Moody’s Talks: KYC Decoded

Moody's Analytics
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Moody’s Talks: KYC Decoded

Moody’s Talks: KYC Decoded is your window into the world of financial crime fighters and the industries that arm them against the illegal actors that threaten people, companies and society. Listen and learn from subject matter experts, authors and practitioners to find out how you can better address and mitigate the risks to your business and community.

  1. 12/18/2024

    The deep, dark woods: Navigating the illegal timber trade

    You may be familiar with yacht owners being sanctioned, but what of the potential risks tied to the yachts themselves? Burmese teak wood, commonly found in marine vessels, is known for its exceptional quality, natural water resistance, and premium price tag. Unfortunately, that price tag is not nearly as steep as the potential consequences of supporting the illegal timber trade. In this episode of KYC Decoded, we're honored to welcome Kate Klikis, forest campaigner and Myanmar timber expert from the Environmental Investigation Agency (EIA). In an enlightening conversation with host, Alex Pillow, Kate educates us on the illegal timber trade and its greater implications. Key topics include: the differences between legal and illegal timber trading; the illegal timber trade in Myanmar; global regulations to combat the illegal timber trade; industries most vulnerable to risks associated with illegal timber trading; and the integrated risks involved with illegal deforestation, sanctions, money laundering, bribery and corruption, counterfeiting, and more.

    34 min

  2. 12/13/2024

    Fraud in focus: Understanding the complexity of modern scams

    Let's get into the evolving world of fraud on KYC Decoded, where the complexity and sophistication of fraud now poses new and daunting challenges for professionals and organizations alike. This episode draws on invaluable insights from the Cifas Fraudscape report, brought to life by guest, Stephen Dalton, Director of Intelligence at Cifas. Together with our host, Alex Pillow, they analyze the most concerning fraud trends, uncover the advanced tactics of fraudsters, and emphasize the importance of data in defending against threats.  Key topics in this episode include: the factors leading to the rise in reported fraud cases and strategies to combat this upward trend; the sophistication of modern scams and the impact on targeted industries; fraudulent activities committed by lone individuals versus organized crime groups; how AI is leveraged by both fraudsters and compliance professionals; and the essential measures to detecting and disrupting fraud.

    41 min

  3. 11/08/2024

    Is the future of financial crime prevention beyond traditional KYC?

    The positioning of “traditional” KYC against new and emerging methodologies creates opportunities to assess the most effective processes and technologies used to prevent financial crime. It raises the question: What transformative actions and AI implementations are needed to revolutionize a KYC framework, ensuring the industry is prepared for future advancement? In this episode of KYC Decoded, Hanjo Seibert, managing director and partner at Boston Consulting Group, and global lead for Compliance and Anti-Financial Crime (AFC) Technology Transformation joins our host Alex Pillow. Their insightful dialogue provides fresh viewpoints on questions such as: Are traditional KYC/AML methods sufficient to address the challenges professionals face today? How can rules-based and data-driven approaches combine to increase efficiency? How should professionals approach problem-solving: by prioritizing data first or by putting compliance considerations first? How can financial institutions ensure personnel are trained to effectively use new technologies against fraudsters who are also innovating rapidly? Will we continue to see multiple vendors providing diverse solutions, or is there a trend towards consolidating services into one-stop shops?

    57 min

  4. 10/25/2024

    Unpacking Article 5r of EU Reg. 833 | Financial surveillance

    In this episode of KYC Decoded, we dive into Article 5r which mandates European banks report any money transfers exceeding 100,000 euros leaving the EU, targeting entities with more than 40% Russian ownership. Join Moody’s Industry Practice Lead, Nicola Passariello, and host Alex Pillow as they unravel the complexities of financial surveillance under Article 5r of EU Reg. 833. Learn more about the implications this directive has for the financial sector and navigating complex ownership structures to meet new deadlines. Highlights include: An introduction and explanation of Article 5r of EU Reg. 833 Reporting requirements for financial institutions Challenges in identifying direct and indirect ownership Importance of having a full KYC program Common pitfalls and guidance for practitioners

