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2019 MONEVAL report on Cyprus

A recent report on Cyprus by MONEYVAL (the Council of Europe’s anti-money laundering body) asked for more aggressive procedures on tackling AML/CFT. It concluded that Cyprus understands the money laundering and terrorist financing risks that it faces to a large extent, albeit the understanding of terrorist financing risk is less comprehensive. MONEYVAL noted that major improvements are necessary, on various aspects, for the effectiveness of the Cypriot AML/CFT regime.

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The true cost of fraud in a digital environment

According to a 2019 LexisNexis cost of fraud study, whether you’re a massive institution or a small firm, you’re experiencing the effects of fraud. It affects all parts of the industry, and is increasing sharply everywhere.

Every sector is experiencing fraud differently. As you might expect, due to the large volume of transactions processed, mid/large banks continue to report the most fraud attempts (2,278 per month), with mid/large lending firms not faring much better (1,565 attempts per month).

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ICA'S INAUGURAL MENA REGULATORY AND FINANCIAL CRIME COMPLIANCE CONFERENCE

ICA'S INAUGURAL MENA REGULATORY AND FINANCIAL CRIME COMPLIANCE CONFERENCE - #BIGCOMPCONVO2020

Dubai, UAE: The Infocredit Group is delighted to announce its sponsorship of the ICA Inaugural MENA Regulatory and Financial Crime Compliance Conference, 1-2 March 2020, Fairmont Hotel, Dubai. This sponsorship will allow the Infocredit Group and ICG MECOS – as a part of it - to play a key part in the big compliance conversation.

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