FINANCIAL CRIME VENDORS RESPOND TO UKRAINE DEMAND

WatersTechnology Exclusive Feature

Know-your-customer and anti-money laundering (KYC/AML) processes at banks are a source of reputational risk. Corrupt elites don’t make themselves easy to catch, obfuscating their identities and hiding their tracks in networks of shell companies. Banks are still largely using manual, paper-based processes for onboarding and customer due diligence, but if scrutiny reveals dodgy individuals on their books, it could lead to negative press and government fines. 

Anti-money laundering laws and sanctions have brought complexity to banks' KYC/AML processes. Some vendors are responding by investing in their systems.

So when Russia invaded Ukraine this...

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READ THE FULL STORY HERE: https://www.waterstechnology.com/regulation/7948626/financial-crime-vendors-respond-to-ukraine-demand

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