Insights2021-05-05T16:01:51+03:00

Insights

Insights

Here are the latest trends and insights along with emerging technologies that are shaping the Finance Industry through the eyes of Fineksus team.

Here are the latest trends and insights along with emerging technologies that are shaping the Finance Industry through the eyes of Fineksus team.

Financial Crime Unit (FCU)

Financial Crime Unit (FCU) Financial crime units (FCUs) assist banks and financial institutions in detecting and preventing money laundering, terrorism funding, and other financial crimes while satisfying regulatory compliance duties more effectively. Criminals can use a variety of new technology to commit fraud, money laundering, and other crimes in a quickly evolving financial [...]

By |October 5th, 2022|Categories: Knowledge Base|Tags: |

Vendor Due Diligence (VDD)

Vendor Due Diligence (VDD) When a firm wants to purchase, collaborate with, or engage in a commercial partnership with another company, it performs vendor due diligence (VDD). Vendor due diligence, like customer due diligence, is an important component of AML/CFT, since it serves to persuade potential purchasers that their prospects are financially sound [...]

By |October 1st, 2022|Categories: Knowledge Base|Tags: |

Upcoming Recession May Lead to More Financial Crime, and Here is Why…

Upcoming Recession May Lead to More Financial Crime, and Here is Why… Does a Recession Lead to More Fraud and Financial Crime? One of the outcomes of the global pandemic is a global economic recession as the World Bank estimates that the rate of the global growth will drop to 2.9% in [...]

By |September 30th, 2022|Categories: Blog|Tags: |

Black Market Peso Exchange

Black Market Peso Exchange What is BMPE? The Black-Market Peso Exchange is a trade-based money laundering strategy used among Colombian and Mexican drug traffickers. The main feature employs a money trader to ensure that no revenue from US drug sales crosses borders. Instead, those dollars are utilized to buy a variety of genuine [...]

By |September 16th, 2022|Categories: Knowledge Base|Tags: |

We are a Welcome Event sponsor in Discover at Sibos 2022

We are a Welcome Event sponsor in Discover at Sibos 2022. Discover area of Sibos, will host FinTechs with an innovative Welcome Event to meet and network with other banks, FinTechs, and software technology vendors on Monday 10 October 2022 in Amsterdam. Fineksus will be one of three sponsors of the Welcome [...]

By |September 15th, 2022|Categories: Blog|Tags: |

International Sanctions

International Sanctions International sanctions restrict trade and economic relations between individuals, organizations, or countries. Diplomatic, transportation, and communication restrictions are also among the international sanctions restrictions. International sanctions are imposed for a variety of reasons. Diplomatic disputes, security issues, human rights violations, international terrorism, and widespread mass destruction of weapons are all reasons [...]

By |September 14th, 2022|Categories: Knowledge Base|Tags: |

Why Do Crypto Currencies Need AML (Anti-Money Laundering) Regulations?

Why Do Crypto Currencies Need AML (Anti-Money Laundering) Regulations? Worth of crypto and its use for money laundering The number of cryptocurrencies that are actively exchanged is approximately 20,000 and it gets bigger each day as new cryptocurrencies continue to pop up in the market. The highest total value of all the [...]

By |September 1st, 2022|Categories: Blog|Tags: |

Money Mules

Money Mules A money mule is someone who transmits money obtained illegally on behalf of another in person, through a courier service, or electronically in exchange for a fee. Money mules are not directly involved in the crimes, but they are complicit in the sense that they launder the revenues of such crimes. [...]

By |September 1st, 2022|Categories: Knowledge Base|Tags: |

Ponzi Scheme

Ponzi Scheme A Ponzi scheme is a fraudulent investment operation in which the operator, either an individual or an organization, pays returns to its investors from new capital contributed to the operators by new investors rather than profit gained from genuine sources. Typically, enormous returns on the initial investment are promised. The fraudster [...]

By |August 1st, 2022|Categories: Knowledge Base|Tags: |

3 Facts to Know About to Increase B2B Cross-Border Payments

3 Facts to Know About to Increase B2B Cross-Border Payments The market size of cross-border B2B payments was $1,000 billion in 2021 and it is expected to reach $2,515 billion by 2030 which means that in 8 years, a growth rate of 10.8% is anticipated for the B2B payments market according to [...]

By |July 29th, 2022|Categories: Blog|Tags: |
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