Afleveringen
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Would you rather spend money recovering from a fraud-related attack or building an anti-fraud strategy? Organizations who become victims of fraud often find themselves paying enormous sums of money, managing severe reputational damage, and navigating uncertainties on how to better prepare for the future.
Transforming fraud strategy towards an organization's growth engineHow to discuss anti-fraud return on investmentAnti-fraud performance indicatorsHow senior executives can better engage with their fraud teamsWhat anti-fraud vendors should consider
In this episode of KYC Decoded we welcome Chen Zamir, fraud strategy advisor and founder of the consultancy Native[risk]. Chen shares his deep expertise on the topic of fraud with host Alex Pillow, covering ideas like:To learn more from Chen, subscribe to his weekly newsletter, The Saturday Fraud Strategist.
Find out how you can transform risk management across your organization with Moodyâs Maxsightâą unified risk platform and feel free to get in touch; we would love to hear from you. -
Australia recently passed an amended anti-money laundering and counter-terrorism financing (AML/CTF) bill that will soon include Tranche 2 entities in its regulatory regime.
Introduction of the Tranche 2 regulationsChallenges and opportunities for firms implementing the reformsInternational comparisons of similar regimes, and opportunities for harmonizing regulations
The result? Approximately 100,000 new entities under its scope.
Regulating non-financial entities is not a new undertaking, as weâve seen in countries like the UK, Singapore, and United Arab Emirates. Crucial to the success of the regime and overall client experience will be how Australian firms adopt the best practices shown by firms in other parts of the world, while ensuring they account for the nuances of their domestic market.
In this episode of KYC Decoded, risk advisory lawyer, Jeremy Moller, from Norton Rose Fulbright and Qing Liu, Moody's Senior Director of Compliance & Third Party Risk in Australia, sit down with host Alex Pillow to discuss what the anticipated changes mean for Tranche 2 obliged entities and the future of compliance in Australia.
Key topics:Additional resources:
Register for Moodyâs in-person Sydney event on April 3 â the event features a blend of plenary and breakout sessions led by industry peers and Moodyâs financial crime practice lead.Law Council of Australia: AML/CTF Guidance and Vulnerabilities AnalysisLaw Society of New South Wales AML/CTF HubInformation on AUSTRACâs AML/CTF ReformNorton Rose Fulbrightâs Tranche 2 and AML/CTF Reforms HubVisit our website and get in touch to learn more â we would love to hear from you.
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Zijn er afleveringen die ontbreken?
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We find ourselves 3 years out from the Russia/Ukraine war, and the sanctions climate continues to evolve. From changing global politicians to sanctions regulations and enforcements to evasion tactics, it is imperative compliance professionals stay alive to risks, and the consequences of not doing so.
Why sanctions are such a commonly used geopolitical tacticHow changing political leaders globally can impact sanctions across jurisdictionsThe financial risks of not adhering to sanctions complianceScalable, automated understanding of current export controlsHow corporations and banks have adjusted staffing to keep up with the regulationsWhere organizations should start when beefing up their sanctions risk teams
In this episode of KYC Decoded, we are pleased to welcome Moodyâs Industry Practice Lead, Hera Smith, an expert on sanctions and AML. In this brief, informative conversation with host, Alex Pillow, Hera walks us through how sanctions have changed in the past year, the current sanctions ecosystem, and what to look for in 2025. They explore:If you would like to find out more, please check out the following resources:
A new frontier in sanctions awareness and compliance whitepaperAre you ready for reporting on outgoing transfers involving Russian entities?Sanctions crisis management: preparing for potential changeWe also welcome you to visit our website or get in touch to discuss sanctions; we would love to hear from you.
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An exponential growth in data has coincided with the era of exponential risk - what does this mean for anti-financial crime and risk professionals? With ever increasing amounts of unstructured data and information at their fingertips, how can professional investigators implement sophisticated open-source intelligence (OSINT) investigations to make informed decisions?
How do we extract real insights from unstructured data?What is the methodology for running an investigation?How can leaders deploy the right balance of data, technology, and human investigators, when conducting OSINT investigations?What makes OSINT investigations difficult for practitioners in the private sector vs public sector?What is the impact of advanced OSINT?How much of an OSINT investigation can (and should) be automated?What are the legal and ethical guardrails around the use of open source data?
In this episode of KYC Decoded, we welcome the CEO of Blackdot Solutions and former forensic investigator, Stuart Clarke. Stuart breaks down what is needed for high-functioning OSINT investigations in an enlightening conversation with host, Alex Pillow. Together they explore questions like:If you are keen to learn more, check out the resources below:
Blackdot Solutions, The OSINT handbookMoodyâs Maxsightâą InvestigationsPlease also visit our website and get in touch; we would love to hear from you.
