Shield is a cross-regulation eComms compliance platform that utilizes AI, Natural Language Processing and Visualization capabilities to automate and orchestrate the complete communications compliance lifecycle, mitigate risk and make surveillance efficient and ROI driven.
Is the Non-Regulated Party Over? An FCA Crack Down. Depending on which side of the table you’re on – be it the Board room or your kitchen table – it seems that both executives and employees of financial firms have begun flexing their muscles.
Wall Street was one of the first communities worldwide to decree that the work-from-home (WFH) party was over. Big firms like JP Morgan Chase, Bank of America, and others have demanded that their employees return to the office. Not to mention that most have mandated that all employees be vaccinated before they do so – “or else.” David Solomon, the CEO of Goldman Sachs, publicly called out WFH as “an aberration … and not the new normal.” But employees are flexing their muscles in this period of “The Great Resignation.” It’s about integrity The FCA, per its charter, is focused on protecting the integrity of the markets. On October 11, 2021, the FCA issued a note that stated, “…FCA visits could take place in homes.” Although the intended actions of the FCA are unprecedented, they are not unfounded. Securities and Exchange Commission - Communications Compliance. Financial Firms - Electronic Communications Compliance. We knew it wouldn't be long before regulatory agencies began to exercise their enforcement powers.
COVID isn't under control, but after over two years of the pandemic, we've mostly learned to live with it. However, when it comes to their efforts to ramp up Electronic Communications compliance, the authorities appear to be in general agreement. Beware of financial organisations that do not track their employees' messages across all platforms. The authorities are on their way to get you. Electronic Communications Compliance - Financial Firms. We knew that it wouldn’t be long before regulatory authorities began flexing their enforcement muscles.
COVID isn’t contained, but, nearly two years into the pandemic, we’ve more or less learned to live with the virus. That said, the authorities appear to be in general agreement when it comes to their efforts to begin ratcheting up Electronic Communications compliance. Financial firms who are not adequately tracking employees’ messages across all channels, be warned. The authorities are coming for you. Previously, we covered the emerging story around the monitoring of social media. Takeaways from the E-Comms Surveillance Deep Dive. E Comms Surveillance Deep Dive (2) E Comms Surveillance Deep Dive (2) E-Comms Surveillance Deep Dive - Shield (Part-2) A few months ago, back in May 2021, (E-Comms Surveillance) surveillance professionals from around the globe came together to discuss the future of communications surveillance.
Shield was there. We garnered numerous insights on how surveillance had changed, was changing – and needed to change. Since there was agreement around the big challenges facing the industries and professionals represented at the summit, there were also key differences in how firms were approaching these challenges. At the heart of everything was the theme of monitoring in a manner that was thorough enough to detect the vast majority of compliance failures yet do without breaking any privacy laws. Emojis can mask nefarious behavior. Whether we like them or not, those small cartoonish emblems are inexorably linked to our daily lives.
They've become commonplace in our digital vernacular, with 92 percent of the population using an expressive sign in over two trillion messages every year. Emojis appear in one out of every five Tweets, and over 5 billion emojis are sent everyday on Facebook Messenger! Emojis originally appeared in 1982. They were ASCII emoticons back then, but they've since evolved into fairly complex visual expressions. There are currently around 3,500 emojis in the Unicode standard. Emojis can mask nefarious behavior. We Learned from an E-Comms Surveillance Deep Dive. Emojis are everywhere – Including Case Law. Love ‘em or hate ‘em, those little cartoonish symbols are inextricably entrenched in our lives.
They are now ubiquitous in our digital lexicon where 92% of the digital population incorporates an expressive symbol into two-plus trillion messages annually. One in five Tweets contains an emoji and more than 5 billion emojis are sent on Facebook messenger – daily! Emojis first debuted back in 1982. An E-Comms Surveillance Deep Dive - Shield. Compliance officers, RegTech suppliers, and financial professionals from Europe, Asia, and the United States assembled in May 2021 to discuss the future of communications surveillance.
