Palturai BusinessGraph quickly identifies UBOs in convoluted organizational structures BSA, AML, 4MLD, EU Directives, FinCEN. Global regulations necessarily expand as cybercrime, drug trafficking and terrorism grow internationally – and the importance of due diligence increases exponentially for financial institutions. Understanding complex corporate hierarchies and identifying ultimate beneficial owners (UBOs) is fundamental for financial institutions to…
Marijuana is legal in many countries. However, financial institutions still encounter risk associated with marijuana related businesses (MRBs). The primary risk is potential for inadvertently permitting money laundering activities resulting in fines and reputational damage. But the risk MRBs pose to your financial institution blends into other lines of business as well. In addition to…
The economy is a huge interconnected network — but data on business partners and corporate customers often exists in isolation. Many connections to individuals, other companies and decision makers are unknown. As a result banks miss potential efficiencies in resource use, especially during compliance audits. Despite investing billions in digitization, banks often still treat their…
Defendants from the Hells Angels, gold deals, missing millions, and rockers. If it sounds like a mystery, it is. After a Hamburg tax investigation, four men were arrested and accused of tax evasion valued at 27 million euros. Spiegel researched and presented their sophisticated business model in a video and explained the suspected VAT fraud.…