Check out your Company Bowl for anonymous work chats.
https://bit.ly/3ezyABm • This week we begin with an article that describes the significantly evolving roles & tasks of data scientists as a result of new technology & additional changes. • Next, we have a piece explaining how changes by Apple to provide its users with greater choice over privacy settings have made zero-party data, new social platforms, blog interaction, & conventional marketing more useful. • Following that we have a story on data automation when integrated with the metaverse. • After that, we have a write-up discussing the unquestionable acceleration of ML/AI-based technologies by synthetic data as they continue to penetrate every industry and sector. • Next is a note on data in intelligent transportation & a real-world example of data-driven programs to reform parking fines and enforcement. • Finally, we have an essay about trustable data that comes from specific and trusted sources, its factors & how it is a strategic asset for the organization.
This week we highlight the case of Donville Innis, the Former Minister of Industry and Elected Member of Parliament of Barbados, who was sentenced for money laundering and conspiracy to commit money laundering. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates
The AML Penalties – Quarterly Update for Q3 2022 is out! • Q3, 2022 has been an active quarter for AML actions • Cumulative penalties of USD 2 billion across 647 events • The United States, United Kingdom, and India, continue to lead in the number of AML actions • AML actions involving Drug Trafficking represent almost 40% of all events Signup for free on www.amlpenalties.com to get more updates and insights.
Streaming data is the data that is produced continually by thousands of data sources, usually sending the data records in small batches. Modern businesses cannot function without data streaming, which provides real-time insight to inform decisions and enable the organisation to adapt to changing circumstances. According to ResearchAndMarkets.com, the global streaming analytics market is projected to grow from $15.4 billion in 2021 to $50.1 billion in 2026, at a CAGR of 26.5%. In this week’s Know Your Data {KYD}, we present you with a brief overview of streaming data.
This week's Subject Matter is about Beneficial Ownership Information Reporting, United States Of America . On 30 September 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA). New rules define the scope of information that certain legal entities are required to disclose under U.S. law. The rule addresses filing dates and mandatory information requirements, etc. New rules will take effect on January 01, 2024 Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
Over the previous few years, there have been major changes to the list of the world's wealthiest people. The richest individual in the world may change as business valuations increase and decrease and as people continue to donate money. We present the top 5 women billionaires & top 5 overall billionaires around the globe. We have also examined several traits of the billionaire population around the world, including age distribution, gender split, wealth source, wealth distribution, and philanthropic activities, and also emphasized how these traits vary among the top five billionaire primary industries based on the Billionaire Census published by Altrata. Banking and finance sector is the main industry focus for the largest share of billionaires. This stake is twice as great as the industrial conglomerates' second-ranked sector. This week’s OSIN {One Story In Numbers} represents the world’s top 5 wealthiest women with their net worth (in billion, as of 04 Aug 22).
This fortnight we have 8 regulatory documents from 4 jurisdictions, mainly applicable to financial institutions. Notable regulations of the fortnight include the Beneficial Ownership Information Reporting, United States of America; Proceeds Of Crime Act 2002, Australia; Sanctions Compliance Guidance For Instant Payment Systems, United States of America; FINRA: Sanction Guidelines, United States of America; and Source Of Funds And Source Of Wealth Guidelines, Australia. Additionally, the Monetary Authority of Singapore (MAS) issued the National Strategy for Countering the Financing of Terrorism (CFT), the European Securities & Markets Authority (ESMA) has published a report on Crypto-Assets and their risks for financial stability; and a report on Bullion Dealers Risk Assessment has been released by the Australian Transaction Reports and Analysis Centre (AUSTRAC). Click here https://bit.ly/3VgI59c to read in detail about the recent regulatory updates.
This week we have 12 AML events involving 33 individuals and 01 entity, resulting in a total of USD 13.4 Mn in penalties with incarcerations of 1,352 months. Notable events of the week include a fine imposed on Finance Incorporated Ltd by the Financial Intelligence Analysis Unit, Malta, for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations. Next is a fine of USD 2.7 Mn, 25 months’ imprisonment with 24 months of supervised release on Robert Goforth, by the U.S. Department of Justice, for money laundering & healthcare fraud. Finally, Ex-Barbados Official Donville Innis lost his appeal to reverse the conviction to the U.S. District Court of Eastern District of New York, was sentenced to 24 months, and fined USD 0.03 Mn for money laundering. Finally, regarding regulatory updates, The AUSTRAC has published guidance on the Source of Funds and Wealth. Also, Singapore formulated the National Strategy for Countering the Financing of Terrorism. Click https://bit.ly/3s1Yn8F to read in detail about the week's top AML events, news, and regulatory updates.
• This week we begin with an article that describes the change in the data culture in past few decades & three keys to build a successful data culture. • Next, we have a piece describing that advanced data collection methods like web scraping has enhanced the volume of data and data acquisition has been enhanced with the presence of increased accessibility of data as a service (DaaS) businesses and solutions. • Following that we have a story on how we could store digital data inside strands of DNA that has exploded over the past decade and offers an incredibly compact, durable and long-lasting form of storage. • After that, we have a note explaining the significant growth opportunities provided through cloud computing in fintechs. • Next is a guide to understand different sets of data modeling that helps in understanding systems, structures, formats and handling functions of the data and how it aids in comprehension of the complexity of a data system. • Finally, we have a write-up explaining that a business should carefully consider its need for cloud databases and analytics solution
This week we highlight the case of Asim Ghafoor, the co-founder and board member of DAWN (Democracy for the Arab World Now), who was sentenced for tax evasion and money laundering. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates
