account reconciliation software
March 30 2021
4 mins

Account Reconciliation Software

What is Reconciliation in Finance and Bank Reconciliation Software?  Before defining bank reconciliation software, let’s first understand what account reconciliation in finance means. In a financial...
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March 26 2021
4 mins

The Fourth Money Laundering Directive - All You Need To Know

What is the 4th EU Money Laundering Directive (4AMLD)? 4th EU money laundering directive: The Fourth AML Directive is a legislation passed by the European Union and ratified by the European...
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March 25 2021
5 mins

How to Maintain Effective Sanctions Screening?

What is Sanctions Screening in Banking and Why is it Required? Sanctions Screening in banking: Sanctions Screening plays a big role in the fight against financial crime globally. Financial crime...
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AML insurance
March 25 2021
8 mins

Why Do We Need Anti Money Laundering (AML) In the Insurance Sector?

Financial crime has been recorded in the insurance industry across the world. According to a research done by PWC in 2018, 62 percent of those surveyed have been victims of financial fraud in the...
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March 16 2021
3 mins

Introduction to the Financial Conduct Authority: Money Laundering in The UK

What is the Financial Conduct Authority (FCA)? The Financial Conduct Authority is a non-governmental organisation that regulates the financial services industry in the United Kingdom.
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March 16 2021
5 mins

What is Money Laundering Act?

What is the Money Laundering Act? What is the Money Laundering Act? Money laundering refers to the act of sneaking “dirty” money obtained through criminal activities through seemingly legitimate...
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layering in money laundering
March 12 2021
5 mins

Layering in Money Laundering: Everything You Need To Know

Criminals profit immensely from illegal activities such as human trafficking, sales of arms and prohibited drugs, extortion, corruption and theft. They, somehow, need to conceal the criminal nature...
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February 28 2021
5 mins

What is Customer Due Diligence (CDD)?

Banks and other financial institutions must have AML/CFT systems in place to verify their customers' identity and the nature of their business as part of their Customer Due Diligence (CDD).
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February 28 2021
5 mins

How to Reconcile General Ledger Accounts?

What is Reconciliation in Accounting? How to Reconcile an Account? What is reconciliation in accounting? How to reconcile an account? Reconciliation in accounting stands for the comparison between...
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regtech
February 26 2021
5 mins

Regtech: What it is and How it Solves Business Problems

What is RegTech? Regulatory technology, or RegTech, is a new industry that uses modern information technology to enhance regulatory workflows. RegTech applies modern technologies including artificial...
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intercompany reconciliation
February 22 2021
7 mins

What is Intercompany Reconciliation (ICR) and why is it required?

Intercompany Reconciliation (ICR) stands for the reconciling of figures among two consecutive branches or legal entities under the same parent institute when a transaction takes place. Out of the two...
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February 22 2021
4 mins

What is Tax-Related Identity Theft?

What is Tax-Related Identity Theft? Tax-related identity theft or tax fraud occurs when an identity thief steals a taxpayer’s identity to file for a fraudulent return and claim their tax refund. The...
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