(David Caruso is vice president of financial crime compliance at WorkFusion, which describes itself as a pioneer in A.I. agents for financial crime compliance. A financial crime risk and compliance industry veteran, Caruso has worked as a former special agent with the U.S. Secret Service and as a builder of AML and sanctions compliance programs… Read More >>
Goldman Sachs Acquires United Capital for $750 Million
Goldman Sachs Jolts Wealth Management Strategy Goldman Sachs Group is acquiring United Capital Financial Partners, Inc. for $750 million in cash as a way to broaden the reach of the Wall Street giant’s intellectual capital and investment capabilities, officials say. The transaction is expected to close during the third quarter of this year, subject to… Read More >>
Q&A: Did Your Firm Miss a FATCA Deadline?
(Editor’s Note: The controversial Foreign Account Tax Compliance Act (FATCA), which extends the reach of the Internal Revenue Service (IRS) overseas so that it can collect tax revenues from U.S. citizens abroad, has caused major operational, IT management, and reporting woes for financial services firms around the globe. While Republican and Democrat groups have been… Read More >>
Robotics Comes to Due Diligence Reporting
Opus Signs Distribution Deal with OutsideIQ Opus, a regulatory software as a service (SaaS) vendor, announced that its Alacra, know your customer (KYC), reference data management and onboarding platform, will have access to automated due diligence reports for compliance via a distribution partnership with OutsideIQ, an artificial intelligence software provider. The agreement will make OutsideIQ’s… Read More >>
PIMCO to Centralize KYC Efforts
Asset manager Pacific Investment Management Company (PIMCO) is signing on to use the “Kyc.com” centralized know-your-customer (KYC) service to add to its due diligence and onboarding requirements for KYC, anti-money laundering (AML), tax, credit and legal agreements, say officials at the Newport Beach, Calif.-based firm. The kyc.com service is a joint venture between information and… Read More >>
