Day: December 22, 2022

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Quantexa Positioned by Global Risk Analyst Firm Chartis as a Category Leader in 2023 RiskTech 100 Report for Trade-Based Money Laundering Solutions

Chartis also gave top ranking to Quantexa’s Entity Resolution solution – addressing key data management challenges that are costing financial institutions millions

LONDON, Dec. 22, 2022 (GLOBE NEWSWIRE) — Today Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced that their Decision Intelligence Platform has been recognized as a category leader in the Chartis RiskTech100 report for Trade-Based Anti-Money Laundering Solutions (TBAML). Quantexa’s Decision Intelligence Platform has also been recognized by Chartis as a category leader in the recently released Chartis Financial Crime Risk Management Systems, Entity Management and Analytics Quadrant report.

RiskTech 100: Trade-Based Anti-Money Laundering Solutions
The 2023 RiskTech100 report ranks the world’s major players in risk and compliance technology. In the Trade-based money laundering (TBML) category Quantexa was named as a category leader for data support of their enterprise solution. The Quantexa Trade AML Solution was also ranked for depth of typology coverage, breadth of analytical techniques and workflow.

Today’s Anti-money laundering efforts face many growing and unresolved challenges. In a digital and globalized world, criminals are using a wide range of strategies to be successful – making context a critical factor in the ability to accurately detect trade-based money laundering. By unifying internal and external data sources and scaling to understand billions of transactions, Quantexa’s Decision Intelligence Platform helps organizations create a holistic view of transactional, customer, and counterparty information. Quantexa’s approach to TBAML provides more accurate and efficient detection so organizations can reduce risk, assure compliance, and protect their reputation. Increased alert quality and automation, combined with reducing the volume of false positives helps organizations gain efficiencies and do more with the resources they already have.

Financial Crime Risk Management Systems: Entity Resolution
Quantexa’s dynamic Entity Resolution Solution capability that is a critical part of its industry leading Decision Intelligence Platform was recognized for coverage, scalability, data enrichment, depth and breadth of data sources supported.

Quantexa’s Entity Resolution Solution is an advanced data matching capability that connects disparate and ambiguous internal and external data at scale. Entity Resolution creates focused and complete views of people, organizations, places, and other data delivering game changing data quality and match rate accuracy. Quantexa also supports ‘dynamic entity resolution’, which gives unique flexibility across multiple use cases and informs granular and extensive security protocols.

Decision Intelligence Platform
Quantexa’s Decision Intelligence Platform gives enterprises the ability to unify their data by connecting siloed sources and systems, providing the context needed to visualize the complex relationships that enable previously hidden risk to be discovered. Quantexa’s unique entity resolution technology can connect the most disparate and ambiguous internal and external data at scale to create single, complete views of people, organizations, places, and other data with 99% accuracy, handling poor quality data with exceptional performance. The result is a single view of data that becomes their most trusted and reusable resource across the organization.

Chartis Chief Researcher Sidhartha Dash said:

“Quantexa’s increasingly mature solutions and their strong implementations in large financial institutions leveraging network-based concepts, drove their rise in the RiskTech 100 as well as their leadership in TBAML and Entity Management quadrants.”

Quantexa Chief Product Officer Dan Higgins added:

“Quantexa is delighted to be included in the RiskTech 100 report, positioned very strongly amongst an esteemed list of enterprise solution providers. At Quantexa, we are keenly aware that criminals are hiding in plain sight and that traditional monitoring systems and manual controls just can’t handle today’s complexity, scale of activity and the underlying regulatory shifts, in particular the focus on counterparty risk, as well as customers. The usage of contextual monitoring to detect and manage the holistic financial crime and fraud risks within International Trade, including the identification of prerequisites such as underlying collusion, the presence of shell companies and professional money laundering gatekeeps and enablers has been a defining factor in Quantexa’s success in this space.”

ABOUT QUANTEXA

Quantexa is a global data and analytics software company pioneering Contextual Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 500 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Washington DC, Brussels, Toronto, Singapore, Melbourne, and Sydney. For more information, contact Quantexa here or follow us on LinkedIn.

ABOUT CHARTIS

Chartis is a research and advisory firm that provides technology and business advice to the global risk management industry. Chartis provides independent market intelligence regarding market dynamics, regulatory trends, technology trends, best practices, competitive landscapes, market sizes, expenditure priorities, and mergers and acquisitions. Chartis’ RiskTech Quadrant reports are written by experienced analysts with hands-on experience of selecting, developing, and implementing risk management systems for a variety of international companies in a range of industries, including banking, insurance, capital markets, energy, and the public sector.

