Compliance

Compliance (regulatory compliance) means conforming to comply with relevant laws and regulations. Together with KYC Spider in Zug Eurospider has in-depth compliance know-how.

Chains of trust play an important role in digital processes. Just like in everyday life, the question is: who trusts whom, and why? The relationship isn’t necessarily symmetrical: party A may trust party B, but B doesn’t necessarily trust A. However, the relationship usually is transitive: if party A trusts party B and party B trusts party C, then A can also trust C. These chains of trust also play an important role in the digital world

Automatically created documents play an important role in digitalized compliance processes. Publications are also created algorithmically outside of compliance processes. A well-known example is MIT’s fake papers, which were submitted to academic journals and, surprisingly, accepted [1]. On October 8, 2019, an employee of the Springer publishing house presented the first chemistry book written by a computer at a conference in Osnabrück. The book is not fake – it is intended as a serious publication. It cost EUR 100.99 on Amazon on the day of the conference, but can be downloaded free of charge as a PDF from the Springer website. One of the attendees did exactly that and checked whether the newly appointed Nobel Prize winners in chemistry appear in the Springer book.

In a recent expert article, we introduced the one-coin blockchain. According to FINMA Guidance 02/2019 [1], full identification will be requested from third parties in certain situations. How is this problem related to the one-coin blockchain? An understanding of this problem is important not least because the FINMA requirement is related to what is known as FATF Recommendation 16 [2].

Last Saturday, the NZZ wrote that “Three letters spell out one of the most popular trends in the world of finance: ESG” [1]. ESG stands for environmental, social and governance (ESG) criteria, with respect to pollution, human rights and transparent corporate management. Swiss politicians also deal with these three criteria, namely in connection with the corporate responsibility initiative [2]. The newly developed ESG RISK MONITOR detects relevant risks in multinational corporations, as well as for their partners and suppliers [3].

RobbySpider has been handling important compliance tasks, such as onboarding and risk verification in the KYC Toolbox since 2019. This is a good opportunity to have a look at the most notable chatbot predecessors to RobbySpider. First, we have the pioneer system, GUS [1], which was developed in 1977 on the legendary Xerox PARC [2]. GUS is based on what is known as a frame-driven dialog system. This principle of “frame-based slot-filling” is still relevant today and is used in Apple’s Siri, for example [3].

Complete Revision of the Federal Data Protection Act

The complete revision's draft of the Federal Data Protection Act is currently in political consultation. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparancy regarding the handling of confidential data.

Links: draft, report

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