Case Study: The Commonwealth Bank of Australia – Intelligent Deposit machines and the $700m in fines
Introduction The Commonwealth Bank of Australia (CBA) is one of the largest financial institutions in Australia. In recent years, the bank has faced significant scrutiny from regulatory bodies due to…
What is the Nakamoto Coefficient, and why understanding it can prevent you from falling victim to an investment scam or a rug pull?
Named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin, the coefficient is a metric used to measure the decentralization of a blockchain network. It calculates the minimum number of entities…
Staying Just Under: The Script Kiddie’s Guide to Money Laundering
One of the simplest and most common techniques used by rookie money launderers is “structuring” or “smurfing”—breaking up large transactions into smaller amounts to avoid detection. The goal is to…
Transaction Monitoring Watchlists and How to Keep Them Updated
Introduction: What Are Watchlists? A watchlist is a broader, flexible list of individuals, entities, or countries that pose potential risks. Being on a watchlist doesn’t necessarily mean that an individual…
Preparing curated data sets for an effective Data Analysis
Before finding the next fraud pattern/modus operandi affecting your organization, we need to make sure you have the right complete data for analysis. Having complete organized transaction data to detect…
Starting a business in Europe and the UK
As compliance and risk specialists it is important to find the weakest link. Where are the opportunities to create assets that appear genuine but are not and where can firms…
The 101: Payments – Visa Token Service (VTS)
Transactions by exchanging tokens instead of card details is a fraud prevention dream. VTS solves much more than just this. Visa Token Service (VTS) is a technology designed to enhance…
The 101: Payments – FATF Travel Rule
One of the key regulations developed by the FATF to address these concerns is the “Travel Rule.” This rule mandates that financial institutions share certain information about the originators and…
Event Alert: The International Anti-Financial Crime Summit 2024 (IAFCS2024) will take place on October 9 in London
The International Anti-Financial Crime Summit 2024 (IAFCS2024) will take place on October 9 next in London. This unmissable conference takes place at the 10 Union Street convention centre, located in…
The 101: Everything Synthetic ID
Some of the most horrible crimes we have seen in our career was not Identify theft but synthetic ID. We saw a fraud vector that had the patience to raise…