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SARS seize R3m counterfeit shoes at Lebombo border post

Customs officers of the South African Revenue Service (SARS) have seized possible counterfeit shoes with an estimated value of R3 million.
The haul was made by officers from the Customs Detector Dog Unit (DDU) at the Lebombo border post at the weekend.
SARS in a statement said the officers searched a truck with two trailers entering South Africa.
“The DDU found 5237 pairs of various branded (possibly counterfeit) shoes and sandals. The items were found loaded in the back of the trailers of the truck.
“The shoes were handed over to the South African Customs State Warehouse for further processing and engagement with the relevant brand holders for confirmation of the authenticity of the items,” said the revenue collector.
SARS Commissioner Edward Kieswetter praised officers and the DDU for their vigilance in preventing illicit and counterfeit goods from entering the country.
“The lawful production of clothing and textile industry in the country needs to be supported and SARS has shown once again that it is playing its part to foster industrial growth and job creation,” he said.
Kieswetter added that SARS is determined to give meaning to its strategic objectives of making non-compliance hard and costly for any person who transgresses the law.
“While we have made it easy and simple to comply, we will not tolerate criminals and syndicates that impede the economic prosperity of our country and the well-being of our citizens,” he said.

Source: South African Government News Agency

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Springs man arrested for assaulting police officer

Police in Gauteng have arrested the man captured on a video circulating on social media assaulting a police officer in Springs, Ekurhuleni.
Gauteng police spokesperson, Brigadier Brenda Muridili, said the suspect assaulted the police officer following a confrontation during a routine patrol on Tuesday.
“The incident was recorded on video, which is currently circulating on social media.
“It is reported that two members on routine patrol came across about five people drinking in public. When the police warned them about public drinking, one of the men turned on the male police officer. The suspect then fled the scene. Back-up was called and the suspect was arrested later in the evening,” she said.
She said the suspect has been charged with assaulting a police officer.
“He will appear before the Springs Magistrates Court on Thursday,” Muridili said.

Source: South African Government News Agency

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South Africa: Pres Ramaphosa vows to unite ANC, tackle graft after re-election

JOHANNESBURG— South African President Cyril Ramaphosa vowed to unite the deeply-fissured African National Congress (ANC) and root out graft after the ruling party re-elected him as leader despite anger over a growing scandal.

Ending a five-day conference where the ANC’s rifts were on stark display, Ramaphosa said his first five years as party chief had been a “difficult journey”.

“We have encountered many problems, at times we have met fierce resistance,” he told an audience of more than 4,000 delegates.

“I see my task as uniting the ANC,” he said.

Turning to the corruption which has deeply stained the party’s image, he declared, “We either deal with this problem or we perish as an organisation.”

“We must show no money to those who steal money from the poor,” he said

Citing former Cuban leader Fidel Castro’s 1959 Havana entry speech, Ramaphosa posed the question to his party members, whether taking power was “just to be able to drive around in limousines, to own mansions and to live like kings?”

Ramaphosa, 70, secured a second term at the helm of the ANC after a bruising race against his former health minister, Zweli Mkhize.

He is being probed by the police and other agencies over the way he handled a burglary at his farm.

He allegedly covered up the theft of $580,000 in cash that was hidden under sofa cushions instead of reporting the loss to the authorities.

The ANC forced his predecessor Jacob Zuma to resign in 2018 over mounting corruption allegations.

Ramaphosa gained 2,476 party votes against 1,897 votes for Mkhize — a comfortable margin but one far smaller than would have been predicted only a few months ago.

His opening speech last week was disrupted by scores of delegates who heckled, banged on tables and chanted “Change! Change!”

On Tuesday, Ramaphosa recalled attempts during the conference “to provoke us.”

The vote outcome should be embraced by all, as “it’s the ANC that has spoken,” he declared.

Ramaphosa’s victory opens the way for him to a second term as South African president if the ANC win the next general elections, due in 2024. Under the constitution, the head of state is chosen by parliament.

But the ANC’s continued majority in the National Assembly is in doubt, given a slump in support.

In the last local government elections, it won less than 50 percent of the votes cast, a first in a history spanning more than a century.

Source: NAM NEWS NETWORK

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South Africa: Communities urged to exercise extra care amid heavy thunderstorms

PRETORIA— The Department of Water and Sanitation has urged the public to exercise extreme caution near bodies of water, as South Africa’s water levels rise due to recent heavy rainfalls experienced in most regions.

This follows the recent flash floods in Johannesburg, Gauteng, which resulted in some people losing their lives.

Department spokesperson, Wisane Mavasa, has called on communities to be vigilant during this period of heavy rainfalls, particularly those residing in floodplains or close to rivers, dams or streams.

