As we move into February, staying updated on the latest developments in KYC, AML, and privacy-enhancing technologies is essential. Here’s your bi-weekly roundup of key insights and trends.
Article 75: A New Opportunity to Fight Crime More Effectively
A recent Deloitte UK report explores Article 75, a legislative opportunity that could significantly enhance financial crime detection and prevention. The article examines how financial institutions can leverage this framework to improve their compliance efforts and fraud-fighting capabilities.
Insights from Irish Payment Fraud Statistics
The Central Bank of Ireland has released new data on payment fraud trends, revealing that the total value of fraudulent payments rose by 26% in 2023, increasing to €126 million from €100 million in 2022. The report highlights that credit transfers and card payments accounted for the majority of all fraud, emphasizing the need for enhanced security in transactions.
Ireland’s First Fully Digital Address Verification Solution
In collaboration with ESB, Sedicii has launched Ireland’s first fully digital address verification solution. This new, fully digital service enables organisations to verify customer name and address information digitally, directly with an authority without any personal data exchange.
Sedicii Granted Japanese Patent for Secure Multi-Party Computation Technology
Sedicii has been granted a Japanese patent for its groundbreaking secure multi-party computation (MPC) technology. This innovation allows multiple parties to process data collaboratively while ensuring that sensitive information remains private—paving the way for more secure financial transactions and privacy-enhancing applications in compliance.
Compliance in the Digital Age: Key EU Regulations You Need to Know
As EU regulations continue to evolve, businesses must stay ahead of compliance requirements. Our latest article breaks down critical regulations such as:
- eIDAS2 – Enhancing eIDAS with a European Digital Identity Wallet.
- DORA – Digital operational resilience for financial institutions.
- NIS2 – Strengthening cybersecurity across critical infrastructure sectors to combat the rising threat of cyberattacks.