Henrik Koch Nielsen

2024 e-Commerce Fraud Trends by Katherine Emirosan https://lnkd.in/e7eGJrxr #ecommecre #fraud #fraudtactics #FPM #refundabuse #phishing #cardtesting #identitytheft #fraudorchestration #fintechboostup #expertinsight

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The EBA Opinion from April this year says "Security requirements for a single EU-wide platform for information sharing .... as regards fraud transaction monitoring and the fraud data sharing amongst PSPs envisaged in Art. 83 of the PSR proposal, the EBA advises the EU co-legislators and the EU Commission to consider further strengthening Art. 83 of the PSR proposal with a requirement to have a single EU-wide platform, to be maintained and run by PSPs, for the sharing of fraud data amongst PSPs, in order to fully capture the benefits of the measure". The UK has several POCs and trials but we need a single platform to combat APP fraud - who should operate it?

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Enhancing Anti-Money Laundering with PKI-Based Digital Identity https://lnkd.in/dpZqK4Ub #Digital Identity, #PKI-Based Digital Identity, #Improved Data Integrity and Security,

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🚨 WEBINAR🚨 📣 AML Check-Up: Is Your Firm in Good Health? In the constantly shifting landscape of Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) regulations, businesses must continually update their operations, systems, and procedures. This is to ensure that organisations are fully compliant with all relevant laws and regulations and avoid severe penalties, including fines, legal action, and reputational damage. An AML healthcheck is a comprehensive review of a business’s adherence to AML regulations and standards. It involves an evaluation of the company’s policies, procedures, systems, and controls to ensure they are effectively identifying, assessing, monitoring, and mitigating money laundering risks. The new Anti-Money Laundering (AML) package, published on 19 June 2024 in the Official Journal of the European Union, marks a significant advancement in unifying and strengthening AML regulations throughout the EU. This initiative follows the adoption of the AML ‘single rulebook’ regulation, the 6th AML Directive, and the AML Authority Regulation by the Council on 30 May 2024, along with proposed amendments. The primary goals of this AML package are to harmonise AML rules across the EU, enforce stricter measures against money laundering and terrorist financing, and enhance the protection of the financial system. In this session we will dive into the topic by: - Unpacking the latest updates in AML regulations - Discussing the benefits of an AML Healthcheck - Outlining the key components of an AML Healtcheck - Date & Time: August 27, 2024, at 10:00 AM GMT - Location: Live Stream - Zoom Register now to secure your spot 👉https://lnkd.in/eHkakVE6 #Complyport #FCA #CFT #AML #Compliance #Webinar #RegulatoryUpdates #Healthchecks #FinancialServices #Antimoneylaundering

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💡 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐡𝐨𝐰 𝐚𝐮𝐭𝐡𝐨𝐫𝐢𝐭𝐢𝐞𝐬 𝐭𝐫𝐚𝐜𝐤 𝐢𝐥𝐥𝐞𝐠𝐚𝐥 𝐦𝐨𝐧𝐞𝐲? This article explains 12 money laundering schemes, from fake companies to cryptocurrency scams. Understanding these methods helps prevent financial crimes. #aml #moneylaundering #antimoneylaundering #transactionmonitoring #amlcompliance #screening #investigations #financialcrimeprevention #riskmitigation #suspiciousactitivyreport #sar #merchantrisk

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AML compliance needs differ based on your business type and clients. Here's what you should know: 👤 KYC (Know Your Customer): - Verifies individual clients - Checks personal identity - Used by banks, insurers, crypto exchanges 🏢 KYB (Know Your Business): - Checks corporate clients - Confirms company status and structure - Finds ultimate beneficial owners (UBOs) - Used by law firms, corporate banks, B2B services ✅ KYB advantages: - Faster complex client onboarding - Better risk assessment - Meets current AML rules Many businesses use both KYC and KYB for full AML compliance. Read our new blog post to learn how KYB can improve your AML work. Link in comments. #AML #KYC #KYB #regtech #fintech

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Navigating Global AML Challenges with SONIO 🌍 In the complex landscape of Anti-Money Laundering (AML), businesses worldwide face evolving challenges. SONIO is at the forefront of providing innovative solutions to navigate and tackle these challenges head-on. Our comprehensive AML platform empowers companies to meet global compliance standards, detect and prevent financial crimes, and safeguard their operations with the technology. Discover how SONIO's expertise and advanced tools are helping businesses around the globe stay one step ahead in the fight against money laundering. #AML #SONIO #GlobalCompliance #FinancialSecurity

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Stand Out in the Fight Against Financial Crime: Understanding AML 30000 Financial institutions and businesses handling sensitive financial data have a crucial role in combating money laundering. AML 30000 is the international standard that he's organizations achieve this goal. What is AML 30000? AML 30000 (Anti-Money Laundering) is a certification standard that verifies the effectiveness of an organization's Anti-Money Laundering (AML) controls. Earning this certification demonstrates your commitment to: Preventing financial crime: By implementing robust systems to detect and deter money laundering activities. Protecting your reputation: Safeguarding your organization from being associated with illegal financial transactions. Meeting international standards: Ensuring compliance with global AML regulations. Who Needs AML 30000 Certification? This certification is precious for organizations like: Banks and financial institutions Money service businesses Fintech companies Any business handling large volumes of financial transactions Benefits of AML 30000 Certification: Enhanced Credibility: Stand out as a trustworthy and responsible organization. Reduced Risk: Mitigate the financial and reputational risks associated with money laundering. Competitive Advantage: Attract clients and investors who value strong AML practices. Improved Customer Relationships: Build trust and confidence with your customers. Is your organization ready to take the next step in AML compliance? Expert Mark Consulting can help! We hold a national-level technical commercial accreditation from the IGSF, empowering us to guide you through the entire AML 30000 certification process. #AML #FinancialCrime #Compliance #Certification #ExpertMarkConsulting Let's discuss how we can help your organization achieve AML 30000 certification and become a leader in financial crime prevention!