“We have recently witnessed severe flash floods due to thunderstorms in Gauteng. We therefore appeal to community members to be extremely careful, especially those who reside close to bodies of water like dams, rivers and streams.

“This is also the jolly time of the festive season, when people will take their celebrations to places with water to cool themselves and for enjoyment. We also appeal to those people to exercise extreme caution, as we are experiencing rising water levels due to heavy rainfalls,” Mavasa said.

Meanwhile, the department said the rainy season has boosted water levels in the country’s dams, which were on a steady decline in recent weeks.

The weekly report issued by the Department of Water and Sanitation has indicated a sharp increase of water levels in the country’s reservoirs to 94.6% this week, compared to last week’s 91.6%.

“This is a huge improvement from last year’s 88.4% national average mark currently. Most of the country’s water supply systems have also steadily increased,” Mavasa said.

The biggest system in the country, the Integrated Vaal River System, which comprises 14 dams with catchments in four provinces, including the Free State, Northern Cape, Mpumalanga and North West.

The Kingdom of Lesotho, through the Lesotho Highlands Water Project, has increased from last week’s 99.5% to 102.3% this week, while the Polokwane Water Supply System has also increased to 105.7% this week, compared to last week’s 104.7%.

Water supply systems in the Eastern Cape have improved significantly. The Butterworth Water Supply System is still at high levels with 100.3% this week, a slight improvement from last week’s 100.0%.

Amathole Water Supply System has also risen sharply to 102.8% this week, compared to last week’s 98.9%. Only the Algoa Water Supply System is still at a very low level, registering 15.8% this week.

“Some water supply systems in the Eastern Cape are at their high levels but stagnant. Klipplaat Water Supply System, which supplies the Sarah Baartman District Municipality, is at its full capacity of 100.4%, an improvement from last week’s 100.2%.

“Eastern Cape water levels have experienced a slight increase, with the provincial water storage level at 77.6% this week, up from last week’s 76.8%,” Mavasa said.

Mavasa encouraged residents to use water sparingly, particularly in Nelson Mandela Bay, which faces a serious challenge of taps running dry due to dwindling water levels in the water supply system if there is no positive response from water users.

“Despite figures showing an improvement in the Eastern Cape, it is known that the province is experiencing water supply challenges, particularly in Nelson Mandela Bay.

“We continue to make an appeal to the community of Nelson Mandela Bay Metro and the surrounding areas to double their efforts to reduce their water usage and to save water,” Mavasa said.

She also urged consumers to continue using water sparingly, “despite the reprieve provided by this rainfall season, which resulted in high levels of water in the country”.

Source: NAM NEWS NETWORK

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Synchronoss Announces More Than 30 Million RCS-Based Messaging Subscribers in Japan

Leveraging the Synchronoss Advanced Messaging Platform, NTT DOCOMO, KDDI, and SoftBank Deliver Cross-Operator Advanced Messaging Service Enabling Users and Brands to Communicate, Interact, and Transact

BRIDGEWATER, N.J., Dec. 21, 2022 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (NASDAQ: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced a new milestone in Japan for its Synchronoss Advanced Messaging platform. In collaboration with mobile operators NTT DOCOMO, KDDI, and SoftBank, the Japanese consortium now supports 32.5 million subscribers of +Message, the cross-operator RCS service powered by Synchronoss Advanced Messaging.

The current milestone represents a 62 percent increase in subscribers since Synchronoss noted the progress of the Japanese consortium’s deployment of its Rich Communications Service (RCS) in November 2020.

Offering a feature-rich text messaging system, +Messaging allows Japanese users to communicate with friends and family, in addition to providing the capability to interact and engage with brands and businesses safely and securely.

The consortium’s +Messaging service is powered by Synchronoss Advanced Messaging, an end-to-end platform and mobile commerce suite that allows operators to deliver an advanced messaging ecosystem. Synchronoss Advanced Messaging connects brands and content providers with subscribers, offering new ways to communicate and transact commerce.

“The adoption of more than 30 million +Messaging subscribers in Japan further validates the value of RCS and how mobile operators can utilize it to offer new revenue-generating services,” said Yosuke Morioka, General Manager, Japan, at Synchronoss. “We look forward to working with NTT DOCOMO, KDDI, and SoftBank to explore additional market opportunities for this feature-rich technology platform.”

It is signification that +Message currently is available for all the mobile phone brands of the three operators and MVNO. In addition, it now supports public personal identification (JPKI) with My Number cards, allowing the users to open a bank account or use a credit card with easy and secure verification of the identity via +Message, delivering more engaging experiences within the mobile ecosystem.

About Synchronoss

Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. Learn more at www.synchronoss.com.

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