Technology is taking the lead in the world of KYC compliance and onboarding clients, safely, is and will remain a challenge.
What are the tools criminal use to fabricate an online persona? How do we make sure we are onboarding a real person when we ask for a selfie?
Vanessa Williams is the Global Chief Compliance Officer and AML/CFT Officer of CrossTower, a digital asset capital markets firm with offices in Bermuda, the US, and India. In today‘s episode, Vanessa touches on the most pressuring challenges when onboarding clients and how technology is creating benefits as well as new risks to prevent money laundering and other forms of financial crime.
Topics discussed in this episode:
- Digital finance, cryptocurrencies and money laundering.
- KYC compliance challenges in a mobile world.
- How criminals have developed tools to fabricate an online persona.
- The role of regulators and the difference between jurisdictions.
- Why institutions are being fined in spite of colossal investments in financial and regulatory technology
- What financial crime prevention will look like in the next few years.
- The benefits of the blockchain to follow assets
- How automation can help to mitigate risks and put focus on the most important alert
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