Category: Real-time Intelligence

AML as a Service

AML as a Service

AML as a Service Past few months have seen a lot of activity from regulators, bankers and industry bodies alike towards curbing money laundering. Rules are becoming stringent and reporting more accurate. Then there were hefty fines levied on certain banks for non compliance with AML guidelines. During our conversation with bankers, it consistently emerged that bankers have AML compliance as one of their top priorities. This...

Cybercrime-Phishing-Scams

Cybercrime increased by 300% compared to last year

Cybercrime in India has increased by 300% since 2013 as the research by thepaypers.com indicates. Cybercrime in India has been on rise for last couple of years. According to Mumbai police hacking, phishing and Nigerian fraud have risen to 36 in 2014 until October since 2014 from 9 registered in October 2013. 136 cases of cyber offences were registered in 2013 October compared to 418 in 2014...

Financial Crime in South Africa

Financial Crime in South Africa!

Financial Crime in South Africa is overwhelmingly omnipresent. According to Christopher Malan, Head of Financial Intelligence Center, South African banks have to work towards being more compliant in combating financial crime i.e. Terrorism Financing and Money Laundering. Four big banks of South Africa were fined for R125 million by the Reserve Bank for failing being compliant to the regulations. Banks are highly criticized for forming cartels, and behaving monopolistically in the African region....