Tag Archives: KYC
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 …
Naturally, recent financial crime news has been dominated by the shocking invasion of Ukraine by Russian. Compliance teams in all sectors are now wading through the highly complex task of implementing extensive new sanctions measures imposed by the UK, EU, …
Are You Leveraging Innovative Tools that Detect Location-Based Sanctions Evasion? Russia’s invasion of the Ukraine has prompted a flurry of sanctions activity in the past few weeks. On March 7th, the Financial Crimes Enforcement Network (FinCEN) issued an alert advising …
Annual financial crime compliance costs in the U.S. are up 95% for mid/large financial institutions since the beginning of the COVID-19 pandemic to a total of almost $41 billion according to the LexisNexis® Risk Solutions 2021 True Cost of Financial …
“High and rising compliance costs, poor customer experience and burdensome AML regulation” – this was the hypothesis posed by the House of Lords’ Industry & Regulatory Committee on 6th July 2021. My response was simple – I don’t see the …