While an eKYC company doing transaction monitoring, every incoming transaction is first screened by an automated review system. As an AML company, our system automatically makes use of the information gathered on the client profile through client due diligence (CDD) and eKYC, the transaction details...
In today’s global business environment, money laundering continues to be a prevalent problem. AML activities, then, aim to fight this ongoing issue by establishing processes, policies, regulations and laws that require businesses to actively monitor the entities with whom they do business. They tar...
The bank was fined for its role in the theft of billions of dollars from a Malaysian government fund, also known as the 1Malaysia Development Berhad (1MDB) scandal. Rachel Woolley, Global Director of Financial Crime at Fenergo, said: "While we are seeing a 30% reduct...
How are you ensuring that the crypto sector is now brought under the AML/CFT rules? The application of AML rules to the crypto sector must be looked at in light of the Commission’s recent package on digital finance. A first step to update the EU legal framework will be the adoption of...