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Imagine a world where the bulk of your workday is dedicated to gaining a deep understanding of financial criminal behavior and forecasting future transgressions - rather than being spent on monotonous research hunting for risk signals down rabbit holes. Could generative AI help make this vision a reality?
Democratizing data access and team interactionHow AI agents can help transform traditional workflowsThe foundational need for Master Data ManagementThe potential opportunities for practitioners who embrace a new way of thinking
In this episode of KYC Decoded, Moodyâs own Chief Product Officer, Nick Reed, sits down with host, Alex Pillow, to candidly discuss the possibility of addressing integrated risk at scale leveraging AI. Highlights of their conversation include:If this episode leaves you eager to discover more about new unified risk management possibilities, register for our upcoming webinar "How unified risk management is decoding risk and unlocking opportunity," which will also be available on-demand. We encourage you to visit Moodyâs Maxsightâą and please get in touch. We would love to hear from you.
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Human trafficking is one of the most terrible crimes imaginable. And, yet, the magnitude of it is so overwhelming that it can feel nearly impossible to tackle. But, what if there was a way to flip this problem on its head? Could we learn from technologists who use feedback loops to build information systems and apply this same way of thinking to a new challenge?
How do data and technology change the possibilities for how we tackle human trafficking?Within the prevention, detection, and disruption paradigm, where should innovation focus first?What data points should we look at when building new technologies and what kinds of unstructured data should be considered?What stakeholders should be included to collect data and work through possible solutions?Similarities between the data challenges of AML and transaction monitoring with this part of the risk ecosystem, and how they could learn from each otherHow could feedback loops help fight human trafficking more effectively?
In this KYC Decoded episode, we are honored to give the mic to Researcher and Assistant Professor of Information Systems at University of North Texas, Laurie Giddens. Partnering with Jodie Brinkerhoff, VP of Innovation at the third busiest airport in the world, the Dallas Fort Worth International Airport, Laurie was able to gather valuable, firsthand data and insights to better understand the existing challenges when combating human trafficking. Her enlightening conversation with host, Alex Pillow, explores probing questions like:If you would like to continue this learning, please check out the resources below:
National Academies, Developing an Airport Program to Address Human Trafficking: A GuideLaurieâs Google Scholar pageInformation Systems Journal, Information technology as a resource to counter domestic sex trafficking in the United StatesMoodyâs The Infinite Game docuseriesTo learn how you can better equip your organization to fight human trafficking, please visit our website and get in touch. We would love to hear from you.
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The cat and mouse game of criminals vs. regulators and compliance teams can feel intense, and the stakes are high. With advanced AI and deep learning technologies like deepfake, fraudulent activity is easier, cheaper, and more sophisticated than ever before. However, the same advancement in tools and technologies is exactly whatâs needed to fight back, and even get ahead.
What are deepfakes and how are they created?What are the far-reaching consequences of using deepfake technologies for nefarious activity, and who are the victims?How do we know what to trust when we canât rely on our eyes and ears alone?What controls and technologies are needed in the identification space?Who is leading the way in getting ahead of fraudsters?How can we use powerful technology ethically and responsibly?
In this episode of KYC Decoded, we are happy to share the mic with deepfake experts David Thomas, Head of Product - Global Documents & Biometrics at GBG, and Paul Warren-Tape, Head of Risk and Compliance at IDVerse. Their gripping conversation with host Alex Pillow explores questions like:Please listen to the episode wherever you get your podcasts, and if you are curious to learn more, check out the recommended resources below:
Coded Bias documentaryGartner report: Emerging Tech: Combating Deepfakes, Deception and Disinformation in Multimedia ContentIDVerse report: The Truth About Identity and InclusionThe Social Dilemma documentaryGBG resources and insights libraryNational Institute for Science and Technology (NIST) Cybersecurity FrameworkIf you would like to chat with Moody's about mitigating financial crime risk in your organization, please visit our website and get in touch. We would love to hear from you.
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This episode includes accounts of physical, mental, and sexual abuse, stemming from modern slavery and human trafficking. These topics may be distressing for some individuals. Listener discretion is advised.
