With over 4000 leaked SARS that were involved with 2000 banks, turns out most of the SARs were related to cross border activity, a well-known “blind spot” in the banking world. Over the past several years, large schemes revealed the financial systems failure- with billions of dollars [...]
Global economy is facing real challenges with cross border payments, Financial Institutions lost trust in their counter-parties and their AML controls, De-risking and slow business are no longer needed-with ThetaRay financial institutions can gain trust back and support growth with [...]
Across the globe, the C-suite of financial institution fear the unknown. In fact, most of us fear the unknown but FI executives can get into serious regulatory, legal, financial and reputational hot water – especially with unknown unknowns. What do I mean by that? In simplest terms, an unknown [...]
I think you all know that correspondent banks are required to meet specific regulatory obligations while maintaining their correspondent relationships, as well as meet general compliance obligations to report suspicious activity, prevent money laundering, and comply with economic sanctions. A [...]
My banker told me that, in theory, managing his relationship with regulators and respondent banks is straightforward. Then he paused and said, “Actually, about as straightforward as explaining quantum physics to a five-year old.” And he’s right. Both understanding quantum physics and [...]