Tag Archives: AML

Micro-Money Laundering: What is that?

Tamara Tanaskovic/ June 28, 2020/ Uncategorized

Stronger controls on traditional financial transactions and more effective systems to identify fraud and money laundering forces criminals to look for new ways to launder money. Often, digital channels and online platforms offer loopholes, especially for small payments. Microtransactions happen often below the radar of law enforcement and regulatory agencies. However, thousands of such small electronic payments can accumulate fast to significant amounts.

The 6th EU Money Laundering Directive

Tamara Tanaskovic/ April 5, 2020/ Uncategorized

The 6th EU Money Laundering Directive aims to harmonize the criminal liability and the procedural requirements for the prosecution of money laundering in the EU countries and for international cooperation. What does that mean?

A set of rules to protect the financial system

Tobias Bumm/ March 9, 2020/ Uncategorized

In order to protect the financial system from abuse, measures to comply with national and international embargo regulations are required. Filter software systems and their rule sets are of great importance there. However, these must be analyzed regularly to guarantee optimal hit quality.

AI is revolutionizing the bank’s customer relationship

Frank Erdle/ November 18, 2019/ Uncategorized

Digital assistants with Artificial Intelligence (AI) are on the rise in the financial sector.
One in three customers have no concerns using voice commands in banking. How a cutting-edge AI algorithm can lead to better control of sales management and higher business goals.

Digital Transformation and Compliance

Tobias Bumm/ October 15, 2019/ Uncategorized

While digitization is progressing, financial institutions are facing difficult tasks. Data is the new precious asset. New technologies must be implemented fast while the daily business runs on the existing system. But challenges are one of the best ways to spark innovation. Interdisciplinary teams have already been formed to embrace this transformation.

KYT is the Future of KYC

Uwe Henkelmann/ September 25, 2019/ Uncategorized

KYC is a central element in the customer onboarding process and the risk-based transaction monitoring. But how effective is KYC really for efficient transaction monitoring? The content of transaction data is often poorly suited to fully understand what the transaction is about. A closer look into how to better understand your transactions.

Smartphones turn into mobile banks

Matilda Kloiber/ August 14, 2019/ Uncategorized

Despite elaborated systems, financial crime is still an omnipresent topic for many companies. The increasing popularity of so-called direct banks presents compliance with a new challenge.

Even money launderers like to book on online travel platforms

Tobias Bumm/ July 31, 2019/ Uncategorized

While Germany, Spain and Greece were popular vacation destinations in 2018, bookings for North Africa and Turkey are on the rise this year. No matter where to: more and more trips are not booked through a travel agency, but by tourists themselves. In Germany, 40 percent of bookings already in 2017 – trend rising. The Internet is changing the travel

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