Custody Banking and Emerging KYC NeedsTodd Breeden
Presentation prepared for one of the world's largest custodian banking service providers summarizing macro trends affecting the landscape and how to focus on emerging technology vendors in RegTech as a potential strategic solution to expand their business footprint
IMF Fintech report - cross board paymentClement Hsieh
The PPT content comes from IMF "Fintech and Financial Services - Initial Considerations" report. It gives clear overview to cross board payment, so it is used in our graduate Fintech course as case study.
Operational innovations in AML/CFT compliance processes and financial inclus...CGAP
This report contains the findings of a research project to identify and categorize leading operational AML* compliance practices among financial service providers for the identification, verification and ongoing monitoring and management of lower income customers. This project began with the hypothesis that an increasing number of financial service providers with products targeting lower income population segments are reducing client acquisition and monitoring costs, and improving efficiency and effectiveness of the processes in scope.
Custody Banking and Emerging KYC NeedsTodd Breeden
Presentation prepared for one of the world's largest custodian banking service providers summarizing macro trends affecting the landscape and how to focus on emerging technology vendors in RegTech as a potential strategic solution to expand their business footprint
IMF Fintech report - cross board paymentClement Hsieh
The PPT content comes from IMF "Fintech and Financial Services - Initial Considerations" report. It gives clear overview to cross board payment, so it is used in our graduate Fintech course as case study.
Operational innovations in AML/CFT compliance processes and financial inclus...CGAP
This report contains the findings of a research project to identify and categorize leading operational AML* compliance practices among financial service providers for the identification, verification and ongoing monitoring and management of lower income customers. This project began with the hypothesis that an increasing number of financial service providers with products targeting lower income population segments are reducing client acquisition and monitoring costs, and improving efficiency and effectiveness of the processes in scope.
E-book: How to manage Anti-Money Laundering and Counter Financing of Terroris...Jitske de Bruijne
Financial Institutions continue to face heightened fines and regulatory scrutiny over their AML/CFT Programs. This e-book helps you to manage AML/CFT Programs.
The FinTech sector has grown rapidly in last few years and is on track of ever evolving track. Prior to 2008 financial crisis, the traditional banking sector was the only playground available for financial needs. The financial crisis collapsed the traditional banking & financial mechanism and paved the way for more secure and updated financial transaction which led to emergence of FinTech, which has altered the economic viability of traditional banking sector participants to originate loans, translating into contraction of the credit supply for individuals and SMEs.
Today, financial markets & services are flooded with technology driven innovation, whereby new non-depository institutions- referred to as peer-to-peer financing, loan based crowdfunding platform, marketplace lenders (MPL) - providing loans of various types and duration to end users through online and mobile channels. Some of these companies lend from their own corpus/balancesheet, while some serve as brokers between investors and borrowers, commonly referred to as “Platform Lenders”.
Payments has been the frontrunner in the large scale consumer adoption of Fintech in India, aided by the spread of smartphones and mobile internet at affordable price points. Most FinTech players started out by identifying a niche/use case for building a customer base ( e.g. Paytm for online payments, Ola Money for cab payments, Airtel Money for phone bills etc.) and then expanding onto other services.
Indian regulatory authorities including RBI, SEBI & IRDA have adopted an accommodative stance towards an emerging Fintech sector without bringing in prohibitive guidelines to over regulate the sector. Despite catching up with the rapidly evolving eco system, Indian regulators have adopted a consultative approach and have been proactively foreseeing the need for adequate regulations, especially in the areas concerning public funds i.e. peer-to-peer lending, crowd funding and alternative currencies.
The Role of Regulations in the Development of Digital FinanceJohn Owens
This presentation focuses on the balancing act between innovation, safety and soundness of digital financial services as well as steps to support consumer protection. It also includes a review of the current guidelines and a checklist format to guide regulators and policy makers to compare their own regulations, policies, environments and supervisory capacity in relation to emerging developments in the field of DFS.
