Crime Due Diligence Technology Risk 
PYMNTS
JUNE 17, 2020
According to a report in ZDNet , Westpac said that “a mix of technology and human error” and “deficient financial crime processes” were behind the financial institution’s (FI’s) lack of compliance with anti-money laundering (AML) regulations. Crime, At Scale. Australian bank Westpac Banking Corp. may stand as Exhibit A here.
PYMNTS
NOVEMBER 30, 2017
First, there’s the Capture product, which optimizes the due diligence portion of the onboarding process, Lam explained. Second, there are the risk management technologies, including the cyberspace crawler that automatically reads and analyzes social posts about the merchant.
Fintech News
JANUARY 24, 2024
The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring.
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