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A graph database, also known as a semantic database, is a programme that stores, queries, and modifies network graphs. Instead of leveraging rows and columns in tables, a graph database stores information as relationships between entities and depicts this data using nodes and edges. Graph databases are optimized to handle queries that can follow multiple hops and collect all nodes within a radius. With the emergence of social networks, the graph database expanded in popularity. The global graph database market was worth around $1,827.5 million in 2021 and is estimated to grow to about $5,996.25 million by 2028, with a CAGR of approximately 21.9% over the forecast period. In this week’s Know Your Data {KYD}, we present you with a brief overview of graph database.
The INFORM Risk Index assesses the risk of humanitarian crises and disasters. It can assist in determining where and why a crisis might emerge, allowing countries to decrease risk, strengthen people's resilience, and better prepare for when crises do arise. According to the total of 191 countries assessed for risk index, Somalia is the highest risk country whereas Singapore is the lowest risk country. The report also provides the severity index of 79 countries along with the trends for both risk & severity. The climate change portion of the report uses climatic and socioeconomic forecasts to look at how risk changes as a result of climate change under various emission and population scenarios. This week’s OSIN {One Story In Numbers} represents the top 10 & bottom 10 countries in INFORM risk index during 2021.
This week's Subject Matter is about the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing (2022 Strategy) by the US Department of the Treasury The US Department of the Treasury has updated the National Strategy for Combating Terrorist and Other Illicit Financing to assist financial institutions in assessing the illicit finance risk exposure to their businesses. The report also specified measures to increase transparency in the financial system and strengthen the AML/CFT compliance framework in the US. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
https://bit.ly/3FMvkvK This week, we begin with the HIA's recommendations addressing the major issues that have impeded the transmission of healthcare data to improve healthcare interoperability. Next is a piece discussing the obsolescence of data lake strategy and how hybrid data cloud is taking up the market. Then, we have an article describing the route to remove personal data from Google searches by filing a request. Following that, we have an essay narrating the benefits & needs of data quality. Next, is an analysis of how bad data gets into good pipelines & the strategies to mitigate this proactively. Lastly, we have a report from the UK Hydrographic Office (UKHO) sketching the importance of common standards and a central repository for marine geospatial data.
This week we have 10 AML events involving 15 individuals resulting in a total of USD 17.3 Mn penalties with incarcerations of 428 months. Notable events of the week include an administrative penalty of USD 6,400 and an imprisonment sentence of 45 months imposed on the Tito Ibn-Sheikh by the Southwark Crown Court for money laundering. Next, the York Crown Court has imposed 66 months of prison on Sukhdev Singh for money laundering. Finally, a USD 86,074 penalty and 60 months in prison were imposed by the U.S. District Court of Southern District of Georgia on Jamesetta Whipple-Duncan for money laundering. Finally, regarding regulatory updates, the FATF has issued a follow-up report examining Mexico’s progress in strengthening its AML/CFT framework, highlighting improvements related to mutual legal assistance requests. Also, the U.S. Department of the Treasury has announced its 2022 National Strategy for Combatting Terrorist and Other Illicit Financing. Click here https://bit.ly/3sCEvta to read in detail about the week's top AML events, news, and regulatory updates
April 2022 has been an active month for AML actions (250+). Total penalties (USD 4+ Bn) and imprisonments (25,580+ months) are relatively high, involving 369 individuals and 34 organizations. The United States of America and the United Kingdom continue to lead in AML actions in April 2022. Sign-up to AML Penalties app.amlpenalties.com/sign-up for more updates and insights.
This week we highlight the case of Saso Mijalkov, the director of the Administration for Security and Counter-intelligence, and the former head of the Secret Police of Macedonia who was sentenced to prison for aiding a money laundering scheme. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
It is a type of computing that takes place on or near a data source, reducing the need for data to be processed in a remote data center. The goal of edge computing is to move computing away from data centers to the network's edge, utilizing the capabilities of smart devices, mobile phones, and network gateways to deliver cloud services and processing. Some of its benefits are autonomy, data sovereignty, cost saving, and added functionality. The edge computing market size is expected to grow from $36.5 billion in 2021 to $87.3 billion by 2026, at a CAGR of 19.0% during the forecast period. In this week’s Know Your Data {KYD}, we present you with a brief overview of edge computing.
The What Worries the World poll, conducted by Ipsos, examines public opinion on the most pressing social and political issues in 27 nations today. This report highlights the most critical problems throughout the world, as well as whether people believe their nation is on the right track or not. It takes into consideration 18 issues for the survey. Inflation has risen to the top of the global concern list for the first time after hitting the top five for the first-time last month. It also provides context to economy & finance, on a country and personal level. In general, 35 percent of people believe their country's present economic situation is favourable, while the majority (65 percent) believe it is terrible. This week’s OSIN {One Story In Numbers} represents the global average of top 10 most worrying issues in April 2022.
The Subject Matter by AML Penalties (www.amlpenalties.com) This week's Subject Matter is about the Geographic Targeting Order (GTO) by the FinCEN. The Financial Crimes Enforcement Network (FinCEN) renewed and expanded the Geographic Targeting Orders (GTOs) to further assist in tracking illicit funds and activities by requiring the U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate. The terms of the GTOs are effective from Apr 30, 2022, to Oct 26, 2022. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates. #moneylaundering #compliance #antimoneylaundering #amlpenalties #subjectmatter #amlcft #financialcrime #corruption #bribery #fincen #gto #realestate #shellcompany #transactionmonitoring #beneficialownership #sar #ctr #reporting
