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.

What is Mortgage Fraud?

What is Mortgage Fraud? Mortgage fraud is a financial crime involving false information on mortgage applications to secure loans that wouldn't be approved under normal conditions. The primary purpose is to deprive lenders and receive loan approval or better terms for the loan with deceit. Fraud in mortgages can be carried out by [...]

By |July 5th, 2024|Categories: Knowledge Base|Tags: |

What are Financial Intelligence Units (FIUs)?

What are Financial Intelligence Units (FIUs)? FIUs are officially recognized bodies endowed with the tasks of collecting, processing and exchanging information relating to the subject matters of money laundering, terrorism financing and every other form of financial crimes. They act as the focal point for receiving suspicious transaction reports (STRs) from the financial [...]

By |July 1st, 2024|Categories: Knowledge Base|Tags: |

Announcement: Fineksus Named in World’s Most Innovative AI FinTech 100 List for the Second Year in a Row

Announcement: Fineksus Named in World’s Most Innovative AI FinTech 100 List for the Second Year in a Row We are delighted to share that Fineksus has been recognized once again on the AI Fintech100 list, highlighting the World’s Most Innovative AI Technology Companies in Financial Services. This esteemed recognition showcases our dedication to [...]

By |June 27th, 2024|Categories: Media|Tags: |

Latest Announcement: MASAK Launched New Suspicious Transaction Reporting Structure

MASAK Launched New Suspicious Transaction Reporting Structure Implementation of Updated Suspicious Transaction Reporting (STR) Structure We are pleased to inform you that MASAK has announced a comprehensive update to the Suspicious Transaction Reporting (STR) structure, which took effect on May 8, 2024. These changes include significant enhancements in the following areas: - Suspicious [...]

By |June 13th, 2024|Categories: Blog, Media|Tags: |

Why Banks Need Real-Time Transaction Monitoring?

Why Banks Need Real-Time Transaction Monitoring? The banking industry is changing from a physical to a digital one in today's information economy. Conversely, digital transition presents a unique set of difficulties. Banks are dealing with a fresh and intricate set of money laundering issues, and the number of regulatory infractions keeps going [...]

By |June 13th, 2024|Categories: Blog|

What is real estate fraud?

What is real estate fraud? Real estate fraud involves illegal activities carried out during the buying and selling of real estate. These activities include increasing the price of real estate more than its normal value and trading with fake documents and identities. As it is a fairly common type of fraud, it is [...]

By |May 24th, 2024|Categories: Knowledge Base|Tags: |

What are Designated Non-Financial Businesses and Professions (DNFBP) in AML?

What are Designated Non-Financial Businesses and Professions (DNFBP) in AML? DNFBP represents occupational groups that are considered risky in the handling of financial crimes. When these occupational groups do not take the necessary measures, they can unintentionally mediate crimes such as money laundering or terrorist financing.  Although not financial institutions, some sectors can [...]

By |May 24th, 2024|Categories: Knowledge Base|Tags: |

What is Authorized Push Payment (APP) Fraud?

What is Authorized Push Payment (APP) Fraud? APP fraud is often used to convince individuals and businesses to transfer money by using security vulnerabilities in their payment systems. Unlike other types of fraud, since the offender does not have access to funds unjustly, people in APP scams usually initiate the transfer without being [...]

By |May 24th, 2024|Categories: Knowledge Base|Tags: |

What Is Customer Risk Rating in KYC?

What Is Customer Risk Rating in KYC? Customer risk rating is a systematic process used to assess the current level of risk of organizations or individuals. The customer risk rating provides a structured framework for illegal financial activities. Many institutions are at risk of facing financial crimes. Therefore, the risk rating can be [...]

By |May 24th, 2024|Categories: Knowledge Base|Tags: |

What is an AML Compliance Officer?

What is an AML Compliance Officer? AML compliance officers are those responsible for the implementation of AML procedures. For this reason, they are at key points in the determination of financial crimes.  In AML compliance programs, officers often follow the style set by the corporate leader. So this means that officers must have [...]

By |May 24th, 2024|Categories: Knowledge Base|Tags: |
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