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🌐 FATF Update: Virtual Assets & VASPs Compliance 🚀 The Financial Action Task Force (FATF) has released its fifth update on global compliance with Recommendation 15, focusing on AML/CFT measures for virtual assets (VA) and virtual asset service providers (VASPs). 🔍 The report reveals that 75% of jurisdictions are still only partially or non-compliant with FATF's standards. While some progress has been made, particularly in countries with significant VA sectors, many gaps remain. One major concern is the #TravelRule. Nearly a third of jurisdictions have not yet implemented it, and even in those that have, enforcement is often lacking. This is a critical AML/CFT measure, and its slow adoption is troubling. ⚠️ The report also highlights the continued misuse of VAs for illicit activities, including proliferation financing, scams, and terrorism. This highlights the urgency for comprehensive regulation. 🚫 🌟 Positive Developments: Despite these challenges, there are some encouraging signs. The private sector reports an increase in VA transactions using Travel Rule compliance tools and more VASPs are considering these obligations in their operations. Additionally, there is progress in the registration or licensing of VASPs. 💹 👀 Emerging Risks: The FATF emphasizes the need to monitor DeFi arrangements and the growing use of stablecoins, which are increasingly being used for illicit activities. 📊 🚀 FATF's Call to Action: •           Rapidly implement FATF’s standards, including the Travel Rule. 🏃‍♂️ •           Support lower-capacity jurisdictions. 🤝 •           Share best practices and address challenges together. 🌟 👉 Read the full FATF report here: https://lnkd.in/gr4N9sxZ 🌐📄 #AML #CFT #VirtualAssets #VASPs #FATF #Compliance #ProvenanceCompliance

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Increasingly sophisticated money laundering techniques call for more advanced technological solutions to combat the actions of those intending illegal activities so that your business does not inadvertently enable or become a part of illegal activities. Blue Arrow's intelligent and automated solutions for compliance can aid many AML/CFT processes: ➡ Customer due diligence ➡ Enhanced due diligence ➡ KYC setups ➡ Transaction monitoring ➡ Risk scoring/risk assessment ➡ Anomaly detection ➡ Regulatory report filing Don't risk doing business with suspicious parties. Deploy tailored software solutions today and become perfectly compliant: 📧 [email protected] 🌐 www.bluearrow.ae 📞 +971 52 646 1499 / +971 52 413 1497 . . . #uaebusiness #dubaibusiness #dubai #aml #moneylaundering #antimoneylaundering #uaecentralbank #AI #artificialintelligence

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⁉ What are false negatives in AML?   📃 In our recent post, we explained what 👉 false positives are. Today we would like to expand this topic by exploring 👉 the false negatives issue.   📌 False negatives are results that may occur in situations where the search, analysis, and verification processes do not notify about truly suspicious transactions or incorrectly identified entities and persons, considering them as not generating AML risk.   💡 False negatives may result from, among others, a lack or insufficient amount of data, poor quality of the source database, or incorrect identification, analysis, and verification procedures.   💥 False negative results can lead to bad business decisions, worsen the company’s financial security, expose the company to sanctions, as well as may cause the company's unwitting participation in criminal activities and enable illegal financial operations.   🔔 Here are a couple of examples of situations related to obtaining false negative results:   ▶ Failure to detect the actual beneficiary as a result of a too superficial KYC process in relation to, for example, an entity with a complicated ownership structure.   ▶ Failure to identify a natural person as requiring increased financial security measures, for example, due to failure to verify his or her PEP or RCA status.   ▶ Entering into cooperation or executing a transaction with an entity subject to sanctions, for example, due to the use of outdated sanctions lists or failure to check all applicable sanctions.    🔝 Do you want to reliably verify your clients and contractors, increase your company's financial security, and reduce the number of false negative results in your AML processes?   ✅ Use iAML Restriction Lists – a comprehensive, reliable, structured, up-to-date, and easy-to-use tool for verifying persons and entities on PEP, RCA, and sanctions lists: https://lnkd.in/dQpfZEGt      #selfadvertisement #iaml #incasogroup #falsenegative #falsenegatives #aml #cft #kyc #moneylaundering #antimoneylaundering #financialcompliance #sanctions #PEP #RCA #suspicioustransactions

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BaFin’s Recent Regulatory Updates: A Comprehensive Overview In recent times, the financial sector has witnessed significant regulatory changes initiated by the Federal Financial Supervisory Authority of Germany (BaFin). These adjustments are pivotal for maintaining the robustness and integrity of the financial markets, especially with rapid technological advancements and evolving market dynamics. Here we explore BaFin’s key updates spanning cryptocurrency regulation, sustainable finance, MiFID II adjustments, and enhanced IT and cybersecurity measures. https://lnkd.in/ev7x4Qtm

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Create your own sanction screening system tests with Sandbox from AML Analytics. Sandbox allows you to create bespoke tests aligned with your risk appetite. These tests will help you understand the strengths and weaknesses of your sanction screening system so that changes can be made to ensure it is fit for purpose, enabling confident reporting to regulatory authorities. Tailor your tests to match evolving regulatory standards and mitigate AML/CFT risks proactively. Sandbox simplifies the testing process, providing robust validation without compromising data privacy. https://buff.ly/3Y3JyDn #AMLA #RegTech #ComplianceTesting #AML #CFT #RiskManagement #DataProtection #Compliance #SanctionsCompliance #Sanctions

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