The Campaign Crisis: MPs and their Mishaps
The Campaign Crisis: MPs and their Mishaps : As election day looms, we look back at what has been a tumultuous campaign for MP candidates from all parties. As is becoming the norm in British politics, online blunders and revelations have once again ended several political careers. In a previous blog post we highlighted the mistakes made by Change […]
Sharing is Caring. Right?
Sharing is Caring. Right? The emergence of sharing economy companies, such as Uber, Airbnb, and Bolt has brought a question mark around the level of due diligence conducted on service providers. Does the very nature of the sharing economy, which has called into question the regulatory system surrounding it, provide a platform for crimes to […]
Assurance for the Insurance Sector: SMCR and beyond
Assurance for the Insurance Sector: SMCR and beyond Today the Bank of England tells insurance companies to improve their working cultures after revelations about sexual harassment and bullying in the industry. The Prudential Regulation Authority has flagged recent instances of alleged abuse as of “deep concern” and said bad behaviour could result in senior managers being banned […]
Planet Compliance shine the business spotlight on Neotas
From our vision to traction, Planet Compliance shine the spotlight on Neotas. What can you tell us about your company and your products & services? Neotas is an online due diligence company. We provide deep insight on risk by interrogating social media, the deep and the dark web. We help our clients reduce fraud, avoid bad hires and […]
CVs don’t provide the full picture: lessons learned
As a recruiter, how often do you question a candidate’s accolades and accomplishments? In the case of Ms. Antoniadou, it seems this all happened too late. The story hit the press earlier this year and the case raised a few important points for hiring managers and recruiters when screening candidates. Exaggerating credentials and overinflating accolades is […]
Putting the “Intelligence” back into AI
Putting the “Intelligence” back into AI : Artificial Intelligence (AI) has transformed our daily lives to drive better customer experiences, from connected home devices to retail experiences. But what will it take to unlock the power of AI in the commercial due diligence process? | 1 in 3 said the ability to harness the information with […]
Knock knock. Who’s there? Passport programme in the Pacific faces criticism
Passport programme in the Pacific faces criticism The citizenship programme in Vanuatu was launched in 2016 and since then, it has raised more than $200 million in government revenue. 1,800 passports were handed out in 2018 alone and the scheme generated a THIRD of government revenues last year. But what has the fallout been? Concerns […]
As the FCA becomes more data driven…are you increasingly at risk?
Data Driven FCA As we approach the anniversary of the FCA’s first published set of aggregated results, it is a good time to review what that means for risk managers across the UK and Europe. Based on its annual financial crime survey of over 2,000 firms, firms may find the insights helpful as the data enables a comparison […]
A Stewards Enquiry for Investment Due Diligence?
A Stewards Enquiry for Investment Due Diligence? On Wednesday 22 May, Neotas hosted a networking evening with clients, peers and partners from across the Investment and M&A world. The evening began with an engaging panel discussion led by guest panellists, Dr. Mike Hicks of Catalysis Advisory, Carrie Osman of Cruxy & Company, and Nicholas Nicolaides […]
Political Parties & Public Faux Pas
Public Faux Pas One of the longest standing traditions in British politics is public faux pas, often in the form of controversial, ignorant or downright outrageous statements made by Members of Parliament. In the past, apart from the most egregious of quotes, MPs only had to survive the embarrassment of the weekly news cycle before […]
Neotas join fight To prevent human trafficking
Modern Slavery and human trafficking are some of the most widespread crimes in the world. An estimated 40.3 million people are victims of human trafficking, with 24.9m of these estimated to have been exploited for labour and 15.4m in forced marriage (according to the International Labour Organisation). STOP THE TRAFFIK plays a central role in spreading […]
Is it time to get your act together online?
Is it time to get your act together online? Recent news has covered a string of incidents involving public figures in relation to their activity online. Yesterday, an actress was fired by a TV soap series due to historic and offensive tweets. What she had shared on a computer screen led to the producers taking […]
Hey, teacher, leave those kids alone!
