The crackdowns begin: governments and regulators wage war on dirty money and crypto abuse

Newly-elected FATF president T. Raja Kumar spoke in the summer about the need for G20 countries to step up implementation of regulation in the crypto-asset sector or ‘allow criminals to profit from these gaps, at the expense of governments and …

Gaps in customer due diligence procedures for South Africa’s financial institutions
How Can Firms in South Africa Protect Themselves From Financial Crime?

There are worrying gaps in the customer due diligence procedures in many of South Africa’s financial institutions according to the Financial Action Task Force (FATF). This blog explores the steps firms need to take to protect themselves from money laundering …

Financial Crime in Focus
News round-up: After years of regulation and guidance, are AML processes any more effective? 

A sensible approach or a missed opportunity? As we go to press, the UK Government has just published three key reports. One is a detailed response to the consultation launched last year seeking industry views as to how the UK’s …

Adverse Information Screening: Ep1 – The Smoking Gun

Financial Crime Compliance expert Nina Kerkez of LexisNexis Risk Solutions, talks to John Davies of Kompli Group about the latest Wolfsberg guidance on Adverse Media Screening and asks what companies should really be doing – and not doing – to …

7 ways challenger banks can rise to FCA’s call for more effective AML controls

In its latest reproach of the AML regulated UK financial service sector, the FCA recently published a report highlighting systemic failings among Fintechs and Challenger Banks to implement robust AML controls in line with money-laundering regulations.  Whilst some challenger banks …