Yesterday, we reviewed the first part of 2016 in regards to changes in the technology, innovation and regulatory landscape for the online identity industry. Continuing on, here’s what happened in the last half of the year. July In July 2016, FinCEN (The U.S. Treasury Department’s Financial Crimes Enforcement Network), enacted new rules to close loopholes

We often hear a chorus of criticism relating to the compliance function. How do you define success? Some of this is the result of a political backlash. Chief compliance officers are the darlings in the corporate governance world, and there are forces aligned to challenge the importance of the compliance function. There are a number

Creating a strong FCPA compliance program — performing due diligence, knowing your customer, partners and suppliers and implementing ongoing monitoring procedures — protects your business and is a smart, ethical business strategy. Grease the wheels. Under the table. Kickback, payola or hush money. It’s telling that we have so many terms for bribery; whatever name

When many people think of AI (artificial intelligence), they think of Terminator, a human-crushing, world-ending, indifferent machine. When almost anyone thinks of paperwork, they think soul-crushing, cumbersome, tedious work. What if AI, instead of destroying people, destroys paperwork, ending the drudgery of mindless work? No, we’re not talking about some Hollywood sci-fi flick, but rather

Beneficial ownership laws now extend to all business relationships. Learn how companies can protect themselves with an effective AML (anti-money laundering) and KYC (know your customer) compliance program. Your company works with a huge network of vendors, suppliers, customers and third-party intermediaries. Question, do you really know who you’re doing business with? You better, companies

Trulioo feels privileged being the WATCH LIST COMPANY IN FOCUS for the Canadian Technology Review* of September 30, 2016. As the article points out, there’s “tremendous attention to digitalization of the banking industry with regulation, AML and KYC,” which was the focus of numerous sessions at the recent Sibos Conference, the world’s premier financial services

Regulatory Curse or RegTech Opportunity?

Thursday, 06 October 2016

RegTech Set to Revolutionize Compliance and Enable New Advanced Reporting and Data Modeling Capabilities In life, there always seems to be a battle between risk and reward. Take a chance, something great can come about versus don’t rock the boat, it can lead to trouble. Whether it’s politics (conservative vs progressive), personal life decisions (a

The New York Department of Financial Services (NYDFS) will require transaction monitoring and filtering as of January 1, 2017. New York-regulated financial institutions are starting to re-evaluate their approach to anti-money laundering (AML) compliance to meet the new rule adopted by The New York Department of Financial Services (NYDFS) on June 30, 2016 (taking affect January 1,

The Rise of RegTech

Wednesday, 21 September 2016

Heralded by Deloitte as the “the new FinTech,” RegTech quickly rose to prominence in 2015. By the end of the year, Google search results for “RegTech” skyrocketed. Throughout 2016, “RegTech” became such a dominating buzzword that 2016 can be considered “The Year of RegTech.” With that in mind let’s take a look at the astronomic rise of

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