by Radhika Lipton | Nov 10, 2022 | RADD BUZZ
Enhanced Due Diligence (EDD) is a risk-based approach to KYC procedures. It was developed in response to the increasingly complex financial crime environment. Banks have always been required to know their customers before providing them with banking services, but... 
by Radhika Lipton | Oct 17, 2022 | RADD BUZZ
Internal audit departments have been a core component of financial institutions for decades. However, with the rise of regulatory scrutiny and the complex risk landscape of financial institutions, having an in-house team is not always feasible. In today’s... 
by Radhika Lipton | Oct 4, 2022 | RADD BUZZ
Doing a BSA/AML risk assessment is a significant step in complying with anti-money laundering regulations. In this post, we’ll give you an overview of the risk assessment process for FIs. You’ll also understand the steps in completing a comprehensive... 
by Radhika Lipton | Sep 23, 2022 | RADD BUZZ
Regulatory change is an ongoing part of financial institutions (FIs) life. For one, the industry is one of the most highly regulated in the world. According to a 2020 report by Thomson Reuters Regulatory Intelligence, a typical financial services organization is... 
by Radhika Lipton | Sep 14, 2022 | RADD BUZZ
As the financial services industry evolves, financial institutions (FIs) increasingly turn to fintech to meet their needs. For one thing, fintech offers innovative solutions that help FIs deliver new capabilities, respond to changing customer expectations, increase... 
by Radhika Lipton | Aug 28, 2022 | RADD BUZZ
All over the world, there are stringent laws that require banks to implement measures against money laundering. In the US, banks implement these measures through the Bank Secrecy Act(BSA)/Anti-Money Laundering Act (AML). Since its enforcement in the 1970s, the BSA/AML...
