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Highlights:
Mitigate the surge in AI-generated digital forgeries by moving from document-based checks to source-verified payroll data Combat sophisticated salary staging and liar loans with an automated, single source of truth Establish digital trust at the point of contact to protect your organisation from credit and compliance risks.
AMP Bank has transformed its broker experience with a new origination platform that includes the automation of income verification. By integrating Equifax Verification Exchange - a direct-source data model that provides instant, digital access to verified income and employment data - AMP Bank has significantly reduced approval times and strengthened its defences against fraud.
The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms are crucial for protecting the financial system from illegal activities. This overview explains the key changes brought about by Tranche 2 detailing essential compliance mandates and effective risk management practices.
The pace of businesses engaged in construction activity employing more than 5 full time staff entering initial external administration has slowed in the financial year ended June 2024. This is in contrast to the businesses employing less than 5 full time staff which continue to report a higher number of initial external administrations, thus lifting the overall construction business failure levels to record highs.
iCIRT, the independent construction industry rating tool, is designed to provide an independent assessment of entities operating in the construction industry, having the capability, capacity and willingness to support the delivery of trustworthy built assets.
Cleansing your customer data of deceased records improves data integrity and helps businesses mitigate legal and financial risks. As the new year approaches, it’s an ideal time to cleanse your database and ensure it contains accurate and up-to-date customer information.
While PEP, sanctions and adverse media screening are vital for customer due diligence, false positives create unnecessary delays and frustration. These inaccurate matches waste time and resources, slowing down onboarding and impacting the customer experience.
So, how can you optimise your screening process and minimise false positives?
When it was announced in 2017 that the world’s most valuable resource is no longer oil but data, organisations were already leveraging data to manage credit risk, predict future trends, and unlock new revenue systems to drive business growth.
