by gegwp1 | Oct 8, 2024 | Financial Consulting, Industry News
According to an article in the February 5th, 2024, Financial Times, an Iranian state-owned oil company, Petrochemical Commercial Company Iran (PCC), used UK-registered front companies to evade US sanctions and hold active accounts at Santander UK and Lloyds. Leaked...
by gegwp1 | Oct 8, 2024 | Financial Consulting, Industry News
The recent controversy around Google’s image generation where it is accused of engineering its Gemini AI application to produce “woke” images intentionally highlights a concept in AI development known as Prompt Transformation. Most users interact with AI Large...
by gegwp1 | Oct 8, 2024 | Financial Consulting, Industry News
The buzz around Gen AI has reached a fever pitch. At the recent WEF conference in Davos, it was all anyone wanted to discuss. Sorry ESG. Sorry Crypto. As my daughter would say – “you are so last semester!” Forecasts predict that workers will lose all sorts of...
by gegwp1 | Oct 8, 2024 | Financial Consulting
The world is moving to real-time or near-real-time payments. The G20 established a Roadmap for enhancing cross-border payments in November of 2020. The roadmap aims to reduce costs and increase cross-border payments’ speed, access, and transparency. The speed target...
by gegwp1 | Oct 8, 2024 | Financial Consulting, Industry News
In a recent interview, Donna Achimov – the Chief Compliance Officer and Deputy Director of Canada’s FINTRAC financial intelligence unit – highlighted how they increasingly use artificial intelligence to monitor bank activity for suspected money laundering and...
by gegwp1 | Oct 8, 2024 | Financial Consulting
Financial institutions have multiple obligations to surveil the activity and behavior of their clients, counterparties, and associates. The scope of these obligations is growing as a higher percentage of client interactions are digitized, creating the expectation by...
