The Financial Action Task Force (FATF) held its February 2025 Plenary from the 19th to the 21st in Paris, marking a critical moment in the global fight against money laundering, terrorist financing, and other financial crimes. Under the leadership of FATF President Elisa de Anda Madrazo of Mexico, representatives from over 200 jurisdictions and international…
Understanding the Sixth Anti-Money Laundering Directive (6AMLD) The European Union (EU) has been at the forefront of the global fight against money laundering and terrorist financing. Over the years, it has developed a robust regulatory framework to address the evolving challenges posed by financial crime. The Sixth Anti-Money Laundering Directive (6AMLD), which came into force…
An effective Anti-Money Laundering (AML) program is essential for ensuring financial transparency, preventing illicit activities, and maintaining the integrity of global financial systems. As financial crimes evolve and become increasingly complex, AML practices must remain adaptive, innovative, and resilient. This article outlines key tactics for building and maintaining an effective AML program that addresses contemporary…
With the continuous growth of e-commerce, fraud has become an ever-present threat. E-commerce platforms handle vast volumes of transactions daily, and as digital fraud techniques become more sophisticated, it’s crucial for online businesses to stay proactive about protecting their assets and customer data. This article explores various strategies and best practices to help e-commerce businesses…
KRUK Romania, the leader in debt management, consistently striving to enhance and streamline their processes, proactively aligning with all legal and regulatory requirements. Motivated by maintaining compliance at the heist level through a proactive approach in adopting automation to enhance efficiency, KRUK embarked on a quarterly portfolio scanning project, using the dMonitor platform. This decision…
Financial Crime, often referred to as FinCrime, has emerged as a significant threat to global economies. As financial systems become increasingly interconnected and digitized, the opportunities for criminal activities have expanded. From money laundering to cyber fraud, FinCrime not only jeopardizes the integrity of financial institutions but also poses risks to national security and the…
Know Your Customer (KYC) and Customer Due Diligence (CDD) are cornerstones of regulatory compliance, particularly in financial institutions. Designed to prevent financial crimes such as money laundering, terrorism financing, and fraud, these processes require organizations to verify the identities of their customers and assess the risk of engaging in business relationships with them. However, the…
Mokka is a financing service operating in Romania, specializing in providing flexible payment solutions for online and offline shopping. Through the Mokka platform, customers can purchase products and services from various partner stores, with the option to pay in interest-free installments over a predetermined period. Mokka aims to simplify the purchase process, offering a convenient…
Social engineering fraud is a sophisticated and manipulative tactic used by cybercriminals to deceive individuals and organizations into divulging confidential information or performing actions that compromise security. Unlike traditional hacking methods that exploit technical vulnerabilities, social engineering relies on human psychology and trust manipulation. This article explores the various types of social engineering fraud, how…
In today’s business landscape, employee fraud stands as a significant threat to organizations of all sizes. Defined as any deceptive act committed by an employee intended to result in personal gain, employee fraud can take many forms, including embezzlement, theft, insider trading, and falsification of documents. Understanding and mitigating this risk is crucial for maintaining…
