Department of Trust’s Post

🎉 Kinectify's AML platform has BET99 setting an industry record on alert disposition time from 12.59 minutes to....   🚨 3.19 minutes per alert! 🚨   AML compliance is crucial for iGaming and Ontario's operators must follow strict standards under iGO operating agreements with AGCO. Our AML module enables BET99 to quickly detect suspicious activities, enhancing efficiency and accuracy.   Read more: https://lnkd.in/e2hXJReZ   #aml #amlcompliance #regulatorycompliance #igaming #ontariogaming

As Global Data (Melbourne) continues to make its mark in the identity verification and compliance landscape, we are excited to introduce WatchEye, our latest product designed to address the complex needs of financial crime prevention and data monitoring. Why WatchEye? 1. Real-Time Monitoring: WatchEye offers real-time alerts, enabling your team to respond swiftly to potential issues. This capability is crucial in mitigating risks and actioning events as they occur. 2. Comprehensive Coverage: From PEPS & Sanctions to deceased monitoring, WatchEye encompasses a wide range of data monitoring programs. This all-in-one platform ensures that you have a holistic view of your compliance & customer landscape. 3. Enhanced Investigative Tools: With intuitive interfaces and detailed alert breakdowns, WatchEye allows your team to delve deep into each alert, understand the context, and make better decisions. 4. Customisable Alerts: Adjust the frequency and parameters of alerts to suit your organisation’s specific needs. This flexibility ensures that your team is only notified of relevant issues. Email alerts can be created or simply access the relevant notifications through WatchEye. 5. Versatile Application: While WatchEye is a powerful tool for AML/CTF compliance, its capabilities extend beyond to various industries and use cases. Whether in finance, debt recovery, or another sector, the platform's "park and alert" feature can provide value to all. If you're interested in learning more, send me through an email zac@globaldata.net.au. I'd be happy to walk you through the platform to explore how it might be able to assist your organisation. #FinancialCrime #Compliance #AML #CTF #DataMonitoring #WatchEye

A little test for you on a Friday. If you currently use an #IDV provider, you need to ask yourself these key questions: 💥 Are you losing customers due to low document coverage? 💥 Is the verification response time quick enough? 💥 Does your provider support the languages that you require? 💥 Are you seeing a high % of customers going through the verification process on their first attempt? 💥 Does your supplier NOT charge you for resubmissions? 💥 Are you compliant with different industries and geographies? 💥 Can you ensure fraud prevention? 💥 With the above answers, do you believe you are receiving a good ROI from your provider? If you answer NO to any of those questions, Veriff is here for you..... 💥 #indentityverification #digitalidentity #risk #fraud #finance #financial #banking #dating #gaming #safety #online #software #technology #SaaS

📊 Insightful Analysis: Navigating AML Risks in the Commercial Gaming Industry 🎲 The American Gaming Association’s (AGA) annual State of the States report provides a deep dive into the commercial gaming industry's financial landscape in 2023. With 36 jurisdictions hosting commercial gaming operations, the industry is not only expanding but also facing complex regulatory challenges. As experts in anti-financial crime consulting, we recognize that the growth of the gaming sector brings significant money laundering risks that cannot be overlooked. The detailed analyses of state-by-state gaming operations highlight the importance of robust compliance frameworks tailored to each jurisdiction's specific regulatory environment. 🔍 Key Takeaways for AML in the Gaming Industry: ✅ Jurisdictional Variability: With varying legal frameworks across the 36 states, gaming operators must navigate a complex regulatory landscape. A one-size-fits-all approach to AML compliance is insufficient; instead, a tailored strategy that considers local laws and regulations is essential. ✅ Emerging Threats: As gaming options expand, so do the avenues for illicit financial activities. The report underscores the need for constant vigilance and adaptation of AML protocols to address new methods that money launderers may exploit. ✅ Policy Discussions & Future Challenges: The report’s insights into ongoing policy debates and future challenges emphasize the critical need for forward-thinking AML strategies. Operators must stay ahead of regulatory changes and ensure that their compliance measures are not just reactive but proactive. ✅ Interactive Tools for Compliance: The companion State of Play map offers an innovative way for operators to stay informed about regulatory requirements. Leveraging such tools can enhance the effectiveness of AML programs by providing real-time data and insights. At AFC Group, we’re dedicated to helping gaming operators navigate these challenges with confidence. Our AML consulting services are designed to empower your business to meet regulatory demands and safeguard your operations against financial crimes. Let’s work together to ensure that as the gaming industry evolves, so does your ability to mitigate AML risks effectively. 💼🔒 📥 Contact us today to learn more about how we can support your compliance needs. www.afcgrp.com #AML #GamingIndustry #Compliance #RiskManagement #AGAreport2023 #AntiMoneyLaundering

