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What Are the Fraud Trends in 2023? In our increasingly digital world, where technology continues to shape our daily lives, the realm of fraud has also evolved, adapting to the latest advancements. In 2023, with numerous advancements in the financial services world, new and sophisticated fraud trends are also emerging simultaneously, challenging [...]
Greylist Inclusions and Upcoming Projects Listed in FATF Plenary June 2023 On June 21-23, 2023 FATF had its third plenary meeting in Paris, France. The discussions in the plenary mainly focused on the measures for the anti-money laundering (AML) and the countering of terrorist financing (CFT) in Luxembourg, the additions to the Grey [...]
What is De-risking? What is De-risking? The FATF characterizes “de-risking” as the phenomenon of financial institutions terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, risk in line with the FATF’s risk-based approach. Today, correspondent banks use de-risking as a tool to mitigate their compliance [...]
Real-Time Payments in the United Arab Emirates In the era of rapid technological advancements, the United Arab Emirates (UAE) has positioned itself at the forefront of embracing real-time payments, revolutionizing the way of financial transactions are conducted in the country. The Central Bank of UAE (CBUAE) announced the Instant Payment Platform (IPP) [...]
African SWIFT Communities Forum African SWIFT Communities Forum will be held on 20-21 June 2023 in Casablanca, Morocco. Fineksus’ Sales&Business Development Director Serkan Arslan and Expert AML Analyst Çağatay Aksoy will provide the latest information on industrywide Regtech solutions in ‘’Best practices for transaction screening’’ session. Join us to learn more about how AI and Machine Learning [...]
How Do AI Generative Text Technologies Affect the Payments Industry? The payment industry has been successfully implementing the technological developments into its payment solution systems, benefitting from the advantages of pace, security and efficiency of those enhancements. The AI generative text technologies are one of the fastest growing and spreading technologies that [...]
SWIFT Payment Pre-validation: Streamlining Cross-Border Transactions The field of cross-border transactions has always been complicated and faced with constant alterations as a result of ever-changing regulations, various currencies, and different banking systems in play. SWIFT (Society for Worldwide Interbank Financial Telecommunication) has long been at the forefront of supporting these transactions by [...]
MEBIS - Middle East Banking Innovation Summit in Dubai The 14th edition of the Middle East Banking Innovation Summit (MEBIS) will take place on 17-18 May 2023 at Jumeirah Emirates Towers in Dubai, UAE. Fineksus will be a Bronze Sponsor at the 14th edition of MEBIS event as the previous year and [...]
The 2022 Surge in Anti-Money Laundering Fines: A Closer Look at the Top 5 Penalties The anti-money laundering (AML) penalties at the global scale recorded an increase of 50% in 2022 totaling nearly $5 billion as a result of 3,495 AML events reported. Financial institutions (FIs) that fail in operating successfully know your [...]
Get Ready for ISO 20022 by March 2023 What is ISO 20022? ISO 20022 is a financial messaging standard that offers more structured, richer and accurate data in comparison to its predecessor ISO 15022 and aims to increase the levels of transparency, flexibility and automation in financial transactions and processes. ISO 20022 [...]
