Blog

The End of Marijuana Prohibition: A Joint Effort

Marijuana taboos are loosening worldwide. The breakdown of state cannabis restrictions in the US yields differing legal gray areas requiring financial institutions to use KYC risk-screening. There are many lessons to be learned as this emerging industry develops its best practices.

By Colleen Dychdala and Katherine Conroy

Our Mission in Double Time

While many current social media memes humorously spotlight just how long a month of quarantine can feel, a very serious observation is how rapidly things are changing in ways never imagined and how differently the world is operating. Even as we have settled into Zoom workdays while managing familial needs…

By Tom Walsh

The Week Of: April 20, 2020

Law enforcement continues the fight against COVID-19 fraud, organized crime groups take advantage of the pandemic, and shell corporations facilitate contracting fraud at the DoD

By RDC

Moody’s Analytics Provides Tool to Help Hospitals Evaluate PPE Suppliers

NEW YORK, April 21, 2020 –Moody’s Analytics announced today the launch of a “Know Your Supplier” portal to help hospitals and other healthcare providers identify and screen suppliers of medical equipment and personal protective equipment (PPE). The coronavirus has prompted hospitals to expand their supply chains, creating an urgent need…

By RDC

The Week Of: April 13, 2020

An “onslaught” of fraud is on the way, how Angolan elites moved their money throughout Europe, and Wyoming now allows insurance companies to invest in cryptocurrencies

By RDC Insights

BSA AML Compliance: What is it and why does it matter?

Congress passed the Bank Secrecy Act (BSA), also known as the Anti-Money Laundering (AML) law, in 1970 to combat money laundering in the United States. Since then, the BSA has required financial institutions to work with government agencies to protect their clients, communities, and country. Financial institutions must keep detailed…

By RDC

Moody’s Analytics Offers Free Online Portal to Help Reduce Potential Backlog of PPP Loan Applications

NEW YORK, April 14, 2020 – Moody’s Analytics announced today that its small business loan application and lending portal will be made available for free to all lenders seeking to expedite the processing of loans under the CARES Act Paycheck Protection Program (PPP). The portal captures the requisite loan application…

By RDC

The Week Of: April 6, 2020

North Korea may use crypto to facilitate trade-based money laundering, the CFTC issues customer advisory on COVID-19 fee scams, and Alberta’s government introduces human trafficking bill

By RDC Insights

The Basics of Natural Language Processing

In the last post, I covered the origins of artificial intelligence (AI) and machine learning (ML). In this post, I’d like to focus on another sub-discipline of AI: natural language processing (NLP). One of the earliest goals of AI was to create computers and programs that could understand human speech:…

By Jeff Sidell

Organised Crime vs. Disorganised Compliance

An estimate by the International Monetary Fund places the aggregate size of money laundering in the world at between two and five percent of global GDP. While the illicit nature of money laundering means no precise statistics are available, it is fair to say that bad actors have traditionally had…

By Hugo Veazey