There was a lot on the line for each group. Policies, methods, and technology must all fulfil current requirements while also considering future requirements. The key to accomplishing this was to make individual surveillance seamless while remaining compliant with privacy rules. Shield - An E-Comms Surveillance Deep Dive. In May 2021, compliance officers, RegTech vendors, and financial folks across Europe, Asia, and the USA gathered to debate the future of communications surveillance.
For each group, a lot was at stake. Policies, processes, and tech all need to meet existing requirements – as well as consider future needs. The key to doing this was making the surveillance of individuals seamless, but without breaking any privacy laws. Indeed, something very much easier said than done. It was apparent, communications surveillance was becoming increasingly challenging, and the attendees wanted ideas on how to optimize their ongoing efforts.
This article is Part A of a two-part series. The Big Challenges Let’s start here with the Big 3. Why China Took A Move To Regulate Cryptocurrency Mining. China’s latest move About Crypto Trading. Maybe.
That’s the short answer. The more comprehensive answer requires a bit more dialogue. Non-Financial Sector on AML duties. Non-Financial Sector on AML duties. Office 365. Non-Financial Sector on AML duties. German adaptation of money laundering law to the EU Money Laundering Directive What has happened?
In January 2020, the 5th EU Money Laundering Directive (EU 2018/843) was enacted which increased the auditing and due diligence requirements for non-financial sectors. As a result, Germany has adapted its money laundering legislation accordingly. The highlight in the Money Laundering Act: all transactions must be reported if money laundering or terrorist financing is suspected. The German National Risk Analysis of combating money laundering and terrorist financing must be supported by the obligated parties of the Money Laundering Act. The German regulators targeted the non-financial sector in this law and Bafin published an interesting conclusion last October: “Key risk areas result from Germany’s high economic attractiveness, the cash-intensive nature of the country’s economic system and the international interconnectedness of its economy.”
A finalist in two Prestigious Industry Awards. We are honoured to be a finalist in the Finovate Awards 2020 for 'Best RegTech Solution,' as well as the Data Management Insight (DMI) Awards 2020 for 'Best Data Solution for Regulatory Compliance.'"We are very happy to be a finalist in both the Finovate Awards and the Data Management Insight Awards for 2020," said Iftach Drori, Shield's Head of Marketing.
Both honours emphasise regulatory compliance technology innovation and quality, which is at the heart of what the Shield team aspires for and excels at. With the pressures of ever-tightening rules, as well as the extra complexity of managing compliance in the new normal of remote working, excellent RegTech solutions have never been more in demand. " Shield a finalist in two Prestigious Industry Awards. Shield a Finalist in two Prestigious Industry Awards. We are proud to announce we are a finalist for ‘Best RegTech Solution’ in the Finovate Awards 2020, and also for ‘Best Data Solution for Regulatory Compliance’ in the Data Management Insight (DMI) Awards 2020. Iftach Drori, Head of Marketing at Shield commented, “We are very honored to be a finalist in both the Finovate Awards and Data Management Insight Awards for 2020.
Both awards recognize innovation and excellence in regulatory compliance technology, which is the beating heart of what the Shield team strives for and excel at. Excellent RegTech solutions have never been in greater demand, with the pressures of ever-tightening regulations, along with the added complexity of overseeing compliance in the new normal of remote working.”
A finalist in two Prestigious Industry Awards - Shield. The True Cost of Compliance - Jobs at Shield. If you do, you'll be damned if you don't. Financial institutions are mired in a seemingly unsolvable conundrum. Permission to operate necessitates adherence to regulatory compliance regulations and procedures established by the firms' governing national and global financial authorities. As Compliance Officers and regulators struggled to handle an overnight transition from dealers operating in safe environments – to working from their kitchens – the global epidemic drove up compliance costs. As is often the case with technological developments, the true cost of those advancements should be assessed in jobs rather than dollars. The True Cost of Compliance Jobs at Shield. True Cost of Compliance - Jobs at Shield. Damned if you do, damned if you don’t. Financial firms are caught up in a seemingly unwinnable paradox.
Permission to operate requires meeting regulatory compliance laws and policies as defined by the national and global financial authorities by which the firms are governed. The global pandemic spiked compliance costs as Compliance Officers and regulators grappled with how to manage an overnight shift from traders operating in secured environments – to working from their kitchens. As it is often the case with technology advancements, the true cost of those advances should not be measured in currency, it should be measured in jobs. Adding insult to injury Although regulators temporarily relaxed reporting and some other aspects of compliance following the arrival of COVID, all firms recognized that the day of reckoning would eventually come and enforcement was non-negotiable.