The current state and scope of modern slavery laws and regulations An overview of the various forms of human exploitation The significance of supply chain oversight and ethical business practices Sharing the harrowing experiences faced by victims of modern slavery The need for unified efforts across industries to effectively address this issue The role of technological innovations in combating modern slavery
In the making of "The Infinite Game," Moody's docuseries, a wealth of expert interviews were conducted, however due to the time constraints and narrative of the piece some interviews were regrettably cut during the final edit. Justine Carterâs illuminating interview on combating human trafficking and modern slavery was one of these, but we're delighted to now bring it the KYC Decoded audience as a special episode where listeners can learn from Justine's solo narrative that offers a deep dive into the entwined realities of human trafficking, financial crime, and their impacts. Key topics she discusses include:Check out these additional resources:
Visit Unseen UKâs website Watch The Infinite Game DocuseriesTo discover how Moodyâs can assist your organization in understanding and monitoring risks linked to modern slavery, forced labor, and human trafficking, visit our website or get in touch. We would love to hear from you.
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You may be familiar with yacht owners being sanctioned, but what of the potential risks tied to the yachts themselves? Burmese teak wood, commonly found in marine vessels, is known for its exceptional quality, natural water resistance, and premium price tag. Unfortunately, that price tag is not nearly as steep as the potential consequences of supporting the illegal timber trade.
The differences between legal and illegal timber tradingThe illegal timber trade in MyanmarGlobal regulations to combat the illegal timber tradeIndustries most vulnerable to risks associated with illegal timber tradingThe integrated risks involved with illegal deforestation, sanctions, money laundering, bribery and corruption, counterfeiting, and more
In this episode of KYC Decoded, we're honored to welcome Kate Klikis, forest campaigner and Myanmar timber expert from the Environmental Investigation Agency (EIA). In an enlightening conversation with host, Alex Pillow, Kate educates us on the illegal timber trade and its greater implications. Key topics include:If you would like to learn more, check out the recommended resources shared during this episode below:
The Croatian Connection ExposedEIA forest reportsActs of Defiance: How US traders are ignoring sanctions to import conflict teak from MyanmarEIA YouTube channelEIA LinkedInEIA InstagramEIA FacebookEIA ThreadsTo take the next step in your risk and compliance program, please visit our website and get in touch. We would love to hear from you.
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Let's get into the evolving world of fraud on KYC Decoded, where the complexity and sophistication of fraud now poses new and daunting challenges for professionals and organizations alike. This episode draws on invaluable insights from the Cifas Fraudscape report, brought to life by guest, Stephen Dalton, Director of Intelligence at Cifas. Together with our host, Alex Pillow, they analyze the most concerning fraud trends, uncover the advanced tactics of fraudsters, and emphasize the importance of data in defending against threats.
The factors leading to the rise in reported fraud cases and strategies to combat this upward trend The sophistication of modern scams and the impact on targeted industries Fraudulent activities committed by lone individuals versus organized crime groups How AI is leveraged by both fraudsters and compliance professionals The essential measures to detecting and disrupting fraud
Key topics in this episode include:To learn how Moodyâs compliance and third-party risk management can help your organization with fraud prevention, please visit our website or get in touch; weâd love to hear from you.
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The positioning of âtraditionalâ KYC against new and emerging methodologies creates opportunities to assess the most effective processes and technologies used to prevent financial crime. It raises the question: What transformative actions and AI implementations are needed to revolutionize a KYC framework, ensuring the industry is prepared for future advancement?
In this episode of KYC Decoded, Hanjo Seibert, managing director and partner at Boston Consulting Group, and global lead for Compliance and Anti-Financial Crime (AFC) Technology Transformation joins our host Alex Pillow. Their insightful dialogue provides fresh viewpoints on questions such as:
Are traditional KYC/AML methods sufficient to address the challenges professionals face today?How can rules-based and data-driven approaches combine to increase efficiency?How should professionals approach problem-solving: by prioritizing data first or by putting compliance considerations first?How can financial institutions ensure personnel are trained to effectively use new technologies against fraudsters who are also innovating rapidly?Will we continue to see multiple vendors providing diverse solutions, or is there a trend towards consolidating services into one-stop shops?To find out more about the topics discussed in this episode - check out these resources:
Watch Hanjoâs Ted Talk: What you can do to stop economic crimeListen to the BCG on Compliance podcast: Apple, Spotify, AmazonRead Moodyâs blog post: 8 best financial crime booksAnd if you would like to see how Moodyâs compliance and third-party risk management can help with your approach to KYC, please visit our website or get in touch; weâd love to hear from you.
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Disclaimer: Please note in the introduction to this episode it is mentioned that Russia further invaded Ukraine in 2020 rather than the correct year of 2022.
In this episode of KYC Decoded, we dive into Article 5r which mandates European banks report any money transfers exceeding 100,000 euros leaving the EU, targeting entities with more than 40% Russian ownership.
