With the ongoing conflict between Russia and Ukraine, many countries around the world, including the G7 members, have introduced unprecedented financial sanctions. These sanctions aim to isolate Russia’s financial system, create significant economic consequences, and put pressure on Russia for ongoing activities in Ukraine.
April 8th, 2022
As more and more financial institutions (FIs) begin adopting AI and machine learning-based data into their programs, the most common question financial crime fighters ask is – “how can we best understand the findings?”.
March 23rd, 2022
It is nearly impossible for financial services organizations (FSOs) to fully understand all the risks they are exposed to. Finance being the bedrock of the global economy means FSOs have to cover a vast surface area and assess the sea of information the global economy produces. When you zoom in on a specific transaction or entity, finding the relevant data needed to make an informed decision is often difficult.
March 8th, 2022
APAC: New research suggests more meaningful financial crime prevention may be achieved with targeted investments in higher risk areas.
February 21st, 2022
In the summer of 2021, the FFIEC released its long-awaited updated guidance on online security “Authentication and Access to Financial Institution Services and Systems”. The last major guidance was in 2011, with a commentary on mobile security around 2015 in the FFIEC Examination Handbook. With a near 10-year gap in guidance, financial services organizations (FSOs) under the FFIEC, or not, have managed their online security risks beyond just waiting for the FFIEC to opine. New in this guidance is reference to important outside resources such as the National Institute of Standards and Technology (NIST), and for instance, the four volume NIST 800-63 series which are must reads for the online security practitioner.
February 9th, 2022
It’s no secret: 2021 was an ever-evolving year for financial crime fighters. Both threats and world events emerged quickly to forever change the risk landscape, and Financial Services Organizations (FSOs) have needed to stay five steps ahead to combat these new fraud and AML (FRAML) vulnerabilities.
January 24th, 2022
2021 was a wild ride in the world of financial compliance, and 2022 appears to have even more twists and turns in store. In this blog, three compliance experts with decades of experience weigh in on the biggest trends, and what’s around the corner.
January 21st, 2022
In 2019, few firms envisioned their traders would need to work from home, and that these employees would still need to be recorded. And in 2020, the Covid-19 pandemic completely uprooted the way we live and work. This new work-from-home (WFH) environment caused a rapid adoption of non-traditional communication modalities, including unified communications – and recording of regulated employees was still mandatory across these platforms.