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Keep up to date with developments in fraud and money laundering compliance, regulation and developments. Only £295 for a full year's access and six printed newsletters.
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Wednesday, 22 November 2017Bank fraud & compliance teams face aftershocks from Equifax breach The recent massive Equifax data breach is in a class of its own. In the new issue of Fraud Watch we ask industry experts about the repercussions for those of you working in fraud, compliance and AML. What new attacks and threats are your organisation likely to face, and what preventive actions must you take? We are here to help you navigate this challenging environment. Subscribe to Fraud Watch today
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Final agreement on Fifth AML Directive proposals
- Consensus on anti-money laundering amendments including prepaid cards and virtual currencies - The major provisions affecting banks - Patchy adoption of Fourth AML Directive across EU - Timeline for adoption of AMLD5
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IN THE LATEST EDITION OF FRAUD WATCH COMPLIANCE: Regulators 'unfairly' targeting compliance officers EU FIFTH AML DIRECTIVE: The 5 key implications for banks CRIMINAL FINANCES ACT: HMRC to make first prosecutions BANK FINES: Five US banks among Top 10 most fined CYBERCRIME: Financial services attacks triple in 5 years MALWARE: Mining rises up list of threats FCPA: Act may be extended to cover more cases. ASSET FREEZING: MEPs approve new rules
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Features - Data securityThursday, 30 November 2017Banks must change data policies post-Equifax The Equifax data breach is in a class of its own. It compromised the personal data of 145 million people, equivalent to half the US population. The seriousness is exacerbated by the breadth of information stolen including names, Social Security numbers, birth dates, addresses, some driver’s licence numbers and 209,000 credit card numbers.
Why does Equifax hold so much data?
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Features - ComplianceWednesday, 15 November 2017Articles in the latest printed edition of Fraud Watch
– Equifax: Fraud and AML professionals face aftershocks from massive hack – Financial regulators under pressure. How can they preserve their independence? – The latest Trojan cyber-threats – Russian courts used to block foreign corruption allegations - analysis – The six criminal types that drive money laundering Read more ...
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Features - RiskFriday, 21 July 2017De-risking threat to financial integrity FATF and G7 call for more balance to resolve contentious issue that threatens both inclusion and security of the financial system Faced with increasing AML penalties and compliance costs in business areas such as remittances and charities, some banks have chosen to stop offering services to clients in these sectors.
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Features - ComplianceThursday, 30 March 2017AML requirements: Are the stakes increasing? Financial controls for AML continue to rise up the agenda for regulators on both sides of the Atlantic. Financial institutions in Europe must soon comply with the EU’s Fourth AML Directive, and new US regulations mean firms are increasingly required to put in place an ongoing review and improvement approach to AML monitoring.
Colin Bristow of SAS examines what the future holds for financial controls.
Read more ...
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Features - ComplianceMonday, 23 January 2017Rolls-Royce: Finally some bragging rights for the SFO? The £671m deferred prosecution agreement with the aero engine maker marks a successful end to the Serious Fraud Office’s biggest ever investigation, argue Kelly Hagedorn and Jessica Veitch of legal firm Jenner & Block.
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Features - ComplianceFriday, 16 December 20162017 Predictions: The year ahead in fraud, compliance & security The experts tells us about the major risks, threats and challenges for the next 12 months: - Ransomware, IoT Risks, AML fines, The rise of the SWIFT-heist middlemen, Vigilante hackers, AML5, Nation state hacks
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Features - ComplianceThursday, 15 December 2016Regulation rollback under Trump The impact of the new presidency on:
- Dodd-Frank Act - Sarbanes-Oxley - Basel IV capital rules - US extra-territoriality - Alternative lenders - Bank stress tests - Compliance staff levels
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Features - CybercrimeFriday, 02 December 2016Global cyberattack report - Where to report attacks: Country-by country details - The Regional Picture: Asia-Pacific, European Union reporting requirements - Mixed messages on business response to cyberattacks - Tech and customer facing functions often at adds
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Features - Cards and PaymentsFriday, 11 November 2016What we need to learn from the Tesco Bank hack Calls for data sharing like the baddies do
One third of Tesco Bank's customers were hacked last weekend. This much we know. What has still to come out, is how the baddies got in and whether or not there was an insider.
Even without this information, it raises questions that should be addressed by every financial services firm.
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Features - ComplianceThursday, 03 November 2016What worries compliance officers? PSD2, Open Banking API, 4AMLD and the Data Protection Act 2017 are all concerns for FPOs and MLROs. There is also the threat of a five year prison sentence for non-reporting, major cybercrime threats, unwieldy legacy systems, the enemy within, and of course Brexit
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Features - Data securityThursday, 30 November 2017Banks must change data policies post-Equifax The Equifax data breach is in a class of its own. It compromised the personal data of 145 million people, equivalent to half the US population. The seriousness is exacerbated by the breadth of information stolen including names, Social Security numbers, birth dates, addresses, some driver’s licence numbers and 209,000 credit card numbers.
Why does Equifax hold so much data?
Read more ...
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Features - ComplianceWednesday, 15 November 2017Articles in the latest printed edition of Fraud Watch
– Equifax: Fraud and AML professionals face aftershocks from massive hack – Financial regulators under pressure. How can they preserve their independence? – The latest Trojan cyber-threats – Russian courts used to block foreign corruption allegations - analysis – The six criminal types that drive money laundering Read more ...
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Features - RiskFriday, 21 July 2017De-risking threat to financial integrity FATF and G7 call for more balance to resolve contentious issue that threatens both inclusion and security of the financial system Faced with increasing AML penalties and compliance costs in business areas such as remittances and charities, some banks have chosen to stop offering services to clients in these sectors.
Read more ...
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Features - ComplianceThursday, 30 March 2017AML requirements: Are the stakes increasing? Financial controls for AML continue to rise up the agenda for regulators on both sides of the Atlantic. Financial institutions in Europe must soon comply with the EU’s Fourth AML Directive, and new US regulations mean firms are increasingly required to put in place an ongoing review and improvement approach to AML monitoring.
Colin Bristow of SAS examines what the future holds for financial controls.
Read more ...
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Features - ComplianceMonday, 23 January 2017Rolls-Royce: Finally some bragging rights for the SFO? The £671m deferred prosecution agreement with the aero engine maker marks a successful end to the Serious Fraud Office’s biggest ever investigation, argue Kelly Hagedorn and Jessica Veitch of legal firm Jenner & Block.
Read more ...
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