Surveillance, monitoring, escalation, and reporting are critical components to regulatory compliance and risk management. So is consequence management. These are especially important given the major penalties and remedial steps required of banks and swap dealers, and in view of recent US Department of Justice (DOJ) expectations over “Off-Channel Communications”.
May 22nd, 2023
The Securities and Exchange Board of India (SEBI) took steps last month to prevent and detect fraud and market abuse by issuing a Consultation Paper (CP) mandating that stockbrokers enforce greater surveillance.
April 19th, 2023
One of the biggest challenges financial compliance and risk teams have to contend with is the high number of false positive alerts.
April 12th, 2023
Financial crime programs must continually adapt to the changing regulatory and threat landscape. This makes the refinement of the tools and processes crucial to meeting new regulatory requirements and thwarting emerging threats.
April 7th, 2023
What measures should firms have in place to counter money laundering in 2023? Regulation Asia and NICE Actimize jointly hosted a roundtable discussion at the InterContinental Sydney, bringing together about 30 practitioners from banks, asset managers and securities firms to discuss that and the capital market’s vulnerabilities to money laundering.
April 5th, 2023
In the aftermath of the recent collapses of Silicon Valley Bank and Signature Bank, we have seen the emergence of new scam opportunities from fraudsters. Reports from industry are noting an increase in the registration and number of fake domains impersonating SVB or SB. In addition, these cybercriminals with fake domains are also using malware to steal account data or gain valuable information to be used in subsequent phishing attacks.
March 23rd, 2023
A country being added to the FATF grey list can have far-reaching ramifications. Any country being considered as a new addition to the grey list will try desperately to ensure they’re not added. Showing up on a FATF grey list can adversely impact investment into the country, overall growth, and it can affect the country’s currency—making goods and services more expensive.
February 20th, 2023
Surveillance accuracy is critical to maintaining a manageable workflow for compliance teams in the fight against market abuse. Define your alerting parameters that are too wide, and your team will be swimming in false positives. Define them too narrowly, and you might miss transactions that need to be reported to the regulator. So where is the tipping point – and where can you even begin to define and improve surveillance accuracy?