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RegTech: Systems of Insight to Guide Anti-Money Laundering (AML

On the same day that the prosecution rested its case against Paul Manafort, the U.S. Attorney’s office in Tucson, AZ got a seven-year sentence against a fraudster for a money-laundering scheme; a former Microsoft employee was sentenced to 18 months after pleading guilty to conspiracy to commit money laundering; a messy FBI sting involving money laundering came to light; and a report from the Financial Task Force (FATF) that looks at the techniques and tools used by professional money launders (PMLs) unveiled numerous new dangers.

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Topics: fintech, regtech, regulation, money laundering, mathematical models, risk management, financial risk

Fintech in 2017: Risk management takes center stage

A day in the life of the gentleman banker was once described by the 3-6-3 rule – accept deposits at three percent, loan money at six percent and tee off at the golf course at 3 p.m. The financial services industry can rightfully state that it has come a long way since then. It has implemented technological innovation and managed risk in a constantly changing economic environment over several decades. The gentleman banker has since evolved into a sophisticated financial risk manager who works within a complex framework of rules and regulations with tens of trillions of dollars of assets under management. 

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Topics: big data, banking, AML, fintech, regtech, regulation, machine learning, money laundering, risk management

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