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Tag: Automation

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Scale to Prevail: Five Benefits of Proactively Scaling your Compliance Platform

March 7, 2023 by Verafin

Regulatory enforcement is rapidly evolving for crypto companies and manual processes are costing you more. As fines for compliance violations increase, staying ahead of regulatory requirements is a necessity for crypto companies, to avoid financial penalties and damage to your... 

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Big Lessons for Crypto Companies From Even Bigger AML Fines

March 6, 2023 by Verafin

For crypto companies, the immense challenge of navigating the  multitude of regulators, escalating number of fines, and evolving landscape of compliance is overwhelming. Crypto companies are facing increased pressure to remain compliant, while avoiding penalties and reputational damage. The Current... 

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Automating for Efficiency

February 2, 2023 by Verafin

The “crypto winter” has temporarily frozen many crypto company’s capabilities. As companies compensate for current challenges with budgetary reductions and increased layoffs, companies are continuously asking themselves how they can do less with more. Increased regulatory scrutiny and impending compliance... 

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Learning from the Past for a Lucrative Future

January 30, 2023 by Verafin

The landscape of financial crime is evolving – both for traditional financial institutions and crypto companies. As financial institutions advance anti-financial crime programs to maintain regulatory compliance and combat fraud, there are valuable lessons that crypto companies can use to... 

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AML Trends and Technology 2023

January 27, 2023 by Bill Heys

Keeping pace with the growing complexity of financial crime was a challenge for financial institutions in 2022 – finding a balance between meeting customers’ needs for faster, frictionless banking while managing regulatory scrutiny is no easy task. Investigators striving to... 

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Disorganized Data: How Unresolved Entities Complicate AML Investigations

September 22, 2022 by Verafin

From savings accounts and credit cards to online banking and P2P payments such as Zelle, today’s financial institutions offer more products and services than ever before. There are dozens of product lines and service providers, and each product may require... 

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A Mandate for Innovation in the AML Act of 2020

May 28, 2021 by Jim Richards

The fourth instalment in Jim Richards’ Renewing the BSA Series. Innovation is a key theme throughout the Anti-Money Laundering Act of 2020 (AMLA or the Act). As financial crimes evolve and regulatory compliance commitments advance, financial institutions need innovative solutions... 

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RPA: Improve Efficiency and Increase Productivity by Automating Routine Tasks

September 4, 2019 by Verafin

Financial crime management programs are increasingly challenged by limited time and resources, with BSA/AML and Fraud investigators often spending more time manually collecting data than investigating potentially suspicious activity. Institutions should consider how artificial intelligence, such as machine learning and... 

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