Hristijan Blazovski, head of compliance of Eleving Consumer Finance and Founder of Edulactica said, “AML Watcher's vision to create a solution that will be simple to use, and a solution 
with as little operator activity as possible, can contribute to improving the defense against money laundering and thereby reducing the impact of money laundering.” The user interface and navigation of AML Watcher enhances the user experience and reduces false positives. AML Watcher boasts a variety of search fields, ensuring users can refine their searches effectively. With access to multiple data sources, users can customize their searches to suit their specific requirements, maximizing the utility of the platform. Moreover, AML Watcher introduces innovative features such as Biometric AML, where users can utilize images for precise matches, mitigating the risk of false positives. The inclusion of the Fuzzy Scale further empowers users by allowing them to adjust match rates according to their needs, whether they seek exact matches or similar names. Additionally, the platform offers custom risk engines tailored to different industries, ensuring compliance with industry-specific thresholds. Furthermore, AML Watcher simplifies the search process with features like AKAs (Also Known As), facilitating searches for individuals with multiple names or aliases. Additionally, RCAs (Relatives and Close Associates) broaden the scope of searches by including data on the entity's family and associates. To experience the user-friendly interface and powerful features firsthand, visit AML Watcher: www.amlwatcher.com. #AML #Compliance #UserInterface #Navigation #BiometricAML #FuzzyScale #AMLWatcher

If you haven’t read this one, you should! A great read from FCA: https://lnkd.in/eFdrtdRv Love the 4 focus areas mentioned in this article, Data and technology, Collaboration, Awareness and Performance metrics. These are paramount when it comes to financial crime controls and in my view the things that will really make a difference are: 👉 Data & technology: Convergence of Anti-Fraud and AML teams (sorry I cant take myself to call it FrAML – hate the phrase), tech and data (its not just AML screening, its much more) with AI layer and insights on top delivered via APIs will be a real game changer here. 👉 Collaboration: FCA is doing some great work here. Social media scam clam down, PETs and blockchains to securely transfer data, synthetic data lakes for constant tuning of algos 👉 Awareness: Around 64% of the world population uses social media. Governments around the world should rely on this platform to create consumer awareness on new and upcoming scams. You should have a tiktoker in every regulator. 😬 👉 Metrics: Financial crime effectiveness and performance KPIs should become KPIs of the board, if not already. Gone are the days for people to think FCC is a cost centre and thus increasing the budgets and more and more investments going into Anti fraud and AML teams and clear ownerships and accountability. #fightfinancialcrime #fraudprevention #lsegriskintelligence

Australia is strengthening its #AML and #CTF regulations and lowering transaction thresholds for gaming and wagering operators. Are you ready? We’re ready to help: - Verify pre-commencement customer identities - Automate compliance and reduce manual effort - Strengthen security and detect financial crimes - Adapt to regulatory changes with ease Get in touch to get ahead of #CustomerDueDiligence #Compliance and protect your business: https://lnkd.in/d3-bRi4J #IdentityVerification #CustomerOnboarding

I'm thrilled to announce the launch of WatchEye, previously available only to our AML/CTF clients via API, now available as a SaaS solution. This latest addition to Global Data's suite of solutions is designed to combat financial crime across all industries. WatchEye permits businesses to monitor their customer files for specific needs, providing real-time or scheduled alerts and comprehensive surveillance of suspicious transactions and data changes. I was asked why we developed WatchEye alongside our other recent technological advancements and whether Global Data was shifting away from its traditional data supplier role and moving into the tech space. As CEO, I explained, "As a prominent RegTech and Data supplier, we've always had the dual capability to offer both data information services and automated tech solutions. Now, we're extending these offerings in combination with our traditional data supply services. The need for robust tools to fight identity and financial crime in Australia is growing across all sectors, and WatchEye is our latest answer to meet this demand. Not all businesses have APIs, so we build solutions to assist enterprises of all sizes." This product launch is a key part of our broader strategy to expand our offerings in IDV (Identity Verification), KYC (Know Your Customer), AML-CTF (Anti-Money Laundering and Counter-Terrorism Financing), and fraud management. It's a significant milestone as we prepare for the international growth journey we plan to embark upon. A big thank you to our exceptional Data and Development teams. As always, your dedication and hard work have been nothing short of amazing, and your commitment to innovation keeps us ahead in the fight against financial crime while demonstrating the regulatory benefits of partnering with Global Data. Stay tuned as we continue to roll out further exciting developments. We're just getting started, and I'm eager to see how WatchEye, together with our other recent innovations, will support all industries from both regulatory and business intelligence perspectives. #FinancialCrime #TransactionMonitoring #IDV #KYC #AML #CTF #FraudManagement #RegTech

With FACT360, iGaming operators can prove compliance and ensure player safety. Our AI-driven platform oversees AML, fraud, player safety, KYC, and more 🎲 ➡️ https://bit.ly/4bxn8Ol #iGaming #Compliance #Data #Technology #ArtificialIntelligence

Red Flag Tests from AML Analytics is a ground-breaking solution designed to carry out a transaction monitoring system health check using Smart Scenarios consisting of synthesised transaction data to validate system performance. The solution has been created using the knowledge and understanding of patterns that emerge from the analysis of criminal transactional activity. Red Flag Tests: ❗️uncovers transactional patterns consistent with money laundering typologies. ❗️identifies vulnerabilities in a transaction monitoring system’s alerting capability. ❗️validates the performance of a system and the rules in place at the click of a button. ❗️is an advanced RegTech approach to TM system improvement that removes the need for expensive consultancy work. For more information about Red Flag Tests, visit out website: #MoneyLaundering #Innovation #RegTech #AML #Risk