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https://bit.ly/3fEYDrm This week we begin with an article about the metagenomic universe created by the AI of Meta to find proteins in samples from many places on Earth and even in our bodies using gene sequencing. Next, we have a piece on the adoption of open banking in several regions, which will link the financial and technological ecologies and allow customers to fully own and profit from their data streams. Following that, we have the new European Union-U.S. Data Privacy Framework that has re-established clear data sharing rules between the two entities, providing businesses that handle EU personal data with legal security. After that, we have a story on why businesses should no longer delegate control of their data to IT if they hope to succeed in this new data-driven environment. Next is a write-up that addresses data quality issues as organizations delve into AI. Finally, we have an essay about how to avoid database development slowing down releases and to introduce a policy-driven approach to data management by adopting database management by adopting database DevOps.
This week we highlight the case of Edmund Wan a.k.a Giggs, an Internet Radio Host, Hong Kong, who was sentenced for money laundering and sedition. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
The process of combining data from diverse internal and external sources to provide combined data insights is known as data collaboration. Data collaboration eliminates the need to design sophisticated solutions or create APIs in applications to make the data completely available. Secure data collaboration has considerable value for businesses through sharing data between business partners, as it can help businesses to develop, but this also exposes them to significant risks, including data leakage and loss of control. A comprehensive & modern data strategy requires data collaboration because of the evolving regulations & rules that make businesses privacy-conscious. As per The Business Research Company's "Collaboration Software Global Market Report 2022”, the collaboration software market size is predicted to reach a value of $12.5 billion in 2021 to $13.03 billion in 2022 at a CAGR of 4.30%. In this week’s Know Your Data {KYD}, we present you with a brief overview of data collaboration.
The Institute for Economics & Peace (IEP) has released the third edition of the Ecological Threat Report (ETR), which examines ecological concerns in 228 autonomous states and territories. The key conclusion from the 2022 ETR is that existing levels of ecological degradation would significantly increase without coordinated international action, exacerbating several societal concerns like malnutrition, forced migration, and sickness. 27 "hotspot" nations are under severe ecological damage and have extremely low societal resilience. There are 768 million people that live in these nations. By 2050, the 40 nations with the lowest levels of peace are expected to have an additional 1.3 billion people or 49.5% of the world's population. This week’s OSIN {One Story In Numbers} represents the average ecological threat report (ETR) score by region, 2022.
This week's Subject Matter is about the Geographic Targeting Order (GTO) by the FinCEN. On 26 October 2022, the Financial Crimes Enforcement Network (FinCEN) renewed and expanded the Geographic Targeting Orders (GTOs) to further assist in tracking illicit funds and activities to identify and report the ultimate beneficial owners behind legal entities making certain all-cash real estate purchases. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
This week we have 13 AML events involving 24 individuals and 02 entities, resulting in a total of USD 24.9 Mn in penalties with incarcerations of 782 months. Notable events of the week include a USD 2.1 Mn fine and 108 months sentencing imposed on Hassan A Abbas, by the U.S. District Court of District of Massachusetts, for money laundering. Next is a 115-month imprisonment sentence on Osvaldo Villegas Rivera, by the U.S. Department of Justice, for money laundering. Finally, Dontae Lamont Hunt, was convicted at the U.S. District Court of the Central District of California for money laundering. Finally, regarding regulatory updates, The MAS published 2 consultation papers proposing regulatory measures to reduce the risk of consumer harm from cryptocurrency trading. Also, the AUSTAC has released a financial crime guide to help financial service providers identify and report suspicious transactions on criminals engaging in trade-based money laundering. Click here https://bit.ly/3ztfUKI to read in detail about the week's top AML events, news, and regulatory updates.
https://bit.ly/3sMwz8k This week we begin with a plan presented by China's State Council to create a National Integrated Government Affairs Big Data System by the year 2025, which is projected to make millions of government data sets accessible from a single location. Next, we have a piece sharing interesting updates by Google which will help data engineers a lot. Following that, we have an article describing the role of the digital financial twin in making significant breakthroughs for assisting with the resolution of various financial management & KPI-related problems. After that, we have a write-up explaining database virtualization as a powerful catalyst for IT since it accelerates database migration, optimizes workloads & consolidates database stacks. Next is a story about bogus text messages pretending to be from Amazon that steal personal information. Finally, we have an essay about how data-driven approaches can make software engineers more productive & helps an organization in using data to refine operations and deliver more efficient results.
Credit Suisse, a global investment bank and financial services firm, facilitated cross-border private-banking criminal activity concerning tax fraud and money laundering. Credit Suisse agrees to pay USD 232 Mn penalty to the Parquet National Financier (PNF) for the probe settlement. To read more about this case, please click - https://app.amlpenalties.com/event/EVF4B602540FF5
This week we highlight the case of William Sadleir, the former chairman and CEO of Aviron Pictures, United States of America, who was sentenced for money laundering and bank fraud. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates
Data augmentation is a method for producing modified data from the existing set to artificially increase the size of a training set. By incorporating information from both internal and external sources within a business, data augmentation enhances the value of raw data. Machine learning is strengthened by data augmentation by adding variances to the model. Enterprises can respond to problems more quickly, find chances to enhance customer experience, and introduce new products thanks to improved control and data augmentation through enrichment and correlation. In this week’s Know Your Data {KYD}, we present you with a brief overview of data augmentation.
