Join RDC in Supporting National Human Trafficking Awareness Day – January 11, 2019
By Michael Kerman | January 10, 2019
Join RDC and the Department of Homeland Security in wearing Blue on January 11, 2019 to recognize National Human Trafficking Awareness Day. Learn more about what RDC is doing to put an end to this heinous, global crime.
My Compliance Wishes for 2019
By Michael Kerman | December 27, 2018
It’s hard to believe that 2018 is coming to an end. At first, I was tempted to blog in a “2018 Retrospective” manner, but it just didn’t seem inspiring. Instead, I thought I’d share with you some of my wishes for 2019, from a financial compliance perspective.
Making Negative News a Positive for FinTech Companies
By Joel Cope | December 18, 2018
Adverse media, or negative news, is an important component in the anti-money laundering (AML) programmes of many banks and large financial institutions, despite not being a regulatory requirement in the US, UK or EU. But can the same be said of fintech companies? And how successful have compliance teams found the tool in the fight against financial crime?
Customer Screening is the DIY Project From Hell
By Michael Kerman | December 11, 2018
Every year, without fail, many banks and financial institutions embark on internal projects to improve their compliance operations. And every year, also without fail, they stumble and get stuck. What is it about customer screening that makes it so hard for firms to do it themselves?
RegTech – Not Just for Startups
By Michael Kerman | October 29, 2018
After the 2008 crisis, financial institutions faced a mountain of new regulations and related challenges around data collection, monitoring and reporting. Hundreds of Regulatory Technology (RegTech) startups sprang up to help. But there’s one thing that’s often overlooked in the dynamic RegTech space: it’s not just about startups.
Eight Reasons Why Search Engines Are Not Due Diligence
By Michael Kerman | October 11, 2018
Search engines are free, easy to use and powerful. Could you use them to run a KYC/AML screening program? You could - but in the end, it will expose you to significantly more cost and risk than opting for a purpose-build solution. Here are eight reasons why.
It Takes Two To Tango: The Interdependence of Data and Technology
By Michael Kerman | September 18, 2018
Everyone’s talking about artificial intelligence and machine learning (AI and ML). But what’s often overlooked is the degree to which they depend on good data in order to be effective. It’s a symbiosis that is particularly relevant to compliance, where AI and ML have huge potential to reduce costs and risk.
Insurers turn to artificial intelligence in war on fraud
By Steven Melendez | June 26, 2018
(A version of this article was originally published on FastCompany.com)
Using artificial intelligence to pick out inconsistencies and unusual patterns has quickly become standard for insurance companies, whether they’re looking for sophisticated rings of fraudsters rigging auto accidents or just individuals embellishing how much their damaged property was worth.
Modern Slavery Typologies for Financial Services Providers
by The Mekong Club | June 26, 2018
This project aims to equip financial service professionals with an understanding of the trends and typologies that are present in modern slavery. This will enhance their ability to assess and mitigate risk within their client portfolios, and identify red flags for better monitoring and reporting of suspicious activity.
Surfing Uncertainty To Confront Terrorism Financing
by Thomas M. Obermaier, RDC | June 19, 2018
Keynote presentation to the FinTech FinCrime Exchange (FFE) in London, UK on June 19, 2018 on the application of analytics and advanced technology to focus on better identifying and eliminating the use of terrorist financing.