What is Procurement Fraud? A major problem with great financial and reputation repercussions for companies and government bodies is procurement fraud. It happens when someone control the buying process in order to profit unlawfully either personally or through associates. Knowing procurement fraud and its several manifestations can enable companies to better guard themselves [...]
What is Online Gambling Fraud? A major problem in the digital era, online gambling fraud affects providers as well as gamers. The sophistication of illegal activity aimed at the sector increases along with the popularity of internet gaming. Knowing how online gambling fraud operates and its several forms will enable those involved to [...]
What is Customer Screening in AML? A crucial first step in anti-money laundering (AML), customer screening helps companies find and stop financial crimes including terrorism financing and money laundering. It involves cross-referencing client names against several databases, including sanctions lists and politically exposed people (PEP) lists, therefore verifying them. This screening is essential [...]
What is Corporate Screening in AML? Corporate screening for anti-money laundering (AML) is a necessary process helping businesses to prevent financial frauds. Knowing and using corporate screening will assist companies stay free from being victims of fraud, money laundering, and other illegal conduct perhaps seriously jeopardizing their finances and reputation. What Is Corporate [...]
What is Account Takeover Fraud? An increasing issue in the digital sphere, account takeover fraud (ATO) seriously compromises people and companies' security. Usually resulting in financial theft, identity fraud, and other harmful behavior, this kind of fraud happens when a cybercrime actor gets illegal access to someone's internet account. Understanding account takeover fraud [...]
Using AI and Machine Learning in Transaction Monitoring The battle against financial crimes like money laundering has grown increasingly difficult in the digital era of today. The complexity and number of contemporary financial transactions often overwhelm conventional approaches of transaction monitoring. But the scene of transaction monitoring is fast changing as Artificial Intelligence [...]
Money Laundering Through Online Gambling As criminals use online gambling's anonymity and worldwide reach to wash filthy money, money laundering through these platforms raises increasing questions. Effective fight of this threat depends on operators and authorities knowing the hazards and common strategies. Money Laundering Risks in Online Gambling Online gambling sites' worldwide character [...]
How Regtech is Used in Anti Money Laundering (AML)? Companies' anti-money laundering (AML) compliance is being transformed by regulatory technology, sometimes referred to as RegTech. As financial crimes become more complex, conventional approaches of spotting and stopping money laundering are growingly insufficient. RegTech uses artificial intelligence (AI), machine learning, and data analytics among [...]
What is Payment Screening? It is the process of analyzing, verifying and checking incoming and outgoing transactions. This method reveals the risk of inaccuracies or criminal activity in any payment transaction. This allows financial institutions to act quickly in reporting an illegal transaction or processing any payment. Companies often follow this method comply [...]
What is Council for Financial Activities Control (COAF)? Financial activities play an important role in the global economy. It is important to ensure the integrity, transparency and regulatory compliance of these activities. In many countries, regulatory bodies have been established to supervise and monitor financial activities. These institutions often work to prevent illegal [...]
