FinCrimes

Know Your Country: Keeping pace with the sanctions tsunami

During the last few months, the current U.S. administration has repeatedly utilized economic sanctions to further its foreign policy objectives. This includes the withdrawing from the Joint Comprehensive Plan of Action (“JCPOA”) with Iran, designating a series of Russian oligarchs and government officials and entities owned by those individuals, imposing new sanctions to apply economic […]

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Advancing innovation in the global financial services industry

Advances in artificial intelligence, blockchain, and cybersecurity are poised to transform the financial services industries. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. Mounting pressures on financial institutions to drive out costs, improve customer experience, complete with emerging players, and comply […]

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Ending vicious AML cycles: Why repeating the same approach is no longer sustainable

In 2010, I was traveling with my son, when his name was flagged for a partial match to a suspicious person by the US Transportation Security Administration (TSA). The TSA agent, dutifully asked if he could have a word with my son to sort out this issue, to which I replied, “Be my guest.” My […]

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Balancing customer expectations (and risks) in real-time payments

Riddle me this? Would you rather travel from New York to Los Angeles, hyperloop style, in half the time of flying, knowing that your safety is not assured, or sit aboard a conventional flight for 7 hours, knowing that you have chosen a statistically safer, though significantly slower, means of travel. Consumers are almost unanimously […]

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Intelligent AML: How banks use advanced analytics to achieve a compliance win-win

A few weeks ago, my colleague Sam Kalyanam discussed the challenge facing financial institutions regarding the way they conduct anti-money laundering (AML) compliance. They face an important decision: maintain the status quo, thereby adding to the swelling ranks of their AML compliance teams, or leap ahead by applying cutting edge techniques to existing labor-intensive processes. […]

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How AI is redefining financial crimes detection technologies

There is a quote in the most recent Star Wars movie, “The Last Jedi” that gets me thinking about innovation; ‘We are the spark, that will light the fire”. The Star Wars movies, books, games and mythos is a masterfully woven tapestry telling the tale of a little guy triumphing over an established, organized and […]

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