A closer look at the costs of compliance. Shield - Detect Insider Trading Behaviors from INSIDERS Solution. The Shield INSIDERS™ arrangement is extraordinary, having not exclusively been worked around the utilization of Lexicons yet additionally joined with incredible AI, to give an exceptionally exact coordinated methodology. The improved adaptation upholds firms that are under remarkable strain to screen all important correspondence channels, while exhibiting to the Regulator that any possible roads for Insider Trading are shut, in spite of the critical change in working practices for some representatives.
Shield's INSIDERS arrangement thinks about every one of the multifaceted and complex subtleties of Insider Lists, making precise and dependable allowances through a robotized approach that comprehends the language, shoptalk, and cautioning indications of potential market misuse. Shield Launches INSIDERS Solution to Detect Insider Trading Behaviors. INSIDERS Solution to Detect Insider Trading Behaviors - Shield. Shield - INSIDERS Solution to Detect Insider Trading Behaviors. We are delighted to announce we have launched an enhanced solution that combines our Insider Trading and Information Handling models -INSIDERS, which answers market demands for greater surveillance to accompany increased remote working in the new normal.
The Shield INSIDERS™ solution is unique, having not only been built around the use of Lexicons but also combined with powerful AI, to provide a highly accurate integrated approach. The enhanced version supports firms that are under unprecedented pressure to monitor all relevant communication channels, whilst demonstrating to the Regulator that any potential avenues for Insider Trading are closed, despite the significant shift in working practices for many employees. Shield and LeapXpert Collaboration - Encrypted Messaging Applications. Real-Time Surveillance Across Encrypted Messaging Applications - Shield. Services like WhatsApp and WeChat have become relied upon in hybrid work environments, leading to an immediate need for tech-driven compliance tools. Shield and LeapXpert Collaboration - Encrypted Messaging Applications. Holistic Surveillance - Four years since coined - Shield. Holistic Surveillance living up to the hype - Since Coined. Around 2016, “holistic surveillance” was a phrase on the lips of just about everyone working in RegTech or with some stake in regulatory compliance within financial services institutions.
Holistic surveillance, offered by several companies today, promised to help companies deal with the massive volume and scope of data that they are today expected – and legally required — to monitor in order to achieve compliance. The holistic approach to compliance said that it would be able to connect trade and eComms data from both trade surveillance platforms and lexicon-based alerts generated from electronic communications. At a time when regulatory expectations have ramped up across the board for all financial institutions, with penalties levied for failing to comply with current rules, and new rules being added all the time, holistic surveillance sounded good.
Since Coined - Holistic Surveillance living up to the hype. Illustrious AIFintech 100 - Shield. The most recent honor further means the significance of AI-driven consistence observing answers for banks and monetary foundations We're enchanted to declare we've been named to the AIFintech 100, an esteeme d honor respecting the world's most creative AI-arrangement suppliers for monetary administrations. With Shield's demonstrated capacity to distinguish chances across correspondence channels, including insider exchanging, ridiculing, front-running, and surprisingly lewd behavior and bigotry, the AIFintech 100 honor is simply the most recent for Shield and our start to finish interchanges consistence stage.
Importance of AI-Driven Compliance Monitoring Solutions. Illustrious AIFintech 100 - Shield Compliance Monitoring Solutions. The latest honor further signifies the importance of AI-driven compliance monitoring solutions for banks and financial institutions We’re delighted to announce we’ve been named to the AIFintech 100, a prestigious award honoring the world’s most innovative AI-solution providers for financial services. Further Strengthen Compliance and Commercial Insights - Shield. Today we are announcing the addition of Shield’s Trade Intelligence layer as part of our communications compliance lifecycle platform. By utilizing AI and closely matching trade data with all relevant communications, firms can retrieve and report on specific trades faster, easier, and more accurately, along with easy sharing of this information with the appropriate regulators, to comply with investigations and avoid potential fines resulting from fraudulent or prohibited behaviors.
