Billions in Illicit Cash Reportedly Entered Peru’s Financial System

According to a Peruvian investigative journalism news source, more than USD 2.2 billion linked to suspected criminal activities has entered Peru’s financial system since 1998 through clients with alleged ties to corruption, drug trafficking, illegal gold mining, and tax evasion. Two of the country’s largest banks reportedly did no respond to questions regarding their client acceptance process, referring to financial …

Knowing Your Customer in 2018

Data, technology and automation have transformed the modern compliance program during a time in which financial institutions are confronted with greater complexity than before. Emerging risk categories, including narrative sanctions, beneficial ownership, and crypto currencies, and fintechs present financial institutions with increasingly difficult challenges to confront. Narrative Sanctions Historically, government sanction bodies provided the industry with a set list of  …

Vcheck Global Announces Launch of Advanced AI to Scan Social Media Data in Connection with Background Checks and Due Diligence

VCheck Global, a leading provider of business to business due diligence background checks, has launched its new application to utilize advanced AI to scan social media data. The Company is offering this solution for corporate clients and financial institutions to gather and review an individual’s entire online identity which will generate an easy to read report based upon pre-set criteria …