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We have recently announced that Optus is the first company to provide partial CCR account data to credit bureaus.
As partial CCR data does not include a customer’s repayment history, its important credit providers understand how to interpret the data.
In light…
The world’s foreign exchange market is one of the most traded financial markets, with an average turnover of a staggering $6.6 trillion per day.
Within that market, the Australian dollar has a significant share of traded currencies, and is increasingly susceptible…
AUSTRAC has released a risk assessment of the Non-Bank Lending and Financing sector (NBLFs).
This insightful report has confirmed AUSTRAC’s overall assessment of the money laundering and terrorism funding risk for NBLFs as medium, however specific risks that need to be…
For more than half a century, the United Nations Universal Declaration of Human Rights and other widely endorsed conventions have established a global framework for promoting respect for human rights.
Despite these worthy initiatives, the ability to deter human rights violations…
New reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act have now come into effect.
According to AUSTRAC, the reforms aim to streamline compliance and help protect business from money laundering, terrorism financing and other serious crimes. Customer identification procedures are…
Data and analytics company illion has partnered with WiseTech Global, leading developer and provider of software solutions to the logistics industry globally, to provide state-of-the-art credit reporting services through WiseTech’s leading logistics platform, CargoWise.
illion is the leading independent provider of…
Media reports have again surfaced about financial services firms ending up in court because they have been charging deceased customers for advice or insurance cover they did not receive.
The issue was first raised sensationally back in 2018 when the Hayne…
Approved deposit taking institutions (ADIs) hold a raft of data that shows both the financial state and spending behaviour of a depositor. This information is captured whenever there is an inflow or outflow of funds in a current account, overdraft,…
19 May 2021: Sydney, Australia: Leading data and analytics business illion has accelerated the rollout of open banking in Australia with the launch of an innovative new transaction score.
illion’s data scientists have unlocked new insights into consumers’ credit risk behaviour,…
As the threat of money laundering and terrorism financing in Australia and New Zealand continues to evolve, maintaining visibility and ensuring you have sufficient information on your customer portfolio is vital.
With recent AML breaches from high profile financial institutions on…