RTA Associates - Financial Crime & Conduct: Exploring Regulatory Technology – A New Approach

RegTech Associates, home of the RegTech Directory , is the largest independent RegTech community. We actively partner with regulators, RegTech service providers, regulated financial institutions and regulatory experts to promote collaboration in this space.

During the March 2018 event in Paris, participants including Kompli-Global, BNP Parobas, HSCBC and Capco expressed a strong appetite to understand how technology can help them address regulatory requirements, and to increase their awareness of existing solutions.

A range of themes emerged, including what Financial Crime and Conduct regulations have in common – both require monitoring a considerable number of data sources. Without adequate context, it is virtually impossible to begin addressing how to analyse effectively the enormous datasets involved.

Discussions outlined current trends and potential approaches, focusing on issues faced by specific financial services industry segments in addition to considering the wider contexts of globalisation and data-centric challenges.

This whitepaper sets out to share insights presented by banking and RegTech experts who participated in the event’s panel discussions.

John Davies, CEO of Kompli-Global, focused on how to ensure criminals cannot abuse customers and how financial institutions can perform better due diligence checks. He outlined how organised criminals understand rules-based systems and how these are fragmented across the globe – they consider situations in isolation and play on the rules of legitimate business. Past “deep” due diligence checks are known to have missed all signs of illegal activity – for example where some fraudsters were operating elaborate scams.

Given the complexities of international businesses, onboarding international clients can be particularly labour-intensive. Many checks that may be considered sufficient for a given purpose locally (e.g. requesting a copy of passports and utility bills) are very unlikely to be sufficient.


You can read the whitepaper as PDF


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kompli-IQ
A software as a service (SaaS) desktop portal, giving access to a global regulatory platform that uses proprietary artificial intelligence (AI) and deep search technologies to interrogate a wide variety of global data sources and web content.

kompli-RedBox
Searchable database to alert and flag anolmolies and potential Bad Actors.

kompli-QED
An end to end client on-boarding platform.

kompli-verify
When clients determine that additional human analysis is required, our highly trained in-country specialists can provide confirmation or verification of returned records on a case-by-case basis.

kompli-insight
Combining kompli-IQ's human investigatory abilities to deliver a written CDD report on a target subject. kompli-insight reports are the result of thorough interrogations performed against a comprehensive range of public domain information sources.

kompli-forensik
The ultimate Enhanced Due Diligence (EDD) report. From bespoke research and specialist investigation, clients’ requirements and direction, and specific focus on red flags identified at the CDD level

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Client confidentiality is of key importance to us. Kompli Intelligence has been successful in many sectors.

Payment Service Provider

kompli-IQ uncovered significant material intelligence that was otherwise unavailable to us.

Gambling Sector

kompli-insight conducted CDD on our VIP ‘high-rollers’ to gain insight into their backgrounds

Gambling Sector

We are considering our options, including closing the subject’s account and filing a Suspicious Activity Report (SAR) with the NCA.

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