Author Archives for Lara Mcnamee

5 January 2018 - Accuity Insights

What faster payments means for anti-money laundering compliance

- The global phenomenon of faster payments is having an impact on operational issues related to anti-money laundering (AML) compliance. Faster payments are a response to the need to modernise current payment settlement networks as a result of market, technology and demographic trends. Faster payment networks provide benefits to the three major participant groups: corporations, consumers […]
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22 November 2017 - Accuity Insights

Paradise Papers or Panama Papers? Any change to the global financial system?

- The so-called Paradise Papers is another in a long list of leaks that forces money laundering into the open: The Panama Papers, Wikileaks in 2010, Luxembourg tax files in 2014 and HSBC in 2015. The Paradise Papers are essentially version 2.0 of the Panama Papers, albeit smaller with 1.4 terabytes of data leaked compared with […]
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30 March 2017 - Accuity Insights

The Panama Papers first anniversary: Have we increased transparency and reduced corruption?

As we approach the first anniversary of the Panama Papers scandal that broke around the world on 3rd April 2016[1], it is useful to reflect on the impact this scandal has had in improving transparency and reducing corruption.  The scale of the leaked data was massive, including 11.5 million records with details on more than […]
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4 January 2017 - Accuity Insights

End of year wrap up – Why “Annus Horribilis” & the Chicago Cubs matter for the financial services sector

Amidst the angst and upheavals in 2016, one event for certain brought huge joy to certain residents of Chicago and its sports fans – the Cubs win the World Series! [1] For those outside Cubs Nation, the win ended a 108 year losing streak in baseball which is perhaps one of the longest on record […]
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29 July 2016 - Accuity Insights

KYC Industry: The Benefits of Industry Reports

With increasing regulatory pressure to perform greater amounts of due diligence on counterparties, it becomes even more important for KYC, or Know-Your-Customer, professionals to understand and address the day-to-day challenges within the industry. Industry reports are a great way for consumers to educate themselves on such matters. Industry reports offer an array of benefits for […]
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27 July 2016 - Accuity Insights

Will Hong Kong’s crackdown on money laundering harm the economy?

The announcement in June by Hong Kong’s securities regulators related to the spike in breaches of the Anti-Money Laundering (AML) rule is provoking discussions in the regional financial community as to how these crackdowns impact Hong Kong’s future economic growth. As it stands, the IMF recently cut Hong Kong’s economic growth forecast from 2.7% to […]
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20 May 2016 - Accuity Insights

Henry Balani: The RCBC heist – the need for reform

By Henry Balani, Global Head of Strategic Affairs, Accuity & FircoSoft The Rizal Commercial Banking Corporation (RCBC) case continues to generate worldwide interest, as the issue has highlighted significant gaps in the regulatory coverage and enforcement of potential money laundering instances. Many central banks have accounts at the Federal Reserve to facilitate cross border settlements […]
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5 April 2016 - Accuity Insights

Henry Balani: The Panama Papers – Not everyone is a crook

The current ‘Panama Papers’ #panamapapers revelations promises to provide extensive details around the use and misuse of tax havens by prominent politicians and wealthy individuals around the world (The Power Players) .  We expect they will reveal other criminal activity including dodging AML sanctions and tax evasion.  No doubt legislators around the globe will be demanding […]
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29 March 2016 - Accuity Insights

Accuity’s Nina Kerkez and Patrick Hinchin discuss Intelligent KYC with FX-MM

Nina Kerkez, Senior Product Manager, KYC Solutions, and Patrick Hinchin, Senior Director, Product Management at Accuity tell FX-MM why the market is likely to move away from know-your-customer (KYC) utilities and embrace data and technology solutions to meet regulatory requirements and generate revenue. Download the full article here
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24 March 2016 - Accuity Insights

Henry Balani: Trade compliance – digitising the flow

As trade finance progresses towards a digital delivery model, new opportunities to reduce fraud and fight financial crime are opening up. Henry Balani, Global Head of Strategic Affairs, Accuity, talks to FX-MM about reducing manual workflows and creating a safer trade finance environment. Download the full FX-MM article here:
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