Shutting fraudsters out of trade Digital systems and the smart use of technology solutions present an enormous opportunity to shut fraudsters out of trade and deliver billions of dollars of real-world economic benefit at a national level and trillions of… Read More ›
Banks in the UK are spending £30 billion (US$34 billion) annually complying with anti-money laundering (AML) regulation, with three-quarters of budgets spent on people and only a quarter spent on technology according to a survey commissioned and published by LexisNexis Risk… Read More ›
TradeSun, a trade finance platform that features artificial intelligence technology that augments human behaviour by learning how employees interact with trade finance documents, and Coriolis Technologies, a trade data and analytics provider, have partnered to launch an integrated solution for… Read More ›
Pole Star, which is best known for its maritime sector vessel-tracking, sanctions screening and regulatory technology, has acquired a controlling stake in London-based start-up Vasanda to strengthen its screening offering in the global commodities trade. The acquisition aims to provide… Read More ›
The Financial Action Task Force (FATF) has published a report on how new technologies can improve the speed, quality and efficiency of anti-money laundering and counter financing of terrorism (AML/CFT) efforts. The task force says technologies can help financial institutions… Read More ›
HSBC Singapore’s chief compliance officer is calling for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering (TBML) risks. In an article for Regulation Asia, Jamil Ahmed discusses these mitigating factors and concludes… Read More ›
The US has filed a complaint against two Chinese shell companies it accuses of helping China’s ZTE Corporation sell US technology to North Korea in violation of US sanctions US prosecutors are now seeking to forfeit nearly US$1 million from Ryer… Read More ›
Under-invoicing of imported goods is a huge challenge to Pakistan’s economy that requires serious attention and a comprehensive strategy, according to senator Mirza Muhammad Afridi. Chairing a meeting of the senate standing committee on commerce and textiles, Afridi said that… Read More ›