    21 min

  5. 10/11/2024

    Unmasking the threat: The dark reality of synthetic identities

    From social media account information to password creation to IP addresses, the digital footprint we create grows larger every time we go online – and it is virtually impossible to avoid. At the same time, sophisticated criminals can capture this wealth of Personally Identifiable Information (PII) and create synthetic identities to commit crimes like fraud, money laundering, illegal weapons dealing, and more. Although scary, the first thing we can do to combat this criminal behavior is learn about it. So, we are excited to share the mic with Constella's experts, Jason Wagner, Vice President of Identity & Digital Intelligence, and Dan Mathews, Director of Worldwide Sales Engineering. You do not want to miss this incredibly engaging and knowledgeable conversation with host, Alex Pillow, asking hard-hitting questions like: What is a synthetic identity? What threats do synthetic identities pose to the financial sector at large? How are criminals stealing data? What populations and kinds of businesses are most vulnerable to the risks associated with synthetic identities? What are “ghosts” in the context of synthetic identities, and how can they attack businesses? How is AI changing the landscape of creating synthetic identities? How can the risks created by synthetic identity fraud be mitigated?

    42 min

  6. 09/27/2024

    Understanding and mitigating modern cyber risk

    In this episode, KYC Decoded welcomes Derek Vadala, Chief Risk Officer at BitSight, who shares his insights on the intricacies of cyber risk, technology risk, and digital risk with host Alex Pillow. They explore the evolving nature of cyber threats, from financially motivated attacks to nation-state espionage, and discuss best practices for mitigating these risks through in depth defense strategies and ongoing monitoring. Derek emphasizes the criticality of a risk-based approach to supply chain due diligence and the importance of integrating cyber risk management into broader compliance frameworks. Key takeaways include: cyber risk encompasses adversarial activities, technology issues, and digital transformation challenges, each requiring distinct mitigation strategies; financially motivated cyber criminals and nation-state actors use different tactics but can blur lines, necessitating vigilant, multifaceted defenses; effective cyber defense relies on automation and layered security measures, beyond just user education; and integrating cyber risk management with overall compliance and due diligence processes enhances organizational resilience.

    47 min

  7. 09/13/2024

    Exploring the Data and Technology for Compliance (DT4C) Alliance

    This episode introduces the Data and Technology for Compliance (DT4C) Alliance, an industry group comprising leading data and technology companies focused on enhancing financial crime prevention in the EU. Host Alex Pillow, along with Ted Datta from Moody's, and Gem Conn from Dow Jones Risk and Compliance, discuss the Alliance's goals, key initiatives, and the impact they have had so far, including the inclusion of high-quality data standards in AML regulations. They explore how the alliance works in practice, the balance between data privacy and AML effectiveness, and the broader implications for risk and compliance professionals.

    31 min

  8. 08/30/2024

    VASP vigilance: Leading the charge in crypto compliance

    As digital assets continue to evolve and enrich investment portfolios, they simultaneously demand innovative anti-money laundering (AML) and compliance strategies to counteract potential exploitation by bad actors. There is a critical need for financial service firms to adapt to these changes, understanding the money laundering risks tied to crypto. In this episode of KYC Decoded, we are joined by Liat Shetret, Director of Global Policy and Regulation at Elliptic, and Karmjeet Singh, Product Strategist at Moody’s, who together unravel the pivotal role of Virtual Asset Service Providers (VASP) in navigating and addressing these emerging challenges in the digital economy. Key topics of their conversation include: the rapid evolution and developments of the VASP and cryptocurrency ecosystem in recent years; the sophistication and complexities of criminal activity in the digital world; strategies to effectively manage the challenges posed by VASP; how compliance officers balance dual roles of safeguarding against risk while facilitating organizational growth; and predictions on future crypto market trends and their implications for risk and compliance professionals.

    54 min
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Ratings & Reviews

4
out of 5
8 Ratings

About

Moody’s Talks: KYC Decoded is your window into the world of financial crime fighters and the industries that arm them against the illegal actors that threaten people, companies and society. Listen and learn from subject matter experts, authors and practitioners to find out how you can better address and mitigate the risks to your business and community.

Information

  • Creator
    Moody's Analytics
  • Years Active
    2022 - 2024
  • Episodes
    74
  • Rating
    Clean
  • Copyright
    © 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.
  • Show Website
    Moody’s Talks: KYC Decoded

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