by Jyotsna Bucktowar | Mar 12, 2024 | News
INTERPOL publishes its Financial Fraud Assessment: A global threat boosted by technology highlighting how the increased use of technology is enabling organized crime groups to better target victims around the world. The use of AI large language models and...
by Jyotsna Bucktowar | Mar 11, 2024 | News
FATF updates its guidance on beneficial ownership and legal arrangement transparency, focusing on enhancing global financial integrity. The rules highlight the importance of accurate information on trusts, extend compliance to all trustees, and detail verification...
by Jyotsna Bucktowar | Mar 11, 2024 | News
EPPO releases Annual Report for 2023, revealing 1927 ongoing investigations with an overall estimated damage to the EU budget of €19.2 billion – 59% of which (€11.5 billion, corresponding to 339 investigations) was linked to serious, cross-border VAT fraud. This type...
by Jyotsna Bucktowar | Mar 11, 2024 | News
Wolfsberg Group publishes its updated Country Risk FAQs, providing a comprehensive understanding of the implications of country risk in the context of AML/CTF measures, including CDD requirements. The updated document specifically highlights: clearer delineation of...
by Jyotsna Bucktowar | Mar 9, 2024 | News
US Treasury uses AI to recover more than $375 million in fraudulent payments. To address the increase in fraud, Treasury’s Office of Payment Integrity (OPI) implemented an enhanced process using AI to mitigate check fraud in near real-time by strengthening and...
by Jyotsna Bucktowar | Mar 8, 2024 | News
GRECO calls on Czechia to improve the effectiveness of its system to promote integrity and prevent corruption in government and the police. The reports stresses that ministers’ advisers should be subject to disclosure requirements regarding assets, interests and...
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