Abuse of children A recent story highlighted the need to constantly maintain and review safeguarding controls. An associate head teacher admitted to the crimes of gathering over 2000 images showing the sexual abuse of children, as well as owning Class A drugs. It is reported that the recruitment process at the time acted in accordance […]
Part 3: How do we measure Culture?
In PART 2 of the Courage, Culture and Conduct series, Patrick Butler shared his views on courage as the foundation of a value-focused culture >> READ HERE The question we are most often asked at the Conduct and Culture Academy (CCA) is, “how do you measure behaviour, given it is subjective and nebulous?” Delegates often comment that this […]
Part 2: Courage as the foundation of a value-focused culture
In PART 1 of the Courage, Culture and Conduct series, Patrick Butler shared his views on overcoming the fear factor to drive success. >> READ HERE PART 2: Courage as the foundation of a value-focused culture Cognitive bias can cause fear of new ideas and new ways. We see examples of specific behavioural models (Confirmation bias, […]
Seaborne Freight: the deal fraught with red flags
At the end of 2018, a £13.8m contract was awarded to a ferry company, Seaborne Freight, in preparation for the potential consequences of a ‘no-deal’ Brexit. The company is expected to run ferry services between Ramsgate and Ostend from March onwards. However, in a very public outing, it was revealed that there was a string […]
Part 1: Fear as an Impediment to Success
The behavioural theories that underpin the regulators’ approach to mitigate misconduct, are also fundamental to driving success. If we focus on the behaviours that drive value in the long term, this will align interests of employees, managers, boards and shareholders with those of customers and simultaneously crowd out misconduct. This long-term focus critically changes leaders’ priorities. It […]
OSINT meets AML: How OSINT and AML Synergize in the Evolving Banking Landscape
How OSINT and AML Synergize in the Evolving Banking Landscape Between 2-5% of the global GDP is laundered globally in one year, amounting to approximately $2 trillion in current US dollars, according to an estimate by the United Nations Office on Drugs and Crime. In the UK alone it is estimated that British banks spend £5bn […]
Due Diligence, Facebook has sent you a friend request.
Facebook’s meteoric rise as the social media platform of choice in the late 2000’s and early 2010’s paved the way for the integration of social media into modern life. Suddenly the online world wasn’t just for you and your friends but your parents and grandparents too. For many, Facebook was the perfect vessel to share […]
A Fresher Take on Online Security
For many students across the country (including myself), an exciting new chapter of our life is about to begin as we head off to University. Anticipation builds as the day’s countdown to the infamous “freshers’ week”, and we are constantly reminded of the dangers that could arise once at University. But, while still in the […]
A career which failed to launch
In the news this week: ‘NASA Intern loses job after accidental profanity-laced tweet to space council fellow’ In the never-ending series of social-media faux pas affecting an individual’s employment opportunities, the news which broke this week from NASA is perhaps the most bizarre yet. After receiving an offer of an internship at the space agency, a woman […]
For the Greater Good: OSINT on the Rise
The Open Source Intelligence (OSINT) market has grown significantly in recent years and is anticipated to grow over the forecast period 2018-2023, according to a recent study by Crystal Market Research. OSINT’s interoperability across various markets allows clients from all over the world to apply it flexibly. It has been predominantly used in human intelligence […]
Backing the Right Horse
We were lucky enough to have our Neotas Summer party at Sandown races last night and with this came the realisation of the difficulties in backing the right horse. But how can horse racing be linked to the world of investment and due diligence? When the horses are walked round the paddock, there isn’t […]
Something fishy…
With my office circling for a blog this week, I decided to bite and to put a different kind of fin in fintech. So here it is, a blog that I can really get my teeth into. No fin can stop me now. Oh this is about to be so bad… This week is Shark […]
Know Your Islanders
