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.
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.
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:
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.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), recently updated the Anti-Money Laundering regulation applicable to Financial Entities (FE's) that need to validate customers in Canada. Below is a breakdown of the changes to existing regulation for Identity Verification and for politically exposed person (PEP) screening.
Case Management and SAR (Suspicious Activity Report) filing go hand-in-hand, with an effective case management program significantly bolstering the quality of SAR filing and recordkeeping capabilities. So, what should you look for in a case management and SAR filing programs?
Last week, the New York Department of Financial Services (NYDFS) unveiled new risk-based regulations for all Financial Institutions (FI’s) with customers in New York. The first two rules are effective January 1, 2017, providing less than six months to build an effective risk based system, while the third requires its first submittal on April 15, 2018.
Person to Person payments (P2P) have been growing exponentially in the United States over the last three years. Also called Social Payments, P2P is a fast and easy way for individuals to send payments via the internet, instead of using traditional methods including cash, checks, and credit and debit cards. Examples of P2P services in the United States include Circle, Facebook Messenger, Snapcash, and Venmo. Often with P2P there are no fees for individuals to send or receive money.
We have a reasonably large set of FinTech clients operating in emerging markets, ranging from Latin America, Asia, and the Middle East. They include Virtual Currency Exchanges, Remittance providers, B2B Cross Border Payment facilitators, and Alternative Lending.