Author Archives: Matthias Dennig

Matthias Dennig

About Matthias Dennig

Matthias Dennig works as a presales and consulting expert for the product SMARAGD aces360. His area of responsibility includes advising prospective clients and supporting the introduction of the SAP BIS based product SMARAGD aces360. For more than 15 years he has worked as a project manager in the compliance environment for targens GmbH in various major projects in Germany and other countries.

If supervision turns a blind eye or “Stacks of dirty money”

Matthias Dennig/ June 4, 2019/ Uncategorized

At the end of January, the last 500 bank notes were issued in the euro zone. Exempt were Germany and Austria, where the purple notes were used more frequently than elsewhere.  Now both countries followed suit. At the end of April, the grace period for those 500s expired, but the bills in circulation will continue to be valid indefinitely. This

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International Compliance – Obligation or Opportunity?

Matthias Dennig/ March 21, 2019/ Uncategorized

International Compliance In many countries the number of compliance laws and regulations has multiplied over the last decade. This has led to major discussions and a rapid development of the compliance sector. The pressure is high, but it goes without saying, that all national laws and guidelines must be complied with. For international business, things get even more complicated. While

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Christmas comes but once a year – Gifts versus Compliance

Matthias Dennig/ December 17, 2018/ Uncategorized

Christmas time is the time to give, also for businesses. But is Santa welcomed? While we can look forward to gifts from family and friends carefree, or – if things are not as expected – only with short disappointment till the big annual exchange – presents from business partners may come with legal consequences. Those who give or accept too

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AI and Compliance – A long-term relationship.

Matthias Dennig/ November 19, 2018/ Uncategorized

The financial sector is one of the first domains to drive interest in using artificial intelligence (AI), even before high computing machines were available. With the release of Louis Bachelier’s thesis Théorie de la Spéculation (Theory of Speculation) in 1900, advanced mathematics in the financial field originated and the rise of statistical modelling marked the beginning of primitive AI in

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Compliance – Obligation or Opportunity? Financial Institutes in the EU

Matthias Dennig/ November 19, 2018/ Uncategorized

Compliance – acting in accordance with applicable law – is of increasing importance to financial institutions. Since the banking crisis of 2008, the requirements have grown steadily. Additionally, the regulations and laws of other countries involved must be considered in international business relationships. The EU has adopted a number of laws aimed at combating terrorism, transparency in all business relations,

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Data Analytics in Compliance: Using Cluster Analysis for Customer Segmentation

Matthias Dennig/ July 30, 2018/ Uncategorized

False positives: A harsh truth Alongside a string of compliance developments in recent years, companies still have the same old issues to deal with. False positives are one such serial offender. To avoid missing any critical hits, compliance systems tend to strike early, triggering false alarms. Weeding out these false-positive results can take up a substantial chunk of a compliance

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Compliance International: Transliteration

Matthias Dennig/ July 30, 2018/ Uncategorized

From typo to terrorist financing? Applied linguistics in compliance When the EU imposed sanctions on the Gaddafi regime in early 2011, no one could have foreseen the ensuing problems for compliance. A lack of clear standards for the spelling of Arabic names in Roman script gave rise to dozens of variations of the Libyan leader’s name. From Muammar Qaddafi and

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