In this content, we will explain money laundering in 5 questions. You can find all the basic information you need to know about money laundering with this content.
KYC in banking is to ensure that its customers, agents, consultants are anti-bribery. Banks, insurers, export creditors and other financial institutions are increasingly demanding that customers provide detailed due diligence information.
Financial crimes can increase with coronavirus. When we examine the reports on attacks such as money laundering, counterfeiting and phishing, these crime transactions have increased recently by using communication methods on coronavirus.
Institutions and regulators aim to work to take effective steps in combating financial crimes. Regulators have been guiding the organizations' fight against financial crime with the regulations and recommendations they have published since the past.
Financial Technologies (Fintechs) continues to change habits with its easy, fast and competitively priced solutions. With Fintechs, we witness how technologies that facilitate human life have grown and adopted.
Sanctions are restrictions imposed by governments or organizations to prevent high-risk people from engaging in suspicious and illegal activities. Governments or organizations publish these sanction decisions publicly on the sanction lists.
Politically Exposed Persons are high-risk customers for financial institutions due to the risks of corruption, money laundering and bribery.