Check out your Company Bowl for anonymous work chats.
https://bit.ly/3xLAuEO This week, we begin with an article showing the vast adoption of Metaverse in Southeast Asia and the need by the authorities to solve present gaps in the safety of its residents' personal data. Next, is a story about the emergence of Data-as-a-Service (DaaS) leading to improvements in credit decisions. Then, we have a piece focusing on the potential of Alternative Data studies to explain market anomalies better than the fundamental analysis or traditional finance theories. Following that, we have an essay describing the initiation of organizations realizing data as an asset & how they are monetizing their data. Next, is an analysis of the thriving data operations in every business today & some crucial ways to achieve effective data ops. Lastly, we have a survey revealing that data quality concerns are widespread and have a negative impact on organization outcomes.
This week we highlight the case of Said Bouteflika, brother of the late former Algerian president, who was sentenced for influence peddling, abuse of power, and money laundering. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates
It is the first stage in data analysis that entails the use of data visualization tools and statistical approaches. It helps to identify data set features and initial patterns. It involves pruning data to remove useless bits and uncover possible correlations between different data types. Exploration allows for a deeper understanding of a dataset, making it easier to navigate and use the data later. In any situation where you have a massive set of information, data exploration can help cut it down to a manageable size and focus efforts on optimizing your analysis. Python and R programming are the two most widely used languages for data exploration. Two key advantages of data exploration are to enable unexpected discoveries in the data and to foster a deep understanding of the data as an essential fundament for successful and efficient data science projects. In this week’s Know Your Data {KYD}, we present you with a brief overview of data exploration.
This week's Subject Matter is about the AML/CFT Digital Strategy For Law Enforcement Authorities by the Financial Action Task Force. The Financial Action Task Force (FATF) has published a report on how law enforcement agencies can use technology to successfully investigate money laundering and terrorist financing, mitigate the risks of these crimes, and securely share information. The report offers guidance for using technology for investigations, risk assessment, and AML/CFT information exchange. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
The Environmental Performance Index (EPI) for 2022 is a data-driven overview of the global level of sustainability. The EPI ranks 180 countries based on their progress in improving environmental health, protecting ecosystem vitality, and mitigating climate change. These policy objectives are further distributed in 11 issue categories, which are then categorized into 40 performance indicators. Denmark takes the top spot in the 2022 rankings with a score of 77.9 out of 100, which had outperformed the other 179 countries on almost each of the EPI's performance indicators. Denmark has achieved considerable leadership in efforts to promote a clean energy future and sustainable agriculture. India ranks at 180 in the 2022 EPI with a score of 18.9, attaining low ratings amidst a variety of crucial concerns. This week’s OSIN {One Story In Numbers} represents the scores of top & bottom ranked countries in EPI 2022.
May 2022 has been an active month for AML actions (200+). Total penalties (USD 4+ Bn) and imprisonments (26,000+ months) are relatively high, involving 362 individuals and 27 organizations. The United States of America and the United Kingdom continue to lead in AML actions in May 2022. Sign-up to AML Penalties app.amlpenalties.com/sign-up for more updates and insights.
This week we have 15 AML events involving 18 individuals, resulting in a total of USD 35 Mn penalties with incarcerations of 2,079 months. Notable events of the week include a 72 months imprisonment sentence imposed on Cyrilla Hippolyte, by the High Court of St. Lucia for money laundering. Next is 96 months imprisonment sentence imposed by Sidi Mohamed Court of Algiers on Said Bouteflika, and 48 months imprisonment on Ali Haddad with a fine of USD 20,669 for money laundering. Finally, the U.S. District Court of the District of Arizona has imposed a fine of USD 0.19 Mn, with 48 months imprisonment sentence on Sheldon Shaun Hibbert for money laundering. Finally, regarding regulatory updates, The FATF has published a report on the opportunities and challenges of new technologies in implementing AML/CFT measures more efficiently. Also, The EU has published a report unveiling the emerging fraud trends focusing on the fraud schemes damaging the environment. Click here https://bit.ly/3zvxbnz to read in detail about the week's top AML events, news, and regulatory updates
https://bit.ly/3mLcI6F This week, we begin with an essay describing the different approaches to AI while explaining that it can solve various problems even without the availability of raw data. Next, is an article sketching the importance of data transformation while migrating data and contradicting some related myths. Then, we have a piece focusing on ESG strategies adopted by businesses to benefit them in supporting their goals with sustainability &social responsibility. Following that, we have a story on the leading trend of data-centric trade agreements with emphasis on data & data sharing among nations. Next, is an analysis of the need for customer data platform (CDP) that might compromise data control, privacy & flexibility. Lastly, we have a TechRadar interview with Richard New, VP of Research at Western Digital, to discuss the opportunities of combining data storage and processing known as computational storage.
Case Files by AML Penalties (www.amlpenalties.com) This week we highlight the case of Arthur Hayes, Co-Founder and Owner of Bitcoin Mercantile Exchange or BitMEX, was sentenced for violation of bank laws and money laundering. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates
Data privacy deals with how sensitive and confidential data should be collected, stored, shared, and used with any third parties in compliance with privacy laws. Sensitive information handled by organizations often plays a vital role in business decisions, operations, and finances. Data privacy policies enable users to control who has access to their data and how much of the data is shared. Businesses must be transparent about managing consumer data and ensure regulatory compliance to build trust with customers. Adhering to data privacy laws like GDPR, HIPAA, CCPA, SOX, APPI, DCIA, and PDP helps businesses avoid legal consequences and keep consumer data secure. According to Gartner, the average yearly expenditure for privacy in major enterprises will approach $2.5 million by 2024. In this week’s Know Your Data {KYD}, we present you with a brief overview of data privacy.
