Moody’s Talks: KYC Decoded

In our pKYC series we have explored the concept of pKYC and the technologies behind it, but what is it like operationally to practice this modern process and yield positive outcomes? In this final installment of the pKYC series, Jessica Cath, Head of Financial Crime Project Delivery at FINTRAIL, discusses her unique experiences and perspectives as an active practitioner in compliance to answer this question.Visit the Moody’s Analytics KYC website for more information on how to implement pKYC in your organization.And visit FINTRAIL’s website for even more resources:FINTRAIL Insights Page

A large difference between traditional KYC and Perpetual KYC is the technological advancements that enhance the process to make it more efficient. In the second part of our pKYC series, Alex Pillow speaks with Delphine Masquelier, KYC Solution Manager at Quantexa, Alex Richter, Head of Customer Lifecycle Management at PassFort, and Henry Irish, Manager of Technology Strategy at Moody’s Analytics. Their discussion takes a closer look at the technologies needed for a successful Perpetual KYC program.Visit the Moody’s Analytics KYC website for more information on how to implement pKYC in your organization.And visit Quantexa’s website for even more pKYC resources:Continuous KYC: A data-led approach that helps you find real risks in real timeMoving to Continuous KYC Monitoring to Reduce Risk & Improve Compliance

Are the traditional methods of periodic review things of the past? A new approach called Perpetual KYC (pKYC), offers solutions to optimize the conventional process and make it more time efficient and less expensive, providing real-time risk mitigation. In the first part of our Perpetual KYC series, host Alex Pillow is joined by Chor Teh, Moody’s Analytics Financial Crime Compliance Industry Practice Lead, to explore the definition, understanding, and implementation of Perpetual KYC.Visit the Moody’s Analytics KYC website for more information on how to implement pKYC in your organization.For additional resources, check out:PassFort Lifecycle WebsiteWolfsberg Group Guidance on Digital Customer Lifecycle Risk ManagementFATF Opportunities and Challenges of New Technologies for AML/CFT

It is noble and important work when compliance professionals spend their days behind an office desk using sophisticated tools and processes to prevent financial crime. However, there’s another compelling story to be told about the difference one can make away from the office, deep within the trenches. This episode welcomes undercover agent and author, Robert Mazur, who has worked side-by-side with some of the world’s most notorious money launderers and drug traffickers. Be sure to grab your copy of Mazur’s latest book, The Betrayal, and listen along as he shares his experiences and the inspiration behind his work.For more information, please check out the following resources mentioned in this episode:Robert Mazur’s general websiteThe Betrayal and The Infiltrator booksSubscribe to Robert Mazur’s PODCASTS+

Crypto may provide bad actors with yet another channel to launder funds, but could it also provide a unique set of opportunities for KYC and AML professionals to revolutionize their practices and manage risks in new ways? The third and final installment of our Crypto Series welcomes Niels Pedersen, Senior Lecturer of FinTech at The Manchester Metropolitan University, and Laurence Twelvetrees, a multiple time MLRO at crypto-focused businesses.Key discussion points in this episode include:Individual privacy verses blockchain transparencyGlobal financial inclusionDecentralized financeTo learn more about the resources shared in this episode, please check out the following:Thinking in Systems: A Primer by Donella H. MeadowsCoinMarketCapEllipticFinancial Technologies: Case Studies in FinTech Innovation by Niels PedersenTo find out how Moody’s Analytics KYC solutions can help your organization harness the power of crypto with confidence, please get in touch.

Outsmarting criminals preying in the crypto space - no one said it was easy. How can KYC and AML systems work with law enforcement to tackle these opponents? Our crypto series continues with part two taking a deep dive into risk mitigation and law enforcement focused on crypto. In this episode, host Alex Pillow is joined by Craig Gleeson, Senior Office for the Crypto assets Money Laundering, Bribery & Corruption Threat Team for the UK’s National Economic Crime Centre in the NCA, and Tom Robinson, co-founder and Chief Scientist at blockchain analytics company, Elliptic.For further reading, check out the resources below:Wired ArticleFCA websiteNational Strategic Assessment of Serious and Organised CrimeEliptic.coTo find out how Moody’s Analytics KYC solutions can help your organization harness the power of crypto with confidence, please get in touch.

Like it or not, some of your global customers are likely to be engaging with cryptocurrency. Flashy media headlines highlighting the scandals related to the crypto space often create feelings of fear, anxiety, and confusion, which can muddle our understanding of the real risks associated with crypto. In the first episode of our 3-part cryptocurrency series, special guests Yana Afanasieva, Founder & CEO of Competitive Compliance and host of the podcast Compliance that Makes Sense, and Pierce Kearns, Financial Crime Consultant and cryptocurrency enthusiast, provide their takes on the perceived versus real risks related to crypto as well as the responsibility KYC professionals have to understand them.For more cryptocurrency learning, here is a great resource:Free compliance downloads and templatesTo distinguish digital asset opportunities from cryptocurrency risks in your compliance practices, please get in touch.

How do Financial Institutions determine the right RegTech vendors for them? And how do RegTech providers establish a reputation that is built on trust?The RegTech industry poses unique challenges for buyers and sellers alike. In this special bonus episode, host Alex Pillow and guest Matt Neill, Managing Director and Co-founder of Beyond, take a closer look at Beyond’s recently published guide, Leveraging RegTech in Financial Crime Compliance Programmes.This thought-provoking conversation weaves through the processes and systems needed by both vendors and Financial Institutions to yield successful outcomes.Download the report, and get in touch to find out how Moody’s Analytics KYC can support your institution’s RegTech requirements.

In a world where computer hacking has become increasingly more sophisticated, how does an organization ensure it does not find itself the next victim of a financial cybercrime attack? In this episode of Moody’s Talks: KYC Decoded, leading investigative journalist and author of the recently published book The Lazarus Heist, Geoff White, breaks down the events of the 2016 Bangladesh bank heist, commonly attributed to North Korea’s cyber unit, the Lazarus Group. Listen along for a riveting account of money laundering fueled by cybercrime, the devastating consequences such crimes can bring about for victims, and the systems and controls needed to combat it. For additional resources, make sure to check out:The Lazarus Hei$t BBC podcast seriesGeoff White’s 2020 book, Crime Dot Com: From Viruses to Vote Rigging, How Hacking Went GlobalCountdown to Zero Day: Stuxnet and the Launch of the World’s First Digital Weapon by Kim ZetterTo learn how to prevent financial crime in your organization, please visit kyc.moodys.io.

Could crypto actually be enabling sanctions evasion, or is this just grabbing headlines?In the final discussion of our Sanctions Miniseries, David Carlisle, VP of Policy and Regulatory affairs at blockchain and analytics company Elliptic, weighs up the validity of this question.Learn more about how you can adapt to an evolving sanctions environment by visiting our website. And visit Elliptic’s website for more sanctions evasion resources:Guide to sanctions compliance in cryptocurrenciesPreventing Financial Crime in Cryptoassets: Typologies Report 2022Reach out to us via podcasts@moodys.com to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes.