Understanding Enhanced Due Diligence Processes
In the financial world, Enhanced Due Diligence (EDD) is a critical process. It’s a step beyond standard due diligence, providing a deeper level of scrutiny. EDD is essential in mitigating risks, especially in high-stakes transactions. It helps prevent financial crimes like money laundering and terrorist financing. But what does EDD entail? How is it different […]
3 Stages of Money Laundering
Money laundering is a sophisticated process where illicit funds are made to seem legal, concealing their criminal origin to avoid detection by authorities and infiltrate the legitimate financial system. This article explores the 3 fundamental stages of money laundering: placement, layering, and integration, providing an in-depth overview of each phase and discussing its implications for global financial […]
Top Features to Look for in AML Software: Everything You Need to Know
Anti-Money Laundering (AML) software is crucial for businesses aiming to prevent financial crimes and meet regulatory standards. This detailed guide will help you understand the key features to consider when choosing AML software, ensuring your business has the best defense against illicit financial activities. We will explain why each feature is important and how it […]
Reputational Risk in Financial Compliance
In the financial industry, reputation is everything. If you make even one mistake, it can cause a lot of problems. People won’t trust you anymore, customers won’t be as loyal, and your business will suffer. Financial compliance officers are like guardians at the gate. They have a big job of maintaining integrity and dealing with […]
Sanction Screening Quick Guide
In our increasingly interconnected global economy, organizations are constantly facing financial risks that can impact their operations and reputation. One such significant risk is engaging with individuals or entities under sanctions or other restrictions. This makes the practice of sanction screening a crucial business process in today’s world. Sanction screening is a strategy used by […]
Transaction Monitoring In a Nutshell
Transaction monitoring is an important aspect of compliance, as it helps financial institutions follow regulatory requirements and prevent illegal activities such as money laundering and terrorist financing. This article provides detailed information on transaction monitoring for banks and how it can be applied in your organization. What is Transaction Monitoring? Transaction monitoring is the process of monitoring […]
2022 – Year in Review
2022 was a year of growth and recognition for OMNIO. With the help of our new partners, Ocean Investments and Ivo Evgeniev, OMNIO was able to rapidly expand and solidify its position as a key RegTech player. The year was further highlighted by the recognition of OMNIO’s CEO, Stoyan Loznaov, by the Bulgarian Fintech […]
OMNIO Partners Up with Ocean Investments
We are excited to announce that we have partnered with Ocean Investments. As a strategic investor in OMNIO, Ocean Investments will support us throughout our path to rapid growth with financial resources and domain knowledge, business strategy, and the entire team of professionals and experts behind its back. About Ocean Investments Ocean Investments is a […]
5 Tips for Banks to Prevent Fraud Right Now
You’ve heard stories about how fraud affects real people through scams, identity theft, account takeover attacks, and other means. What can financial institutions do right now to protect their businesses and customers from fraud? 1. Keep Fraud Prevention Education Up to Date Banks can keep their customers’ education up to date. Make […]
How to Make BNPL Platforms More Secure for Merchants
Customers enjoy the buy now, pay later (BNPL) market because it allows them to make flexible payments. Merchants love BNPL because it allows them to increase their basket values by allowing them to sell more expensive or high-end products to more customers who are willing to pay over time. Consumers and merchants aren’t the only […]