FATF's June 2013 Guidance Note on a Risk Based Approach to Implementing AML/C...Louise Malady
Understanding and using FATF's June 2013 Guidance note of a Risk Based Approach to Implementing AML/CFT Measures for mobile money and other new payment methods
Cyber Security Unit laws_and_regulatory_requirements.pptxSourabhNath4
Hello, cyber security notes and all. Details and various things.jsksjdhrjkdhdjdjdksjsbdks skgidbsks. Dudye8heueodheieheidhieheue. Sjsjsuowbsiskwbwiwngeiee wjehueowneur
Presentation to Ukraine Commodity Market Development Conference
The author of the presentation: Kevin Piccoli, Commodity Futures Trading Commission (US)
This Seminar will initiate a reflection regarding the extent to which innovation within the Financial Technology (FinTech) sector can and should be regulated.
The case will be illustrated with examples of the UK and EU market (e.g. the Financial Conduct Authority (FCA)’s Project ‘Innovate’ and the European Commission’s Single European Payment Area (SEPA)) and the implications for innovation will be discussed.
This will be complemented by introducing an Asian perspective as to the capacity of specific jurisdictions to frame and catalyse innovation, focusing on specific challenges and opportunities in Mainland China and Hong Kong.
AML and KYC Compliance: Why is it so CrucialFinarm
Security is the key point of every business. Organizations employ all the best practices, preventing a data breach and financial fraud. These include KYC and AML.
Learn more about these services from our presentation!
Money Laundering and Its Fall-out - ROLE OF INFORMATION TECHNOLOGY IN ANTI M...Resurgent India
In an effort to detect potential money laundering schemes, financial institutions have deployed anti-money laundering (AML) detection solutions and enterprise-wide procedural programs.
E-book: How to manage Anti-Money Laundering and Counter Financing of Terroris...Jitske de Bruijne
Financial Institutions continue to face heightened fines and regulatory scrutiny over their AML/CFT Programs. This e-book helps you to manage AML/CFT Programs.
The FinTech sector has grown rapidly in last few years and is on track of ever evolving track. Prior to 2008 financial crisis, the traditional banking sector was the only playground available for financial needs. The financial crisis collapsed the traditional banking & financial mechanism and paved the way for more secure and updated financial transaction which led to emergence of FinTech, which has altered the economic viability of traditional banking sector participants to originate loans, translating into contraction of the credit supply for individuals and SMEs.
Today, financial markets & services are flooded with technology driven innovation, whereby new non-depository institutions- referred to as peer-to-peer financing, loan based crowdfunding platform, marketplace lenders (MPL) - providing loans of various types and duration to end users through online and mobile channels. Some of these companies lend from their own corpus/balancesheet, while some serve as brokers between investors and borrowers, commonly referred to as “Platform Lenders”.
Payments has been the frontrunner in the large scale consumer adoption of Fintech in India, aided by the spread of smartphones and mobile internet at affordable price points. Most FinTech players started out by identifying a niche/use case for building a customer base ( e.g. Paytm for online payments, Ola Money for cab payments, Airtel Money for phone bills etc.) and then expanding onto other services.
Indian regulatory authorities including RBI, SEBI & IRDA have adopted an accommodative stance towards an emerging Fintech sector without bringing in prohibitive guidelines to over regulate the sector. Despite catching up with the rapidly evolving eco system, Indian regulators have adopted a consultative approach and have been proactively foreseeing the need for adequate regulations, especially in the areas concerning public funds i.e. peer-to-peer lending, crowd funding and alternative currencies.
The Role of Regulations in the Development of Digital FinanceJohn Owens
This presentation focuses on the balancing act between innovation, safety and soundness of digital financial services as well as steps to support consumer protection. It also includes a review of the current guidelines and a checklist format to guide regulators and policy makers to compare their own regulations, policies, environments and supervisory capacity in relation to emerging developments in the field of DFS.
FATF's June 2013 Guidance Note on a Risk Based Approach to Implementing AML/C...Louise Malady
Understanding and using FATF's June 2013 Guidance note of a Risk Based Approach to Implementing AML/CFT Measures for mobile money and other new payment methods
Cyber Security Unit laws_and_regulatory_requirements.pptxSourabhNath4
Hello, cyber security notes and all. Details and various things.jsksjdhrjkdhdjdjdksjsbdks skgidbsks. Dudye8heueodheieheidhieheue. Sjsjsuowbsiskwbwiwngeiee wjehueowneur
Presentation to Ukraine Commodity Market Development Conference
The author of the presentation: Kevin Piccoli, Commodity Futures Trading Commission (US)
This Seminar will initiate a reflection regarding the extent to which innovation within the Financial Technology (FinTech) sector can and should be regulated.
