Articles
Articles

Fewer Alerts, Fewer Fines, More Compliant

Prevent fines and reduce workload by applying an alert shaping process. Rising Expectations Regulatory fines in the financial industry spark an action-reaction process. A financial institution – most commonly banks – receive a fine for not upholding regulatory compliance, then suddenly financial institutions everywhere raise the budget for their compliance department, or at least begin […]

Blog
Blog

German Sparkassen: At Risk for Money Laundering?

BaFin, the German Financial Intelligence Unit, responsible for supervising the banking industry in Germany, has come under a lot of scrutiny lately. A devastating article in the Wall Street Journal points out that the watchdog ignored warnings about Wirecard, the fintech company accused of financial wrongdoings, for ten years. Germany’s biggest banks, Deutsche Bank and […]