On the 15th of July, SEPA Cyber Technologies took part in the online FraudTech and FinCrime Forum organized by FinTech North. At the event, selected fintech companies were able to present their technological solutions that help with the fight against financial crime, and SEPA Cyber was one of them.
Our CEO, Marvin Blazhevski, gave a presentation on how SEPA Cyber’s tech solutions can prevent AML (Anti-money laundering) and combat terrorist financing. He presented our white label scalable KYC on demand, KYB and PEP and Sanction modules securing that the person or the company behind the financial activity is the one they claim to be and that they haven’t participated in financial crime before.
The forum had 3 main sections where industry experts discussed the industry challenges and what needs to be done to prevent financial crime and fraud. Grahame White, Head of Training & Business Development at Analysis International, gave the first presentation on “Emerging financial crime threats and their investigation”.
According to Grahame, the biggest challenges are AML failure and data safety. He spoke about the initial indicators that can help prevent AML. These included identifiers (common contacts, flagged accounts), interactions, source of wealth, representatives, and suspicious activities such as transactions that do not fit the customer profile.
Afterwards, Lee Melia, Co-founder of Tasika, shared his thoughts on how technologies can help in the fight against FinCrime by adding value, increasing the effectiveness, driving efficiency, and reducing false positives.
The event ended with a panel discussion on challenges in the financial industries and how industry experts can overcome them. The audience was also able to ask questions in the Q&A section of the platform.
The FinTech North event was full of insights from the financial sector. We, at SEPA Cyber Technologies, are extremely honored that we had the opportunity to participate in the forum and listen to what other industry experts have to say about FinCrime and its prevention.