Shield - Further Strengthen Compliance and Commercial Insights. Further Strengthen Compliance - Trade Intelligence Solution. Today we are declaring the expansion of Shield's Trade Intelligence layer as a feature of our interchanges consistence lifecycle stage. By using AI and intently coordinating with exchange information with every single applicable correspondence, firms can recover and cover explicit exchanges quicker, simpler, and all the more precisely, alongside simple sharing of this data with the proper controllers, to consent to examinations and stay away from potential fines coming about because of false or restricted practices. Regulatory response to COVID-19.
Shield - Regulatory response to COVID-19. Regulatory response to COVID-19 at Shield. Shield - Best Complete Communications Compliance Platform 2021. We are pleased to declare our foundation has won the 'Best Complete Communications Compliance Platform 2021' class in the Wealth and Finance International FinTech Awards. After reporting Shield as the champ, an assertion from an honor representative said, "This is a merited accomplishment and I'd prefer to pass on my hottest congrats! Following an extreme year, it is a demonstration of your steadiness and devotion to have won notwithstanding the numerous hardships and pressing factors welcomed on by the pandemic, and we at Wealth and Finance are enchanted to have had the option to perceive your one of a kind commitment to the FinTech business.
" The honor perceives that Shield has set another degree of assumption by making the world's just really start to finish correspondences consistence stage. Shield - ‘Best Complete Communications Compliance Platform 2021' Shield Named ‘Best Complete Communications Compliance Platform 2021' Industry-Defining, AI-Driven Alert Transparency to Financial Compliance. Industry-Defining, AI-Driven Alert Transparency to Financial Compliance - Shield. Shield - Industry-Defining, AI-Driven Alert Transparency to Financial Compliance. Workplace Intelligence from Inefficient, Dead-End Archives. Shifting From Inefficient, Dead-End Archives to Workplace Intelligence. Shield - Workplace Intelligence from Inefficient, Dead-End Archives. A Leading RegTech for Communications Archiving Solutions.
Shield - A Leading RegTech for Communications Archiving Solutions. Shield for Communications Archiving Solutions. Shield - The post-COVID new normal. The post-COVID new normal. The post-COVID new normal at Shield. Enhanced Protection and Greater Transparency. Greater Transparency and Enhanced Protection. Shield Compliance Platform - Enhanced Protection and Greater Transparency. Why are Archiving Solutions Making Case Management for Shield. Why are Archiving Solutions Making Case Management - Shield. Case Management Extra Challenging. Fictitious Devices or Deception : Transactions : REMIT. Fictitious Devices or Deception : Transactions : REMIT. Fictitious Devices or Deception : Transactions : REMIT. Communications Archiving Solutions. Communications Archiving Solutions. Financial Firms Unhappy with their Communications Archiving Solutions. Highest Levels of Trust and Security with SOC 2 Accreditation at Shield.
SOC 2 Accreditation. SOC 2 Accreditation. (Trading) Cartel - Information About it. What You Think about (Trading) Cartel? (Trading) Cartel - Know About it. The Rules for AI in Financial Services - Shield. Financial Services with AI Rules at Shield. AI in Financial Services – Rules at Shield. Compliance Officer's Life with Frustrating Day. Life of a Compliance Officer - A Frustrating Day.
Compliance Officer's Life with Frustrating Day. Trade and eComms Surveillance for Financial Sector - Shield. Combining Trade and eComms Surveillance - Shield. Shield - Trade and eComms Surveillance for Financial Sector. Information about GDPR and MiFID II at Shield. Know more about GDPR and MiFID II. Know more about GDPR and MiFID II at Shield. Shield - The Many Challenges of Information Sharing. Shield - The Many Challenges of Information Sharing.
Information Sharing Challenges at Shield. Potential Abuse is Vital - Protecting Online Collaboration Tools. Potential Abuse is Vital in the New Normal - Microsoft Teams Surveillance. Microsoft Teams Surveillance - Potential Abuse is Vital in the New Normal. Enhance our Communications Compliance Platform - Shield. Shield - Enhance our Communications Compliance Platform. Most Innovative Unstructured Data Management Project - Shield.