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KEY ELEMENTS OF EFFECTIVE AML TRANSACTION MONITORING

Transaction monitoring is a key part in the defense against money laundering and financial crime. It is the process of identifying and reviewing anomalous activity and transactions before deciding to report any suspicious activity to law enforcement. To conduct adequate transaction monitoring today, is an uphill battle on multiple fronts. Transaction monitoring success is critical […]
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DIAGNOSE HEALTH OF THE AML TRANSACTION MONITORING- WELLS FARGO UNIT FINED $7M FOR FAILURES

The requirement to undertake transaction monitoring evolved because of anti-money laundering (AML) legislation and its importance has been magnified and reinforced by increased regulatory attention and significant fines. Recently Wells Fargo unit fined $7M for AML transaction monitoring failures. For the second time in five years, a subsidiary of Wells Fargo has been charged by […]
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IDENTITY THEFT AND FRAUD AND HOW TO PREVENT THEM

Society’s growing reliance on technology to transfer private information has created more opportunities for identity thieves to access and misuse personal data. Cybercriminals are diversifying their targets and using stealthier methods to commit identity theft and fraud. There are three types of identity crimes we should know about: Lost or stolen personal information: when your information […]
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GUIDE TO INVOICE DISCOUNTING

What is Invoice Discounting? Invoice Discounting refers to the form of the invoice financing where the businesses borrow the money in the form of a loan from the finance company by keeping the amounts due from customers as the collateral, i.e., accounts receivable from the customer is used as the collateral for the loan and […]
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WHY AND WHEN TO DO CHEQUE DISCOUNTING

WHY AND WHEN TO DO CHEQUE DISCOUNTING? Are your cheques drawn from reputable organizations? Do you need to boost your liquidity for sustained operations in your business? Cheque discounting solution enables you to access cash for your business requirements while you wait for your cheque(s) to clear. In today’s business environment, high liquidity is particularly […]
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