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Accuity Insights

The AML and Racketeering Case Against FIFA Continues to Build

In May 2015, fourteen people from the Fédération Internationale de Football Association (FIFA) were indicted following a wire fraud, racketeering and money-laundering investigation led by the US Federal Bureau of Investigation (FBI) and the US Internal Revenue Services, Criminal Investigation Division (IRS-CI). On Monday, September 14, 2015, US Attorney General Loretta Lynch and her Swiss […]
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Accuity Insights

Caesars Palace Fined for Breaching AML Regulations

It has been widely reported that Caesars Entertainment Corp. has been fined a total $9.5 million dollars for its failure to enforce anti-money laundering controls at its Las Vegas casino, Caesars Palace. The casino company admitted to openly permitting wealthy customers to gamble anonymously in private rooms at the casino and also confessed it had repeatedly […]
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Accuity Insights

Identity Matching: the Need for Ongoing Investment in Technology

In the 20 years that electronic identity matching has been in existence, there has been a massive increase in demand and a massive amount of change. And that’s by no means the end of it. Demand will continue to grow and changes will keep happening. Financial institutions need to be ready for any changes and […]
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Accuity Insights

UK Business Secretary Reviews AML Complexity

It was recently reported by the Financial Times that many companies and banks in the UK had lodged complaints to ministers regarding anti-money laundering rules. These complaints claim that the rules that are intended to keep dirty money out of the UK impose excessive extra costs and time burdens on innocent companies and individuals. As […]
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Accuity Insights

FinCEN Proposes New AML Regulations for Private Funds and Investment Advisors

The Financial Crimes Enforcement Network (FinCEN) has proposed a new rule regarding anti-money laundering regulations for private funds and investment advisors. The new rule would require certain investment advisors to establish AML programs and report suspicious activity to FinCEN. The proposed regulations recommend the inclusion of ‘investment advisors’ in the general definition of ‘financial institution’. […]
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Accuity Insights

Identity Matching: Complex Sanctions Mean Complex Solutions

Not only has the sanctions landscape become much more volatile, it has also increased in complexity. This has necessitated financial institutions to implement more sophisticated screening solutions to handle the complexities. When sanctions were first enacted in the nineties, they were applied to whole countries, such as Cuba. However, the situation moved from whole country […]
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Accuity Insights

New Indian Payments Rules for Corporations

Corporate Treasurer has reported that in India, corporations are now allowed to conduct banking activities to enable them to target individuals without bank accounts. Henry Balani, Accuity’s Head of Innovation, observes that the responsibility being placed upon corporate treasurers will increase significantly as a result of the additional compliance issues and operational requirements which will undoubtedly emerge from the […]
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Accuity Insights

Identity Matching: The Impact of Geopolitics

Global politics have had a big impact on name screening. So much has changed politically in the past few years –the geography of Central Europe, the situation in the Middle East and changes in Africa for starters – and this has a big effect on financial institutions and the screening solutions they use. Why? Because […]
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Accuity Insights

Identity Matching: The Role of Robots

We are happy to let machines sort through important identity matching data, discarding the irrelevant data and highlighting the risky entries. They do a great job of it. What about the post-matching process? Can they do that safely, reliably and intuitively too? That’s the general idea. The current trend in innovation is moving the post-matching […]
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Accuity Insights

India Proposes Central KYC Registry

At the beginning of July, India launched its Digital India campaign which aimed to empower lakhs in India’s remotest corners as well as to boost economic growth. Now, the Financial Express reports that India has proposed a central Know Your Customer (KYC) registry. The registry will collect data from PAN, Aadhaar, passport and driver’s licenses […]
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