Money laundering poses a significant threat to the integrity of the global financial system. To combat this illicit activity, financial institutions and businesses must implement robust Anti-Money Laundering (AML) measures. In this article, we will delve into the importance of AML checks, their significance in preventing money laundering, and how W2 can assist you in …
The Regtech industry in 2022 is growing rapidly. As regulation across payments, gambling, crypto, and Buy Now Pay Later continues to become more stringent, there is no surprise that we are seeing a boom in the interest in services which can satisfy the need to verify the identity of customers and prevent money laundering and …
Regtech Industry in 2022 & What’s Coming in the Future Read More »
When it comes to providing customers with a positive onboarding journey, I believe that automation is key. But in 2022, many regulated businesses are still looking to manual checking when onboarding customers and performing necessary checks to comply with various regulations. At W2, our core business model is to provide our customers with all of …
In our last blog, we discussed the recent trend for paying with cryptocurrencies, currently growing at around 30% per month. These payment instruments offer lower costs and much faster settlement compared with traditional cards and digital wallets. However, those very advantages – speed and immediacy – are proving a real headache for regulators looking to …
Ultimate Beneficial Ownership: The Next Compliance Challenge Read More »
W2, the leading provider of a broad range of identity services delivered through an API, into the Privacy Stack with Keepabl! Robert Baugh, Founder & CEO of Keepabl, says, ‘Digital ID is rapidly becoming the hot topic in Privacy. Not only did GDPR effectively bring age verification onto the statute books and increase awareness of data …
The UK has left the European Union, and as of 23:00 (GMT) on 31st December 2020, the transition period will come to an end. As it still not clear if a new trading agreement will be in place beforehand, W2 have taken steps to ensure that any risks associated with information and/or data sharing have been adequately addressed. Data transfer …
In any compliance program in any financial institution or corporation, everything must be pivoted on having strong controls. At risk of hefty fines, businesses need to understand what their sanction risks are, where there are risks and how are they managing those risks. However, keeping up with ever-changing Politically Exposed Persons (PEP) and Sanctions lists …
W2 fights compliance false positives with improved matching logic Read More »
W2, the leading provider of real-time digital solutions for global regulatory compliance, has secured a UK Cyber Essentials certification; the UK Government-backed scheme designed to protect organisations and their data against a wide range of cyberattacks. Alex Loane, W2’s Information Security Manager, said: “This certification marks another important milestone for W2’s information security program which …
The diversification of payment channels is transforming the way we use money. Technology has a big part to play in identifying patterns of criminal activity across millions, even billions of transactions in ways that manual processes simply cannot match. The U.K.’s data regulator, the Information Commissioner’s Office (ICO), has recently issued guidance to help organisations …
Businesses, regulators and enforcement agencies continue to work together to identify new money laundering and fraud threats, tackling them on a collective and global basis however meaningful and effective sharing of information remains elusive. Information sharing is viewed universally as the critical determinant of success and yet, privacy and data protection concerns prevail. Balancing these …
