What is Enhanced Due Diligence (EDD)?

By |2021-05-21T00:10:07+03:00February 6th, 2021|

What is Enhanced Due Diligence (EDD)? Enhanced Due Diligence (EDD) is a risk-sensitive form of Customer Due Diligence (CDD). Enhanced Due Diligence (EDD) is applied to the higher-risk customers and requires more detailed information about the customer in addition to the basic Customer Due Diligence (CDD) requirements. High-risk customer means that those who are associated [...]

Machine Learning (ML) in Anti-Money Laundering (AML)

By |2021-06-08T11:41:27+03:00February 5th, 2021|

Machine Learning (ML) in Anti-Money Laundering (AML) The crime of money laundering is one of the most important threats to the financial industry, therefore financial institutions equip themselves with technologically powerful and intelligent analytical tools to combat money laundering. Machine learning is one of the most effective ways in financial institutions’ anti-money laundering (AML) efforts. [...]

Global PEP and Sanction Lists

By |2021-06-08T11:51:56+03:00February 2nd, 2021|

Global PEP and Sanction Lists Politically Exposed Persons (PEPs)A politically exposed person (PEP) is an individual with a prominent public function posing high-risk in terms of vulnerability to corruption. PEPs hold important positions and influence in the society therefore, they are prone to be abused for the purposes of criminal activity such as money laundering, [...]

AI in AML Anti Money Laundering Compliance

By |2021-06-16T12:56:50+03:00February 1st, 2021|

AI in AML Anti Money Laundering Compliance AI-powered technology improves AML Anti Money Laundering programs to be more compatible, efficient, and effective solutions for analyzing and detecting suspicious transactions of high-risk accounts.Current transaction monitoring programs process huge amount of data in seconds therefore system is prone to False Positive results which may lead lower operational [...]

False Positive Reduction in AML Transaction Monitoring

By |2021-06-08T11:59:32+03:00February 1st, 2021|

False Positive Reduction in AML Transaction Monitoring Transaction monitoring and screening are one of the essential steps of a successful anti-money laundering (AML) process. It is fully under the responsibility of the financial institutions to detect unusual or suspicious transactions, therefore they need to ensure that they employ a sufficient transaction monitoring and sanction screening [...]

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