After 2 months of grafting, heart break, doing bits, questionable loyalty and copious amounts of sun burn, Love Island is now drawing to a close. As the remaining couples fight to reach the final, they remain oblivious to the month-long heat wave, England reaching the World Cup Semi-Finals and the extra juicy information the whole […]
Work experience at Neotas
Work experience at Neotas During my work experience, I have learnt a lot about Neotas. You can find far more information than I thought you could on social media and on publicly accessible data. I’ve also learnt that they do investigations on people and companies to check if they are reputable and eligible for jobs […]
Dark Web Enlightenment
News broke last Friday of the arrest of a senior programmer from Israeli security firm, NSO Group, the company behind the infamous mobile spyware Pegasus. Allegedly faced with termination, he attempted to sell stolen source and development code valued at hundreds of millions of dollars on the Dark Web. He was caught after a potential […]
What Is Supply Chain Transparency? Supply Chain Transparency using OSINT
Supply Chain Transparency using OSINT A Practical Guide to Modern Risk Detection and Compliance What Is Supply Chain Transparency? Supply chain transparency is the practice of systematically disclosing and tracking information about every actor, activity, and material across all tiers of a company’s supply chain. It involves not only visibility into direct suppliers (Tier 1) […]
The issue with supply chain transparency
It has been 3 years since the introduction of the Modern Slavery Act in the United Kingdom, and so far it has produced mixed results. Whilst the percentage of businesses unmasking slavery in their supply chains has risen, the act is still struggling to apply serious pressure to the global companies most at risk from modern slavery. […]
Neotas wins the World Cup
An England team picked by Neotas would win the football World Cup. It’s a bold claim, I know, but considering recent tournament attempts, you might as well hear us out. England have suffered from a team that never seems to gel. We have had plenty of brilliant players. The “golden generation” included some of the […]
UK Modern Slavery Act 2015: Compliance Essentials for UK and Global Businesses
UK Modern Slavery Act 2015 Ensure your organisation meets Section 54 obligations and prepares for future reforms with confidence. A clear guide to your legal duties, transparency obligations, and practical steps to mitigate modern slavery risks. Understanding the Modern Slavery Act: Background, Scope and Intent The Modern Slavery Act 2015 is a landmark piece […]
Robbed on and off the pitch
Like much of the world, the Neotas team is eagerly awaiting the kick off to the 2018 FIFA World Cup. Millions of fans from countries all around the world will be pouring into Russia to watch thirty-two teams battle it out for the most prized trophy in football. Instagram, Facebook and Snapchat feeds will soon […]
Penalties off the post: own goals on social media
In an increasing trend in British football, players are being reprimanded by the press and FA alike for historical activity on social media. In the most recent cases, the dubious online activity of a player has come to light only when they have made the news headlines for another reason – be it Shane Duffy dating Katie Price or Andre Gray’s first premier league goal – but has […]
A global problem: slavery in supply chains
Since before Neotas was Neotas, social responsibility has been central to our team. As such, we’ve developed relationships with several charities and volunteer groups. Of note, is our relationship with STOP THE TRAFFIK; a coalition which aims to bring an end to human trafficking worldwide. Three years ago, I started working for them as a […]
Sprinting Against the Criminals
From the 22nd to 24th May, the Financial Conduct Authority (FCA) for the United Kingdom held their 5th TechSprint at Canary Wharf. The theme of the TechSprint was Anti-Money Laundering (AML) and Financial Crime and following an emotive launch, the event kicked off with gusto and excitement. The event sought to increase understanding surrounding the […]
Is RegTech disruptive?
‘Trust is the currency of the future’, said Stuart Lacey, founder of Trunomi, at the ‘Let’s talk about RegTech’ event at Rise last night. The panel discussion centered on RegTech’s place in the world, how regulators function and meeting the challenges posed by regulation. Whilst trust in institutions was at the core of the discussion, […]
The 5th Pillar of AML Compliance – is there more data?
