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Regtank X Regulation Asia (Awards for Excellence 2022)
Regtank Awarded The RegTech Award – AML Risk Assessment in the Regulation Asia Awards for Excellence 2022 25th November 2022 | Singapore – Regtank Technology won the RegTech Award — AML Risk Assessment in the 5th Regulation Asia Awards for Excellence 2022; the awards recognize excellence by firms that have shaped the regulatory landscape in […]
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Guide to Web 3.0
Web 3.0 is the next stage of the internet that will redefine our everyday digital experience. How far and how quickly companies and users will adopt the technologies and their uses remains unknown. Looking into some uses and what makes up Web 3.0 can help companies to affiliate themselves with and get started. The […]
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Does Decentralised Finance Need Something More?
In 2019, the infamous Canadian cryptocurrency exchange – QuadrigaCX swindled more than USD 190 million from investors. This should have barred its co-founder, Michael Patryn, from being involved in the finance and crypto industry for the security of investors. Yet the decentralised finance (DeFi) platform has provided Michael Patryn with new opportunities, as it was […]
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The Future of RegTech: An Evolution
In 2021, Nelly Marion Evans Risco “The Nun” held 1 million USD worth of illicit funds in a Swiss bank account that was intended to fund terrorist activities carried out by The Shining Paths, a terrorist organisation that was responsible for approximately 60,000 deaths. Fortunately, Peruvian authorities were able to confiscate the assets before they […]
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The Unaccounted Price of Rising Online Fraud Cases
Technological advancement has brought convenience and countless other benefits to the lives of many, yet it has also increased the amount of potential risks that many individuals and businesses have to face. Cybercrime has risen to become one of the most reported forms of fraud, where it has incurred a hefty bill of USD 6 […]
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AML/CFT Screening Practices: How Regtank aligns with MAS
The recent release of the information paper from The Monetary Authority of Singapore (“MAS”) contains a thematic analysis of the performance of the various financial institutions (“FIs”) Anti-Money Laundering/Counter Financing of Terrorism (“AML/CFT”) name screening practices in 2021. Banks and financial companies primarily contributed to the insights gathered. Subsequently, from the analysis, those common gaps […]
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What is Know-Your-Transaction and Why is it Needed?
Compliance processes are continually enriched with new functions to combat varying emerging issues, further complicating the process. One fundamental pillar of the compliance process involves the Know-Your-Transaction (KYT) module. KYT is a methodology which provides organisations with critical analysis required to identify and reveal any suspicious fraudulent transactions conducted by customers or investors. This is […]
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1-2-3: Identify, Verify, Authenticate!
Could you imagine having to present your identification card to purchase a meal at McDonald’s? In Australia, patrons of the fast-food giant have to do precisely that because they are afraid of falling victim to fraud once again. This is for good reason, as McDonald’s was one of the primary victims in a skimming incident, […]
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Money Mulling and Ways to Protect Ourselves Against it
The COVID-19 pandemic has countless implications for everyone, regardless of where one lives in the world. In fact, one such consequence is the rise of criminal activities, such as money muling. During a short period which spanned from 15 September 2021 until 30 November 2021 only, Europol was able to identify 18,351 money mules and […]
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The Common Types of Cryptocurrency-related Frauds and How You Can Protect Your Business from Them
In recent years, the cryptocurrency market has received a lot of attention, driving cryptocurrency adoption up at an increasing pace. Global cryptocurrency adoption has increased by 880% over the previous year and an estimated more than 300 million individuals are using cryptocurrencies worldwide. However, as the public’s interest in cryptocurrencies grows, so does the number […]
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