The case will be illustrated with examples of the UK and EU market (e.g. the Financial Conduct Authority (FCA)’s Project ‘Innovate’ and the European Commission’s Single European Payment Area (SEPA)) and the implications for innovation will be discussed.
This will be complemented by introducing an Asian perspective as to the capacity of specific jurisdictions to frame and catalyse innovation, focusing on specific challenges and opportunities in Mainland China and Hong Kong.
AML and KYC Compliance: Why is it so CrucialFinarm
Security is the key point of every business. Organizations employ all the best practices, preventing a data breach and financial fraud. These include KYC and AML.
Learn more about these services from our presentation!
Money Laundering and Its Fall-out - ROLE OF INFORMATION TECHNOLOGY IN ANTI M...Resurgent India
In an effort to detect potential money laundering schemes, financial institutions have deployed anti-money laundering (AML) detection solutions and enterprise-wide procedural programs.
APNIC Foundation, presented by Ellisha Heppner at the PNG DNS Forum 2024APNIC
Ellisha Heppner, Grant Management Lead, presented an update on APNIC Foundation to the PNG DNS Forum held from 6 to 10 May, 2024 in Port Moresby, Papua New Guinea.
# Internet Security: Safeguarding Your Digital World
In the contemporary digital age, the internet is a cornerstone of our daily lives. It connects us to vast amounts of information, provides platforms for communication, enables commerce, and offers endless entertainment. However, with these conveniences come significant security challenges. Internet security is essential to protect our digital identities, sensitive data, and overall online experience. This comprehensive guide explores the multifaceted world of internet security, providing insights into its importance, common threats, and effective strategies to safeguard your digital world.
## Understanding Internet Security
Internet security encompasses the measures and protocols used to protect information, devices, and networks from unauthorized access, attacks, and damage. It involves a wide range of practices designed to safeguard data confidentiality, integrity, and availability. Effective internet security is crucial for individuals, businesses, and governments alike, as cyber threats continue to evolve in complexity and scale.
### Key Components of Internet Security
1. **Confidentiality**: Ensuring that information is accessible only to those authorized to access it.
2. **Integrity**: Protecting information from being altered or tampered with by unauthorized parties.
3. **Availability**: Ensuring that authorized users have reliable access to information and resources when needed.
## Common Internet Security Threats
Cyber threats are numerous and constantly evolving. Understanding these threats is the first step in protecting against them. Some of the most common internet security threats include:
### Malware
Malware, or malicious software, is designed to harm, exploit, or otherwise compromise a device, network, or service. Common types of malware include:
- **Viruses**: Programs that attach themselves to legitimate software and replicate, spreading to other programs and files.
- **Worms**: Standalone malware that replicates itself to spread to other computers.
- **Trojan Horses**: Malicious software disguised as legitimate software.
- **Ransomware**: Malware that encrypts a user's files and demands a ransom for the decryption key.
- **Spyware**: Software that secretly monitors and collects user information.
### Phishing
Phishing is a social engineering attack that aims to steal sensitive information such as usernames, passwords, and credit card details. Attackers often masquerade as trusted entities in email or other communication channels, tricking victims into providing their information.
### Man-in-the-Middle (MitM) Attacks
MitM attacks occur when an attacker intercepts and potentially alters communication between two parties without their knowledge. This can lead to the unauthorized acquisition of sensitive information.
### Denial-of-Service (DoS) and Distributed Denial-of-Service (DDoS) Attacks
This 7-second Brain Wave Ritual Attracts Money To You.!nirahealhty
Discover the power of a simple 7-second brain wave ritual that can attract wealth and abundance into your life. By tapping into specific brain frequencies, this technique helps you manifest financial success effortlessly. Ready to transform your financial future? Try this powerful ritual and start attracting money today!
Multi-cluster Kubernetes Networking- Patterns, Projects and GuidelinesSanjeev Rampal
Talk presented at Kubernetes Community Day, New York, May 2024.
Technical summary of Multi-Cluster Kubernetes Networking architectures with focus on 4 key topics.
