5 Results from 2023
Stan Cowan
Automating Know Your Customer (KYC) and Know Your Business (KYB) checks are vital for payroll service companies. In the fast-paced, ever-evolving world of finance, the role of payroll service companies is more vital than ever. However, with this pivotal role comes the increased responsibility and risk of managing sensitive data. Automating Know You...
07 June 2023 /wholesale /crime Operational Risk Management
Check fraud is a persistent issue, even in our rapidly evolving digital world. The crime may seem almost antiquated, but it poses a real threat to both individuals and businesses. With this in mind, we'll delve into understanding check fraud, its various forms, the impact it has, and most importantly, the preventive measures that can be taken. Che...
07 June 2023 /regulation /crime Financial Risk Management
Having a strong KYC and KYB program is vital for FIs to fight fraud and risk. And now, this is becoming less of an option. In an effort to combat financial crimes such as money laundering and terrorist financing, new beneficial ownership rules have been implemented for deposit accounts at financial institutions (FIs). These rules require FIs to id...
03 April 2023 /regulation /identity RegTech
According to a recent survey from PYMNTS, over 71% of executives are significantly interested in real-time payment systems. It’s easy to see the value in near-instant transactions – faster account openings, purchase confirmations, fund transfers between banks, amongst others. These benefit businesses, consumer and financial institutions (FIs) Even...
07 March 2023 /payments /crime Payments strategies 2015-2020-2030
It is becoming increasingly harder to delineate between fraud risk and compliance risk. The speed with which identity fraudsters and money launderers move to exploit gaps within financial crime risk management systems has increased due to the race toward greater digitalization and increasing service expectations from consumers. And community bank...
12 January 2023 /regulation /crime Financial Risk Management
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