The Evolution of Information Sharing in Countering Finance Crime
The financial industry has become increasingly reliant upon information sharing between institutions to gather sufficient data to fight various forms of financial crime, including fraud and anti money laundering (AML). The Future of Financial Intelligence Sharing Research (FFIS) program at the Royal United Services Institute (RUSI) is interested in the processes, organization, and partnerships of […]
Can Standardization Help Tackle Trade Finance Fraud?
How Lenders Can Leverage Technology to Mitigate Duplicate Trade Fraud Prevent Trade Finance Fraud Through Standardization Practices Trade finance fraud is not new and has been surfacing in headlines more and more in recent years. Some of this may be related to the post-Covid demand on the supply chain. However, others believe that it has […]
Inter-bank Data Sharing, the New Frontier of Fraud Detection and Prevention
This blog is a guest blog from Tari Schreider, Strategic Advisor at Aite-Novarica Group. Canadian Bank Fraud is on the Rise Fraud is a growing epidemic that has spread to financial institutions throughout the world. Although fraud is a global problem, some countries, including Canada, experience a greater incidence of financial fraud than others. A […]
How To Share Financial Intelligence Under GDPR – 3 Key Takeaways
While financial regulators increasingly call for information sharing within the industry, data privacy compliance poses barriers to inter-institutional and cross-border collaboration. In this challenging situation, new Privacy-Enhancing Technologies (PETs) can help enable secure data sharing without compromising privacy, security, and regulatory compliance. We brought industry experts together for a fireside chat on Financial Intelligence Sharing […]
Duality Welcomes Jim Richards to its Advisory Board
We are honored to welcome Jim Richards to the Duality Advisory Board. Jim is the Founder and Principal of RegTech Consulting and has three decades of experience in leading anti-financial-crimes programs at large banks. Prior to forming RegTech Consulting in April 2018, Jim was an Executive Vice-President, the Bank Secrecy Act (BSA) Officer, and Global […]
Privacy-Preserving Information Sharing Against Financial Crime
Data is one of our main weapons in the fight against financial crime and the COVID-19 pandemic has shown that this holds true for other worldwide challenges as well. Just as governments, financial institutions, data scientists, and tech companies have been fighting financial crime over the last two decades, the world is now feverishly building […]