Considering the stakes involved in managing the AML/KYC compliances are high, banks/ FI should carefully assess the options available with them and look holistically to mitigate the risk.
With trade and economic sanctions becoming an ever more popular tool of foreign policy in today’s uncertain geopolitical climate, AML, screening and anti-fraud obligations are increasing in scope and complexity. At the same time, the growth in international cross-border trade to around $16 trillion per annum creates an environment that’s ripe for abuse for those wanting to launder money or finance terrorism or criminal activities through the guise of legitimate trade.
In this interview series, we heard from 3 FinTech experts and assessed the real, viable applications of these technologies within international trade and open account.
TFG were live at the Telegraph’s Future of Trade & Export conference, joined by Michael Boguslavsky, Head of AI at Tradeteq. There are a number of disruptive opportunities to digitise trade finance, including, machine learning, artificial intelligence, robotics, natural language processing.