Compliance in the FinTech industry: The challenges

For the past 5 years, Finance and Technology have been the hottest couple of the startup world. FinTech is a match made in heaven with technology grabbing finance's hand, introducing it to the miracles of the electronic world.

Posted Wednesday June 1, 2016

Panama Papers integration into Arachnys: Behind the Screens

After the biggest data leak in history, we were pleased to announce (only 48 hours later) that we had successfully integrated a source into our Arachnys platform which searches over 200,000 offshore entities and associated individuals which were listed in the ICIJ’s Panama Papers database. This data was based on a selection of 11m documents leaked from the Panamanian law firm Mossack Fonseca.

Everyone hears about the data, the information, and the technical jargon, but we want to give a first hand account of how the data came to be searchable within our platform. So, we found out from an expert, the steps and process which took place to successfully integrate this data into our platform.

Posted Friday May 20, 2016

London Anti-Corruption Summit: The takeaways

The UK’s first Anti-Corruption Summit took place in London yesterday and was attended by representatives from more than 40 countries. John Kerry, US Secretary of State, Nigeria’s president Muhammadu Buhari, representatives from Bermuda and the Cayman Islands were present; however there were no representatives from British Virgin Islands or Panama.  In the opening remarks, Cameron, who is positioning himself as a champion against corruption stated that it is “one of the greatest enemies of progress in our time” and the “cancer at the heart of so many of the world’s problems.”

Posted Friday May 13, 2016

Panama Papers: The secret is out

"ICIJ's (International Consortium of Investigative Journalists) Arachnys subscription was invaluable. Especially in researching PEPs and news sources from across the globe."

This is coming from ICIJ. We are honoured and humbled to have been able to help with piercing the offshore veil and exposing one of our time's most significant financial secrecy scandals.

We are talking about the biggest leak of inside information in history. We are talking about an investigation that will send shockwaves around the world, involving banks, law firms, politicians, athletes and companies. We are talking WikiLeaks on steroids. 

Published by the International Consortium of Investigative Journalists in collaboration with the German newspaper Süddeutsche Zeitung and more than 100 other news organizations around the world, the Panama Papers reveal the secretive underworld of offshore investments and the anti-money laundering connotations associated with it. From emails and financial spreadsheets, to passports and corporate records, more than 11.5 million documents have seen the light of day, creating an unprecedented case study for money-laundering. 

What's going to happen next? People will be exposed, calls for more transparency will be voiced but the dust will eventually settle. The real question everyone should be concerned about is this: How do we attack the problem at its source? 

AML, KYC and compliance issues have always been the elephant in the room – we all acknowledge its existence but nobody does anything about it. Now things are different. Now the elephant is not just standing in the room, it's also singing. If we do nothing more than simply react, soon there will be a new scandal breaking out. It's time to act.

Posted Monday April 4, 2016

Financial Crime Risk Management Systems 2016

Chartis' Financial Crime Risk Management Systems report featured Arachnys in their 2016 RiskTech Quadrants.

Posted Tuesday March 15, 2016

Google isn’t even close as a tool for proper due diligence. Why not?

Because that’s not what it was designed for. Whilst the Google search engine has been one of the most empowering tools of the Internet era, when it comes to something as specific, technical and serious as due diligence there are some obvious shortcomings in using it.

Posted Tuesday March 8, 2016

ICBC accused of money-laundering in Spain, VimpelCom settles bribery probe for $795m, PTC resolves FCPA violations, and more

 Antoher week, another news update from Arachnys. 
Posted Friday February 19, 2016

Compliance in the FinTech industry: The challenges

For the past 5 years, Finance and Technology have been the hottest couple of the startup world. FinTech is a match made in heaven with technology grabbing finance's hand, introducing it to the miracles of the electronic world.

Posted Wednesday June 1, 2016

Panama Papers integration into Arachnys: Behind the Screens

After the biggest data leak in history, we were pleased to announce (only 48 hours later) that we had successfully integrated a source into our Arachnys platform which searches over 200,000 offshore entities and associated individuals which were listed in the ICIJ’s Panama Papers database. This data was based on a selection of 11m documents leaked from the Panamanian law firm Mossack Fonseca.

Everyone hears about the data, the information, and the technical jargon, but we want to give a first hand account of how the data came to be searchable within our platform. So, we found out from an expert, the steps and process which took place to successfully integrate this data into our platform.

Posted Friday May 20, 2016

London Anti-Corruption Summit: The takeaways

The UK’s first Anti-Corruption Summit took place in London yesterday and was attended by representatives from more than 40 countries. John Kerry, US Secretary of State, Nigeria’s president Muhammadu Buhari, representatives from Bermuda and the Cayman Islands were present; however there were no representatives from British Virgin Islands or Panama.  In the opening remarks, Cameron, who is positioning himself as a champion against corruption stated that it is “one of the greatest enemies of progress in our time” and the “cancer at the heart of so many of the world’s problems.”

Posted Friday May 13, 2016

Panama Papers: The secret is out

"ICIJ's (International Consortium of Investigative Journalists) Arachnys subscription was invaluable. Especially in researching PEPs and news sources from across the globe."

This is coming from ICIJ. We are honoured and humbled to have been able to help with piercing the offshore veil and exposing one of our time's most significant financial secrecy scandals.

We are talking about the biggest leak of inside information in history. We are talking about an investigation that will send shockwaves around the world, involving banks, law firms, politicians, athletes and companies. We are talking WikiLeaks on steroids. 

Published by the International Consortium of Investigative Journalists in collaboration with the German newspaper Süddeutsche Zeitung and more than 100 other news organizations around the world, the Panama Papers reveal the secretive underworld of offshore investments and the anti-money laundering connotations associated with it. From emails and financial spreadsheets, to passports and corporate records, more than 11.5 million documents have seen the light of day, creating an unprecedented case study for money-laundering. 

What's going to happen next? People will be exposed, calls for more transparency will be voiced but the dust will eventually settle. The real question everyone should be concerned about is this: How do we attack the problem at its source? 

AML, KYC and compliance issues have always been the elephant in the room – we all acknowledge its existence but nobody does anything about it. Now things are different. Now the elephant is not just standing in the room, it's also singing. If we do nothing more than simply react, soon there will be a new scandal breaking out. It's time to act.

Posted Monday April 4, 2016

Financial Crime Risk Management Systems 2016

Chartis' Financial Crime Risk Management Systems report featured Arachnys in their 2016 RiskTech Quadrants.

Posted Tuesday March 15, 2016

Google isn’t even close as a tool for proper due diligence. Why not?

Because that’s not what it was designed for. Whilst the Google search engine has been one of the most empowering tools of the Internet era, when it comes to something as specific, technical and serious as due diligence there are some obvious shortcomings in using it.

Posted Tuesday March 8, 2016

ICBC accused of money-laundering in Spain, VimpelCom settles bribery probe for $795m, PTC resolves FCPA violations, and more

 Antoher week, another news update from Arachnys. 
Posted Friday February 19, 2016