As we continue life with COVID-19 around the world, our environment looks dramatically different from January 2020.
In May 2020, FinCEN issued an advisory to financial institutions alerting them to medical scams related to the COVID-19 pandemic.
Trade Finance, by its very nature, is linked to the maritime transportation cross-border movement of goods, and therefore faces increased scrutiny.
As more mainstream consumer and institutional investors embrace cryptocurrencies, it becomes increasingly more difficult, if not impossible, for traditional financial institutions to avoid entanglements with the crypto economy.
Due to the COVID-19 crisis and the recently adopted CARES Act, fraud and AML teams need to address the rapidly evolving financial crime landscape.
In today’s rapidly evolving world, it is critical for firms to get ahead of change. With the rise in digital technology causing a rapid increase in data volume and payment types and channels, these challenges are further amplified by the fear of regulatory fines.