Fraud poses significant risks to both businesses and customers, resulting in financial loss, diminished customer trust, reputational damage, and potential legal penalties. The solution lies in the implementation of robust fraud prevention strategies and staying informed about the latest fraud trends. This way, you can protect your business and maintain your customers’ trust. Also, if […]

Explore effective strategies and cutting-edge technologies for detecting money laundering. Learn about red flag indicators, KYC processes, and how AI-powered AML solutions enhance compliance and accuracy in financial institutions.

Conformity with anti-money laundering (AML) requirements is no longer a regulatory formality. With increasing financial crimes, it is now a non-negotiable compliance requirement to follow. According to reports, approximately $300 billion is laundered annually only through the US. Therefore, strong anti-money laundering (AML) measures are essential. In this regard, AML audits are vital for ensuring […]

The money laundering problem is a global concern. According to the United Nations, between $800 billion to $2 trillion is laundered annually. This accounts for 2-5% of the world’s GDP.  Over the years, criminals have come up with a variety of methods of laundering. All of them help them make illicit money appear legitimate. Businesses […]

Financial institutions and businesses involved in large financial transactions face the constant threat of embezzlement and money laundering. According to Hiscox’s Embezzlement Survey, companies that fell victim to embezzlement lost far more than money: they lost customers, had more difficulty attracting new customers, and lost business partners. Organizations must understand these differences to avoid these […]

Want to know everything about the card not present fraud and how to prevent it from happening to your business? Here’s everything you need to know to avoid it.

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If you want to ensure compliance with international sanctions, check out our list of best sanctions screening software and find the right software.