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How to Detect and Prevent Transaction Laundering

How to Detect and Prevent Transaction Laundering

A Merchant’s Nightmare! Do you want to know how to detect and prevent transaction laundering? Transaction laundering is a deceptive and illicit financial activity in which a legitimate merchant’s payment processing system is exploited to disguise illegal...
Financial crime and fraud detection trends around the world

Financial crime and fraud detection trends around the world

This study explores financial crime and fraud detection trends around the world. E-commerce is growing rapidly worldwide, with fraudsters lurking in the shadows. Unfortunately, a lot of financial crime remains undetected. As digital payment gradually replaces cash,...
Sentinels eBook: 7 Major Banking Scandals

Sentinels eBook: 7 Major Banking Scandals

In 2021 alone, the financial sector received $5.4 billion in penalties for non-compliance with AML, KYC and data privacy regulations. The United Nations Office on Drugs and Crime (UNODC) estimates that the global cost of money laundering consists of 2-5% of global...
Two Identity Fraud schemes that call for a new approach to KYC

Two Identity Fraud schemes that call for a new approach to KYC

In recent years, technology has gotten so good at detecting counterfeit ID documents, that fraudsters are changing their modus operandi. Social engineering and the use of money mules have widespread and call for a radically different approach to KYC. Social...
Compliance in the complex French regulatory landscape

Compliance in the complex French regulatory landscape

Financial institutions that operate in France have to comply with French law and with EU Directives. Rules and recommendations often overlap, but there are subtle differences on a national level when it comes to the interpretation and implementation of these directives.