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Billions in Illicit Cash Reportedly Entered Peru’s Financial System May 14, 2018 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 […] -
Knowing Your Customer in 2018 May 7, 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 […] -
Vcheck Global Announces Launch of Advanced AI to Scan Social Media Data in Connection with Background Checks and Due Diligence May 3, 2018 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 […] -
French Billionaire Charged in Bribery Investigation April 30, 2018 On Wednesday, numerous mainstream media sources reported French businessman Vincent Bolloré, Chairman and CEO of the investment group Bolloré, was charged by French investigators as part of a probe into the possible use of bribery in two African nations in order to obtain port contracts from public officials. Specifically, the investigation concentrates on suspicion of […] -
SEC Unveils Public Service Announcement To Promote Background Checks April 17, 2018 Washington D.C., April 16, 2018 — The Securities and Exchange Commission today unveiled a public service announcement (PSA) to encourage investors to check the background of their investment professional by using the free search tool on Investor.gov before investing. Investor.gov, the SEC’s website dedicated to individual investors, provides investors with tools and resources to help them invest wisely and avoid fraud. “Investor education is an important […] -
European Union Extends Iran Sanctions April 16, 2018 On Thursday, Reuters reported the European Union extended sanctions for one year on Iran over human rights violations, after debating whether to impose a new set of penalties in an attempt to preserve the Joint Comprehensive Plan of Action agreement signed between the P5+1 countries (China, France, Germany, Russia, the United Kingdom, and the United […]