Join Moodyâs Industry Practice Lead, Nicola Passariello, and host Alex Pillow as they unravel the complexities of financial surveillance under Article 5r of EU Reg. 833. Learn more about the implications this directive has for the financial sector and navigating complex ownership structures to meet new deadlines.
Highlights include:
An introduction and explanation of Article 5r of EU Reg. 833Reporting requirements for financial institutionsChallenges in identifying direct and indirect ownershipImportance of having a full KYC programCommon pitfalls and guidance for practitionersFor additional resources mentioned in this episode, visit:
The Banker articleMoodyâs article 5r blogFor more information visit our website and get in touch with one of our experts â we'd love to hear from you.
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From social media account information to password creation to IP addresses, the digital footprint we create grows larger every time we go online â and it is virtually impossible to avoid. At the same time, sophisticated criminals can capture this wealth of Personally Identifiable Information (PII) and create synthetic identities to commit crimes like fraud, money laundering, illegal weapons dealing, and more.
What is a synthetic identity?What threats do synthetic identities pose to the financial sector at large?How are criminals stealing data?What populations and kinds of businesses are most vulnerable to the risks associated with synthetic identities?What are âghostsâ in the context of synthetic identities, and how can they attack businesses?How is AI changing the landscape of creating synthetic identities?How can the risks created by synthetic identity fraud be mitigated?
Although scary, the first thing we can do to combat this criminal behavior is learn about it. So, we are excited to share the mic with Constella's experts, Jason Wagner, Vice President of Identity & Digital Intelligence, and Dan Mathews, Director of Worldwide Sales Engineering.
You do not want to miss this incredibly engaging and knowledgeable conversation with host, Alex Pillow, asking hard-hitting questions like:To learn more about topics discussed on this episode, check out the resources mentioned below:
Constella blogConstella Intelligence LinkedIn accountConstella's 2024 Identity Breach ReportIf you want to be at the forefront of combatting financial crime in your organization, visit our website to see how we can help, and feel free to get in touch â we would love to hear from you.
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In this episode, KYC Decoded welcomes Derek Vadala, Chief Risk Officer at BitSight, who shares his insights on the intricacies of cyber risk, technology risk, and digital risk with host Alex Pillow. They explore the evolving nature of cyber threats, from financially motivated attacks to nation-state espionage, and discuss best practices for mitigating these risks through in depth defense strategies and ongoing monitoring. Derek emphasizes the criticality of a risk-based approach to supply chain due diligence and the importance of integrating cyber risk management into broader compliance frameworks.
Key takeaways:
Cyber risk encompasses adversarial activities, technology issues, and digital transformation challenges, each requiring distinct mitigation strategiesFinancially motivated cyber criminals and nation-state actors use different tactics but can blur lines, necessitating vigilant, multifaceted defensesEffective cyber defense relies on automation and layered security measures, beyond just user educationIntegrating cyber risk management with overall compliance and due diligence processes enhances organizational resilienceTo learn more about cyber related risk, please check out the resources below:
Risky business podcastCyber Security Headlines podcastTo learn how you can mitigate cyber-related risk in your organization, visit our website and feel free to get in touch - we would love to hear from you.
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This episode introduces the Data and Technology for Compliance (DT4C) Alliance, an industry group comprising leading data and technology companies focused on enhancing financial crime prevention in the EU. Host Alex Pillow, along with Ted Datta from Moody's, and Gem Conn from Dow Jones Risk and Compliance, discuss the Alliance's goals, key initiatives, and the impact they have had so far, including the inclusion of high-quality data standards in AML regulations.
They explore how the alliance works in practice, the balance between data privacy and AML effectiveness, and the broader implications for risk and compliance professionals. For more information or to get involved, listeners are encouraged to visit the DT4C website www.dt4calliance.eu, email the [email protected] or reach out to the contributors on LinkedIn. -
As digital assets continue to evolve and enrich investment portfolios, they simultaneously demand innovative anti-money laundering (AML) and compliance strategies to counteract potential exploitation by bad actors. There is a critical need for financial service firms to adapt to these changes, understanding the money laundering risks tied to crypto.
