4 August 2022: A common language and model for financial messages is now taking root around the world. Ben Princen spotlights ISO-20022, explaining why it is gaining traction and revealing how NetReveal® is ready for challenges it might generate.
How a hybrid approach could help tackle the rise of money laundering in private banking
26 July 2022: As regulators begin to hone in on the private banking sector, Charmian Simmons, Financial Crime and Compliance Expert investigates how industry players can better manage financial and reputational risk without impacting their value proposition to high-net-worth clients.
8 July 2022: As sanctions risks become ever more complex for the financial community to navigate, Charmian Simmons, our Financial Crime and Compliance Expert, revisits the foundations that make up sanctions in her latest blog
How data leaks and whistleblowers can set the tone for culture shifts and AML controls
23 June 2022: What can the financial services industry learn from dataleaks? The importance of KYC, visibility, tech development and improved corporate culture, responds Charmian Simmons, Financial Crime and Compliance Expert, in her latest blog
Moving to a Perpetual KYC Model – the Benefits and the Challenges
10 June 2022: With increasingly stringent KYC requirements meaning that financial institutions must periodically refresh information held about their customers, Charmian Simmons and Neil Isherwood examine the benefits and challenges of a perpetual KYC model
22 February 2022: Isabel van Dooren, Engineering Manager for our NetReveal® Compliance solutions, tells us about her working day and explains why she is so passionate about delivering productized solutions
Taking on the ‘privacy paradox’ puzzle to evolve data strategies
14 October 2021: Holly Armitage’s latest blog discusses the predicament the banking sector finds itself in balancing consumers’ privacy preferences and hesitation in sharing personal data, versus how they act online, and how this can be combatted with demonstrable data privacy strategies
Financial services versus fraud – The battle continues
6 July 2021: Where there is money, cyber crime isn’t far behind, and this was exacerbated when financial institutions were knocked sideways by the pandemic. Simon Viney’s latest blog discusses the magnitude of the issue and the need for modern solutions to address modern fraud
22 June 2021: Robert Harris’ latest blog covers how insurers need to harness data through intelligent analytics and machine learning in order to understand customers, both good and bad, and measure fraud for an intelligent view on risk, opportunity and ROI
10 June 2021: In a recent webinar with UK Finance, Nordea and Credit Agricole, we touched on a number of issues regarding the FS information sharing landscape. In his latest blog, David Nicholson recaps the webinar discussion and covers the key technical and operational barriers, the benefits and a flavour of the technology required
Applying citizen data science to plug the banking data skills gap
8 June 2021: The burgeoning need for data science has created a banking skills gap. In his latest blog, David Nicholson discusses the use of ‘citizen data science’ as a means to mitigate this gap by empowering a wider pool of employees to engage with data science workflows
The war on insurance fraud demands cross-border and cross-sector collaboration
27 May 2021: Authored by Robert Harris, Insurance Fraud Global Product Manager, this blog explores how the war on insurance fraud demands cross-border and cross-sector collaboration, if it is to stand any chance of tackling the problem
25 May 2021: Co-authored by Nicola Eschenburg and Harriet Shaw, this blog shares insights into our work with West Midlands police on ‘Operation Fort’, a landmark human trafficking case and shares insights into the modus operandi for organised crime groups
What should data ethics mean to Financial Service providers?
13 May 2021: With the rise of new emerging technologies reliant on data, data ethics comes into play. Asking questions and guiding practical actions about the use of data. Read more in this blog co-authored by Holly Armitage, Principal Strategist and Chris Blood, Principal Data Strategist
The COVID Crime Index: A look at pandemic-related security and fraud trends
29 April 2021: In his latest blog, Simon Viney discusses the challenges and opportunities the FS industry has faced since the start of the pandemic and how they can work to overcome these in the coming months and years, as highlighted in our new COVID Crime Index report
15 April 2021: Around £50bn has been lent, double estimates when the Bounce Back Loan scheme launched in March 2020. It’s predicted the UK government now faces a loss of between £15 to £26bn with businesses unable to repay the loans or through fraud. Read our latest blog from Robert Harris on the scale of the problem and how it can be addressed
Is 6AMLD a chance for us to agree what success in anti-money-laundering looks like?
13 April 2021: With 6AMLD putting the focus squarely on 22 predicate offenses – do we have an opportunity to re-evaluate how we measure AML detection success and effectively tackle organised crime? Harriet Shaw questions the measures we use today and examines the possibilities that 6AMLD presents
Are you sure you want to park there?
The future of insurance fraud prevention lies in understanding good customers
1 April 2021: Leveraging customer data offers insurers the ability to better risk assess applicants and personalise offerings. The challenge lies in having the right data at the right time for the right customer says Robert Harris in his latest blog
The ethics of Artificial Intelligence in Financial Services
30 March 2021: In his latest blog, David Nicholson takes a look at the reasons for bias in AI and the role of regulators, governments and big tech firms in strengthening the culture of responsibility and ethical behaviour within financial organisations, beyond data processing
COVID-19 and money laundering one year on: the trifecta of change
16 March 2021: The pandemic has generated ripple effects of changes across the FS sector. Our latest blog from Enda Shirley puts the world of money laundering under the microscope, looking at how a trio of 2021 challenges has impacted compliance teams
2 March 2021: In his latest blog, Tyrone Cole discusses the concept of a counter fraud eco-system from an insurance industry perspective, and more specifically the three key disciplines of the system that help to create an effective counter fraud strategy – technology & data, people/organisations and process
19 February 2021: Almost every major financial institution is navigating a huge transformation programme aimed at improving their AML regime. Whether they are responding to regulatory pressure or to a new threat, they all face the same question… 'How effective are we at catching financial crime?'
Telemedicine fraud: How COVID-19 has opened the door to an increase in remote healthcare scams
17 February 2021: COVID-19 restrictions have led to surging numbers of remote medical appointments, and with them, increased attempts of various types of medical fraud. Dennis Toomey looks at the latest fraud trend and what insurers can do today
Fixing fraud detection in car financing applications for banks
2 February 2021: Car loan or auto financing fraud is a growing problem for financial institutions, driving financial, reputational and regulatory risk. David Nicholson and Harriet Brown explain how they helped a German client facing this challenge
Follow the money: investigating money laundering tactics
8 December 2020: In his latest blog, Simon Viney discusses our recent report which highlights the ingenuity of money laundering tactics to obtain liquid financial assets and avoid any subsequent tracing of the funds
26 November 2020: In his latest blog, Dennis Toomey explains why the industry must turn not only to sophisticated tools and technologies, but also unite around a strategy based on collaboration – in order to tackle insurance fraud
Industry report: the challenges and opportunities facing AML professionals
13 October 2020: We have polled thousands of FI professionals and their customers to better understand global attitudes towards money laundering and to compare current and possible future AML strategies from across the industry
Banking on customer due diligence: how intelligent technologies can streamline compliance
15 September 2020: Enda Shirley explains how banks are currently facing what has been described as their biggest test since the 2008 financial crisis. In this environment, staying focused on activities like AML compliance has never been more important