6 Can’t-Miss Sessions at Money20/20

We’re gearing up for Money20/20 in Las Vegas, the unmissable conference for those in payments and financial innovation. With about 12,000 attendees, the four-day show promises insights from hundreds of speakers on a broad range of topics, with valuable discussions and opportunities for start-ups and established companies alike.

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Topics: Anti-Money Laundering, Fraud Prevention, Payments, FinTech, RegTech

KYC Challenges in Digital Environments

It’s been a busy year for Financial Institutions worldwide. And even though the regulatory landscape began to clear due to ongoing dialogues between regulators, examiners, and businesses, financial organizations still have challenges to face when it comes to bridging the gap between their brick-and-mortar operations and the newer digital channels.

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Topics: Know Your Customer, Anti-Money Laundering, Trusted Digital Identities (TDI™), Onboarding

ICO Regulation in Canada - Winter Has Come

Most ICOs are Securities Requiring AML and Compliance

Last week, the Canadian Securities Administrators (CSA) released notice 46-307 to initial coin offerings (ICOs) that impacts:

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Topics: Anti-Money Laundering, Virtual Currency

Insights from a Regulator into the application of Machine Learning and AI to enhance compliance

Scott W. Bauguess is the Acting Director and Chief Economist at the Division of Economic and Risk Analysis (“DERA”) from the US Securities and Exchange Commission (“SEC”). He recently gave a Keynote speech: “The Role of Big Data, Machine Learning, and AI in Assessing Risk: A Regulatory Perspective”, that many people missed. In it he covered how the SEC is taking advantage of these technologies, and more importantly where they are not, at least not yet.

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Topics: Anti-Money Laundering, Compliance, Automation, Machine Learning

How BTC-e's Fall Impacts Every Other Virtual Currency Exchange

Following Anti-Money Laundering Regulation is Required, Everywhere

Last Tuesday, Alexander Vinnik was arrested and charged with 21 counts of Money Laundering for his alleged role in running BTC-e, a virtual currency exchange, and laundering proceeds stolen from the Mt Gox exchange. BTC-e was well known for not having sufficient AML requirements, requiring customers to only provide an email address and likely failing all 5 pillars of AML.

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Topics: Anti-Money Laundering, Virtual Currency

Digital Identities - The Key to Better Risk Management

Ever since we started working on Digital Identities in 2012, our focus has been knowing and mitigating the risk of transactions. There is the risk in:

  • Financial transactions (payment, deposits, transfers) where there is movement of money
  • Onboarding transactions (new customer) where you need to understand whether you should do business with an individual or an organization
  • Activity transactions (logins, password changes) where mundane actions may indicate larger concerns
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Topics: Know Your Customer, Anti-Money Laundering, Fraud Prevention, Payments, Trusted Digital Identities (TDI™), Risk Management

KYC 2.0 - Conozca a su Cliente en la Era Digital

Read the English Version adapted to US Regulatory Framework >>

Recientemente regresamos de K(NO)W Identity Conference 2017 organizada por One World Identity, la primera conferencia enfocada principalmente en identidades digitales y sus aplicaciones.

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Topics: Know Your Customer, Anti-Money Laundering, Compliance, Fraud Prevention, Trusted Digital Identities (TDI™), KYC

5 Can't Miss Sessions At IMTC USA 2017 - San Francisco

IMTC USA is just around the corner, and this year’s show has a strong agenda that focuses on how the money transfer industry can use technology to improve. The sessions will discuss how particular technologies can be integrated into the operations of Money Service Businesses (MSB) to:

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Topics: Anti-Money Laundering, Compliance, Conferences, Fraud Prevention, Payments

Snowden & KYC

We recently returned from the K(NO)W Identity Conference hosted by One World Identity, the first major conference focused on digital identities. For years identities have been taken for granted, while most business leaders didn’t realize that they sit at the center of every business transaction in the digital era. Our friends from One World Identity not only recognize this, they also understand that education and collaboration are  necessary to unlock the value of digital identities for businesses, regardless of the industry.

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Topics: Know Your Customer, Anti-Money Laundering, Compliance, Fraud Prevention, Trusted Digital Identities (TDI™), KYC

What You Should've Learned at ACAMS - Days 2 and 3

Summary: Days 2 and 3 discussed how ISIS is losing, cyber, the risks associated with banking marketplace lending, what a culture of compliance means, how to handle cyber based extortion, fraud & ransomware attacks, and how AML personnel are dinosaurs.

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Topics: Anti-Money Laundering, ACAMS

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