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.
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.
Online shopping is booming. About 98 percent of Internet users are online buyers. No wonder, because it’s the most convenient way to shop and it offers more variety than local retail. But how do buyers find a truly legitimate online retailer and how safe are the offered payment methods? Here are the most important tips, so the Grinch won’t steal your Christmas.
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