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Nov 09 2023 illion Transaction Risk Score blog
The illion Transaction Risk Score (iTRS) assesses an applicant’s bank transaction data to provide a fresh and unique insight into their financial behaviour.
This solution is the most significant enhancement to data-driven risk management since the introduction of Comprehensive Credit Reporting.
Both lenders and consumers can stand to profit through better credit underwriting, more effective loan pricing… -
Sep 04 2023 What is biometric authentication
Biometric authentication is a secure personal identification process that uses our unique physical or behavioural characteristics to prove we are who we claim to be.
The terms biometric authentication and biometric verification are synonymous and are often used interchangeably. Both involve the comparison of characteristics against a template or record, for example, a selfie or photo… -
Apr 13 2023 LGAs with the highest probability of business failure in Australia
Western Sydney the canary in the coal mine for commercial insolvencies and economic recession in 2023. Victoria’s Hume and Wyndham not for behind. Perth doing best.
11 April 2023: Businesses across the country are starting to feel the squeeze as consumer financial strain trickles down into business performance.Credit bureau illion has released new data on the…
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Feb 15 2023 5 questions to consider about PEP and sanctions screening
Recently, the Australian Sanctions Office (ASO) notified the public about the amendments to the Consolidated List. The Consolidated List got lengthier with the inclusion of a few more individuals and entities as a result of changes made to the United Nations Security Council Resolutions 1267 (concerning ISIL (Da’esh), Al-Qaida and associated individuals), autonomous sanctions on…
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Feb 15 2023 5 ways perpetual KYC improves AML monitoring outcomes
Financial institutions have an obligation to continuously monitor transactions and escalate suspicious matters to the Australian Transaction Reports and Analysis Centre (AUSTRAC).
This can be challenging if you have limited resources.
Further, if your organisation relies on traditional periodic Know Your Customer (KYC) reviews, you may not achieve the results you need to make key risk management…
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Feb 06 2023 Q&A video: Minimising the risk of identity theft
According to the Australian Institute of Criminology, the annual economic impact of identity crime exceeds $2 billion, with 1 in 4 Australians falling victim at some point in their lives.
To minimise the risk of identity theft, it is critical for businesses to know who their customers really are. illion’s KYC, Financial Crime & AML Solutions specialists Peter…
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Dec 14 2022 Q&A: Minimising the risk of identity theft
In this interview, KYC, Financial Crime & AML Solutions specialists Peter Chan and Simo Buzanin share some key insights around how illion can help you minimise the risk of identity theft.
According to the Australian Institute of Criminology (AIC),the annual economic impact of identity crime exceeds $2 billion, with 1 in 4 Australians falling victim at some… -
Nov 21 2022 Five important steps to safeguard your business from identity theft
In light of recent data breaches that have now (unfortunately) become commonplace, this week’s International Fraud Awareness Week 2022 couldn’t have come at a better time.
Business that are custodians of customer and employee data must take important and practical steps to prevent hackers from accessing this information.
Our video will help you with understanding what you…
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Nov 21 2022 The new Dual Score Report
Evaluate credit risk with more detail and insight
By providing both our Risk of Failure score and Risk of Late Payment score, as well as information on trade payment history, business names and corporate structure, our new Dual Score Report delivers a very comprehensive view of risk.If you don’t require financials, which not every client needs…
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Oct 27 2022 AML – CBM Analysis: High Risk Countries
Cross-border movement (CBM) of physical currency (carrying) is one of the top Anti-Money Laundering (AML) risks that any business may be exposed to.
Findings just released by illion have revealed which countries over the past 3 financial years have been deemed to be most at risk due to strategic AML and Counter-Terrorism Financing deficiencies, corruption and…