TTI Chairman’s Blog

Truth Technologies exhibits at the 24th annual ACAMS Conference in Hollywood, Florida, April 15 – 17, 2019. ACAMS, the Association of Certified Anti-Money Laundering Specialists organizes this largest conference and tradeshow on financial crime since 1995. Truth Technologies, the pioneer in developing regulatory compliance technology solutions was represented at all 24 conferences. If you attend, we look forward meeting you (again) at Booth 602.  

Truth Technologies is at FIBA AML 2019, the Florida International Bankers Association’s Annual Anti Money Laundering Conference, Miami, March 11, 12 & 13, 2019. https://fibaaml.fiba.net/ FIBA AML is one of the major annual Conferences and Trade Shows where Truth Technologies, doing business as General FinTech in Florida presents its regulatory compliance technology solutions in the areas of anti-money laundering, anti-terrorist financing, sanctions, KYC, and anti-bribery regulations.    

Today Truth Technologies Inc. (TTI) enters its 23rd year in the business of regulatory compliance solutions.  In the history of financial crime compliance, TTI has been a trailblazer from the early beginnings in the development of anti-money laundering solutions more than 22 years ago. Founded by Egide Thein in late 1996, TTI offers state-of-the-art know-your-customer (“KYC”), counter-terrorism financing (“CTF”), anti-money-laundering (“AML”), customer identification program (“CIP”), sanctions and fraud detection solutions for any business that is subject to KYC, CTF, AML, [...]

According to a recent report by Marketing Insights, the anti-money laundering market is expected to grow with a CAGR of 11% in the next 5 years.  Truth Technologies is mentioned in the report as one of the leaders in this industry. Reference: Apex news, Aug 7, 2017

This is an excerpt of a remarkable article by Alice BrightSky, senior director of Fordham Law's compliance programs. Why People Commit White Collar Crimes (And How to Stop Them) ...Perpetrators of many white collar crimes were not career criminals who set out to defraud their employers, clients, and shareholders, but rather businessmen and women … who committed criminal acts in response to overwhelming personal pressures. One felon states … "Most white collar crimes are the cover-ups that come after a [...]

Islamic banking in Luxembourg and the conflict of law The financial center of Luxembourg, in its quest for diversification away from former niche banking made impossible through automatic reporting, has turned among others to Islamic Finance. Products formerly unknown are listed on the Luxembourg Stock Exchange, Parliament recently authorized the first Luxembourg Sukuk, and private banking based on Sharia is offered by many financial institutions. We are here at the intersection of Sharia and Luxembourg’s secular law. Conflicts will arise, [...]

FedEx pleads not guilty to online pharmacy charges As reported by CNBC: "The shipping company is accused of delivering controlled substances and prescription drugs from illegal Internet pharmacies despite multiple warnings from government authorities, according to a 15-count indictment filed earlier this month. Instead of closing the pharmacies' accounts, FedEx is accused of changing the shipping account classification." says the article. For insiders, the possibility of government doesn't surprise anymore, since UPS got under similar scrutiny last year. The general [...]

US Corruption investigation looks for part of $1 billion bribes in Luxembourg The Wall Street Journal reported today about the US Department of Justice's effort to seize $1 billion in bribes allegedly stemming from global telecom companies seeking licenses in Uzbekistan. The investigation has been underway at least since last year. A string of front companies close to the glamorous Gulnara Karimova, daughter of the immovable President of Uzbekistan Islam Karimov were used in the operation. Members of the excellent [...]

US-Luxembourg FATCA treaty signing ceremony Embassy report: On Friday (note: March 28) Ambassador Mandell and Finance Minister Gramegna signed The Foreign Account Tax Compliance Act, or FATCA, an agreement which introduces reporting requirements for foreign banks with respect to certain accounts held by U.S. taxpayers. This reporting will help increase transparency and reduce tax evasion. According to Ambassador Mandell, "By working together to detect, deter and discourage offshore tax abuses through increased transparency and enhanced reporting, we can help to [...]