In this episode of KYC Decoded, we are joined by Liat Shetret, Director of Global Policy and Regulation at Elliptic, and Karmjeet Singh, Product Strategist at Moodyâs, who together unravel the pivotal role of Virtual Asset Service Providers (VASP) in navigating and addressing these emerging challenges in the digital economy. Key topics of their conversation include:
The rapid evolution and developments of the VASP and cryptocurrency ecosystem in recent years The sophistication and complexities of criminal activity in the digital world Strategies to effectively manage the challenges posed by VASP How compliance officers balance dual roles of safeguarding against risk while facilitating organizational growth Predictions on future crypto market trends and their implications for risk and compliance professionalsFor additional resources:
Read Ellipticâs blogSign up for Ellipticâs newsletterListen to KYC Decodedâs Crypto Miniseries: Part 1, Part 2, Part 3To learn more about our VASP screening for your organization, please feel free to reach out â we would love to hear from you!
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Some of the most crucial actors in the world of regulatory compliance exist within the public sector. But, with so many private sector players gathering data and making risk-based decisions, how can the two groups bridge any divides to overcome increasingly sophisticated criminals?
Why is there a need to invest more in preventing economic crime and money laundering?How can we strike a balance between a public-private sector feedback loop and preserving confidentiality?What do good public-private partnerships look like and are there opportunities for improvement?When combatting financial crime, where should the public sector take the lead and where the private sector?How should data and technology vendors be involved with their private sector partners and the public sector?What makes a good SAR and what can be said about software that automates writing them?
In this episode of KYC Decoded, host Alex Pillow is joined by public sector colleagues Linda Hamilton, Deputy Director of Organised Crime in Fraud Investigations Service at the HM Revenue & Customs (HMRC), and Kevin Newe, Illicit Finances Threat Lead from HMRC. Their engaging conversation provides unique perspectives on questions like:To learn more about what was discussed in this episode, be sure to check out these additional resources:
UK Financial Intelligence UnitFinancial Action Task Force risk trends and methodologiesFATF Annual Report 2020-2021National Economic Crime CentreAnd, if youâd like to see how Moodyâs Compliance and third-party risk management can help you with AML, please visit our website or get in touch; weâd love to hear from you.
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As regulatory stakes grow higher, so does the need for reliable, comprehensive data when evaluating risk. Enter: the Moodyâs Entity Verification API. In a single source, this powerful tool layers curated data on over 525 million global companies along with real-time entity information from primary sources. Here to share more on the making of this tool and its value in a compliance program are Johanna Konrad, Moodyâs Compliance & third-party risk Managing Director of Product Management, and Jon Hanmer, Moodyâs Sales Senior Director. Joining host, Alex Pillow, they discussed:
How direct customer feedback shaped what the Entity Verification API deliversHow the solution benefits stakeholders in different sectorsWhy strong entity verification lays the groundwork for a âgolden record,â and why that mattersEnablement of practitioners to monitor entities in a perpetual KYC (pKYC) programFor more information about the Moodyâs Entity Verification API, visit our website. If youâd like to book a demo or learn more, please get in touch; we would love to hear from you!
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The term âEntity Verificationâ can mean different things to different people. Perhaps it brings to mind beneficial ownership, identity checks, or third-party risk management. Regardless, Entity Verification is the bedrock for understanding who you are doing business with.
Why the time is now to be ramping up Entity Verification programsChallenges that can make Entity Verification difficult to implementThe downstream benefits of a strong Entity Verification foundationThe need for proper and robust data governanceHow AI is being used to make Entity Verification scale in a quick, reliable wayThe elusive âgolden recordâ - a single view of a data entity
We are pleased to welcome back guest, Paul Nola, Partner at Context Consulting, for this episode of Moodyâs Talks: KYC Decoded. Paul walks us through the findings of Moodyâs latest study on Entity Verification. In addition to sharing how the study was conducted and some of the results of the report, Paul and host, Alex Pillow, discuss common themes that emerged, such as:You can find more information about Entity Verification on our website, or check out the resource below:
Who are you doing business with? A Moodyâs study into Entity Verification
If you would like to learn more about Moodyâs Entity Verification data offerings, please get in touch â we would love to hear from you.
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You may recognize him as Moodyâs Talks: KYC Decoded editor and producer, but, Mark Rundle, has a passion for storytelling that extends beyond podcasting. Mark is also a brilliant documentary filmmaker, and we are excited to have him join us behind the microphone in this weekâs episode, discussing his recent three-part documentary series, The Infinite Game. These 10-minute episodes provide a searing view into the world of corruption, money laundering, and, most importantly, the people who are affected by these crimes.
The inspiration for making this seriesThe creative process for structuring a compelling narrativeWhat he hopes viewers will take away from The Infinite Game
Follow along for a behind-the-scenes look at:Be sure to watch the series, or watch again if you have already seen it on our website or YouTube. And, to take another step forward, learn how Moodyâs can better equip you and your organization to combat financial crime. Get in touch â we would love to hear from you.
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