1) Key patterns for Multi-cluster architectures
2) Architectural comparison of several OSS/ CNCF projects to address these patterns
3) Evolution trends for the APIs of these projects
4) Some design recommendations & guidelines for adopting/ deploying these solutions.
1.Wireless Communication System_Wireless communication is a broad term that i...JeyaPerumal1
Wireless communication involves the transmission of information over a distance without the help of wires, cables or any other forms of electrical conductors.
Wireless communication is a broad term that incorporates all procedures and forms of connecting and communicating between two or more devices using a wireless signal through wireless communication technologies and devices.
Features of Wireless Communication
The evolution of wireless technology has brought many advancements with its effective features.
The transmitted distance can be anywhere between a few meters (for example, a television's remote control) and thousands of kilometers (for example, radio communication).
Wireless communication can be used for cellular telephony, wireless access to the internet, wireless home networking, and so on.
Bridging the Digital Gap Brad Spiegel Macon, GA Initiative.pptxBrad Spiegel Macon GA
Brad Spiegel Macon GA’s journey exemplifies the profound impact that one individual can have on their community. Through his unwavering dedication to digital inclusion, he’s not only bridging the gap in Macon but also setting an example for others to follow.
2. AML/CFT: Definition
“International effort to bring integrity to
financial systems, protecting them from
criminal abuse.”
• Anti-Money Laundering (AML) Combating the Financing
of Terrorism (CFT) standards set by the Financial
Access Task Force (FATF)
• System integrity is a key ingredient to overall market
stability and sustainability
3. AML/CFT: A barrier?
• Inappropriate implementation of
AML/CFT regulations can play a role in
excluding low income people from access
to formal financial services
• Main challenge is typically the Know Your
Customer (KYC) requirements
• But adherence to standards appropriately
applied can help create confidence and
sustainability in the system
4. AML/CFT: Regulators role
• Adopt laws that criminalize laundering
the proceeds of crime and the provision
of financial support to terrorists
• Provide clear instructions to entities,
including on KYC requirements
• Ensure appropriate oversight of financial
institutions – and other private sector
actors – during implementation
5. AML/CFT: Industry role
• Identify customers, verify identities using
reliable, independent source documents, data
or other information about the person
• Obtain information on the purpose and nature
of the financial relationship or transactions
• Maintain comprehensive records of customer
information and transactions
• Monitor customer transactions and alert
authorities to suspicious transactions
6. Policy Question:
Appropriate response
• How to tailor AML/CFT measures to the
domestic environment?
• Is it possible to take a service-based
approach rather than an institution-based
approach to regulate new offerings?
• How to ensure AML/CFT controls are
proportionate to the prevailing or likely
risks of crime?
7. Policy Question: Capacity
• How to create AML/CFT obligations that
match public and private institutional
abilities to meet, implement and
supervise?
• How to phase in AML/CFT controls over
time as capacity is built but in a way that
does not hinder market development?
8. Policy Question: Capacity
• Can KYC function be outsourced by
regulated institutions to other regulated
institution or to authorized 3rd party
agen, especially in areas with no bank
office?
9. KYC and mobile phone services
FATF and WB advise:
• International AML standards already address
mobile financial services vulnerabilities
• No need for new standards
• Offer great flexibility for low-risk transactions
They claim current regulations often do not:
• Address full spectrum of entities (MNO’s)
• Provide clarity on licensing process
• Take advantage of the flexibility available
10. Example: KYC in Philippines
• Regulators recognize any of
18 different documents as
acceptable forms of ID
• Philippines customers using
G-Cash must register via
their mobile phone or
internet. They cannot
withdraw or deposit until
they undergo face-to-face
Customer Due Diligence
(CDD) at an accredited shop,
partner or bank.
11. Example: Record Keeping
in Malaysia
• FATF recommends mobile
operators and other
payment system providers
keep CDRs similar to banks
• Maxis keeps records of
transactions for active
customers on an ongoing
basis. If the account is
terminated they archive the
info for seven years.
12. Example: Reporting obligations
Hong Kong and Macao
• MNO’s are considered
reporting entities under the
AML/CFT regime – same as
financial institutions
• MNO’s report suspicious
transactions to authorities,
including the channel used
and whether it was mobile