AML Compliance and Customer Due Diligence (CDD) The 5th Pillar of AML Compliance – is there more data? On May 11th, the four pillars of AML were joined by a 5th. The long-awaited legislation introduces the need to identify the beneficial ownership of legal entities for consumer due-diligence. As such, US financial institutions have introduced enhanced […]
The cost of doing nothing
The National Crime Agency released their National Strategic Assessment of Serious and Organised Crime recently, and they found that Fraud continues to be the most common form of crime in the UK, with over 3.4 million incidents recorded in the last financial year. The 2017 Annual Fraud Indicator (AFI) estimated that fraud cost the UK […]
World Password Day
World Password Day In an ironic twist of fate, Thursday’s “World Password Day” was marked with the news that the passwords for all Twitter users globally had the potential to be exposed after a glitch in the company’s encryption process. Breaches of online accounts and the leaking of personal details are becoming an ever more […]
Schrödinger’s Personality Traits
Schrödinger’s Personality Traits In 1935, Erwin Schrödinger stated that a cat, placed in a sealed box with a jar of poison, is thought to be both alive and dead. Only once the box is opened does the scientist know whether they have a healthy living cat or a lifeless corpse. Imagine each recruit to a firm carries with them a sealed box. […]
A Diet of Coffee and Cocaine
For the most part, due-diligence consists of checks against databases (Criminal records, Credit checks, Sanctions lists etc.). This form of structured information is only half the picture. Our innovative method of conducting enhanced due-diligence regularly leads to additional insights that change how business is conducted. In a recent case, an investment house was looking to […]
Entering the world of OSINT – Open-source intelligence for Business Risk Assessment
Open-source intelligence (OSINT) for Business Risk Assessment Last Friday marked the end of my second week as the newest member of the analyst team at Neotas. We use open-source intelligence (OSINT) to give businesses peace of mind about prospective investments and hires by going far beyond standard due diligence checks. As a Physics graduate, fresh […]
Instant-gram: The good, the bad and the ugly of instant updates
With social media comes the ability to share anything, from thoughts and opinions to holiday photos, in real time to – potentially – anyone with internet access. And while venting on Twitter or posting a photo to Instagram enjoying cocktails on a beach may seem innocent, the possible impacts of these are not always considered. […]
Are you Fit and Proper?
If you’ve read our previous blog about the real cost of a bad hire then you will know that when you fail to screen your employees properly you are putting your business at risk. But what about the Senior Management in your company? In March 2016 the FCA replaced the Approved Persons Regime (APR) with the Senior […]
The Bystander Broadcast
The recent Florida High School tragedy has caught public attention in many ways. In my view, one of the most profound elements of the event was the way it was initially reported to the public. School children filmed the incident on Snapchat thinking it was a hoax or safety drill. They weren’t to know that […]
Free private information give away!
Most of us are aware that if our social media privacy settings are not quite adequate, then our lives are open for all to see; whether it’s that drunken photo of you at university, the staff night out two years ago or maybe the questionable video of you dancing at your friend’s wedding. It doesn’t […]
What’s the real cost of a bad hire?
We have been asking a number of HR professionals this question recently, and there’s a host of different answers. Broadly it falls into the following; Direct costs of sunk hiring fees (approx. 20% salary), Sunk cost of salary of a poor or disruptive performer (ask yourself, how long does it take to work out they […]
Naughty or Nice?
As we rapidly enter the festive weekend, Santa and his elves are working to finalise exactly who belongs on those naughty and nice lists. Safe in the knowledge that everyone in our office is on the nice list (**awkward glance**) this got us thinking, imagine if Santa used Neotas to help him get through the […]
Automation vs. the Workplace
In early 2017, New Jersey implemented an algorithm: it generates a score and gives counsel to judges. The algorithm advises them as to whether they should grant bail to detainees. This process entirely replaces bail hearings. It’s possible for the judge to never see the subject they sentence, and to never to see the effect of their judgement. While this sounds dystopian I can recognise the benefit. An impartial, free from […]
Artificial Intelligence vs. the Analyst
In recent months, Artificial Intelligence (AI) has seen a vast increase into its efficiency and advancements. The benefits of developing AI are clear, with growing software developments that are designed to save time and money into businesses. Consequently, this leaves the question: are these innovations likely to replace human analysts? The rise of “machine learning” […]
