Check out your Company Bowl for anonymous work chats.
The concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders and invoices is known as electronic data interchange (EDI). It involves more than just sending and receiving data. EDI systems enable the transfer of information quickly. Error rates have been decreased because manual data entry is not required. Using EDI, businesses can automate the transfer of data among software programs throughout a supply chain. According to The Insight Partners, the electronic data interchange (EDI) market was valued at $24.64 billion in 2019 and is projected to reach $ 49.21 billion by 2027, growing at a CAGR of 9.5%. In this week’s Know Your Data {KYD}, we present you with a brief overview of electronic data interchange.
This week's Subject Matter is about the Guidelines On Fighting Money Laundering And Terrorist Financing For The European Online Gambling Sector, EGBA. The European Gaming and Betting Association (EGBA) published a draft of pan-European, self-regulatory guidelines to help iGaming companies comply with EU, national, and supranational anti-money laundering (AML) laws. It will be necessary for EGBA members to provide yearly reports that summarize their efforts to put the suggestions into action. The EGBA requests feedback from interested parties via email by October 13, 2022. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
The Billionaire Census published by Altrata examines the status of the world's billionaires. Every level of society and all wealth tiers may see the unequal distribution of global wealth, but the disparity is most glaring when looking at the world's super-rich. Even though there were only 3,311 billionaires in the world in 2021, they controlled a disproportionate 27.4% of the world's ultra high net worth (UNHW) class, which includes people with a net worth of at least $30 million. Just over three-quarters of the world's billionaires live in the top 15 nations, which also account for 81% of all billionaire wealth. Except for China and Germany, New York boasts more billionaires than nearly any other country in the world. This week’s OSIN {One Story In Numbers} represents the billionaire population & wealth for all the seven regions.
Happy Dussehra to everyone, their families, and loved ones! A moment to celebrate the triumph of good over evil and to be motivated by the exemplary power of good.
This week we have 33 AML events involving 16 individuals and 23 entities, resulting in a total of USD 1.11 Bn penalties with incarcerations of 867 months. Notable events of the week include a fine imposed on Goldman Sachs by the Securities and Exchange Commission for violation of recordkeeping provisions of the federal securities laws. Next is a fine of USD 3.08 Mn on Petfre (Gibraltar) Limited (Betfred), by the U.K. Gambling Commission, for social responsibility & AML failures. Finally, Raghavender Reddy Budamala was sentenced to 48 months and fined USD 9.2 Mn for money laundering and bank fraud. Finally, regarding regulatory updates, The FINRA has published the Sanction Guidelines afor use by various bodies adjudicating disciplinary decisions related to the Sanctions. Also, The AUSTRAC has released 03 new risk assessments to help remittance service providers and bullion dealers understand the money laundering and terrorism financing threats and vulnerabilities. Click here https://bit.ly/3V8w9X4 to read in detail about the week's top AML events, news, and regulatory updates.
https://bit.ly/3e7rDHr • This week we begin with an article that includes best practices for any data leader or expert who wants to learn how to maximize the quality of the data in the data warehouses of their organization. • Next, we have a story on the deadly malware, Erbium, that is quickly spreading and targeting passwords, credit cards, cookies, cryptocurrency wallets, and other personal data. • Following that we have a piece highlighting the magnitude of the dark data situation where unused dark data is stored on servers and limits the contribution of organizations towards the digital decarbonization movement for realizing net-zero targets. Global data centers have a greater carbon footprint than the aviation industry. • After that, we have a note explaining the importance of data quality in data governance and why data management is greatly challenged by a lack of visibility and compounded by data quality issues. • Next is a report on East Africa Macroeconomic Outlook by Deloitte, the loss in FDI inflows in the region owing to low-quality financial data while conducting due d
This week we highlight the case of Mitzi L. Bickers, the former Director of the Office of Human Services, Atlanta, Georgia, United States, who was sentenced for conspiracy to commit bribery, wire fraud, money laundering, and filing a false tax return. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
Data quality indicates how reliable a given dataset is. The data’s quality will affect the user’s ability to make accurate decisions regarding the subject of their study. High-quality data is collected and analyzed using a strict set of guidelines that ensure consistency and accuracy. To ensure high-quality data is collected, participants should agree on data quality standards such as validity, format, timeframe, and competence. According to Verified Market Research, data quality tools market size was valued at $932.8 Million in 2020 and is projected to reach $3,673.2 Million by 2028, growing at a CAGR of 18.2% from 2021 to 2028. In this week’s Know Your Data {KYD}, we present to you a brief overview of data quality.
This week's Subject Matter is about the Economic Crime and Corporate Transparency Bill, United Kingdom On 22 September 2022, the Parliament of the United Kingdom drafted a bill to make provisions for economic crime and corporate transparency. The measure proposes giving Companies House more authority to verify the information before it is added to the register or to have information removed. The bill introduces mandatory verification requirements for those who manage, own, and control companies and other UK-registered entities. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
An analysis by Northstar Clean Technologies on annual global waste generation shows that over the next 30 years, waste generation is predicted to increase from 2.2 billion tonnes in 2019 to 3.4 billion tonnes in 2050. Numerous factors, including population growth, urbanization, and economic expansion, are to blame for this. Authorities need to provide proper waste treatment & disposal activities with such massive amounts of waste arising. Only 20% of waste recycled each year, with huge quantities still sent to landfill sites. The world's most wasteful nation is the United States, where each citizen generates an astounding 809 kg of waste annually. The biggest dump in the world, Apex, is also in the nation; it is situated in Clark County, Nevada. This week’s OSIN {One Story In Numbers} represents the average annual per capita municipal waste generation in top 3 countries.
