The AMLCO, Reputation Risk and AML Scandals
Gustavo Fideney and Alvaro Ruiz Ostos conclude a two-part series with a discussion on the role of the anti-money laundering ...
Tag: KYC/know your customer
KYC or “Know Your Customer” is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship. The term is also used to refer to the anti-money laundering regulations that govern these activities. KYC processes are used by companies of all sizes when conducting due diligence for the purpose of ensuring their proposed customers, agents, consultants, or distributors are in compliance with anti-bribery laws.
Compliance Challenges Facing Businesses Amid COVID-19
The coronavirus crisis and general chaos of 2020 has created the perfect conditions for criminals to thrive. Opportunities are rife, ...
Anti-Money Laundering in Financial Services: A Primer
While AML and CFT aren’t necessarily simple matters, training on these topics can be made overly complex. Compliance pros Gustavo ...
Banks Set to Accelerate Digital Transformation in Response to COVID-19
COVID-19 has caused a significant shift in the way financial institutions are doing business. Fenergo’s Rachel Woolley discusses what they ...
Fenergo Launches Solution to Accelerate Small Business Emergency Loan Approvals
Cloud-based remote accounting opening solution aids small businesses in accessing Paycheck Protection Program (PPP) loans guaranteed by the Small Business ...
Automating KYC Compliance with Smart ID&V
As customers increasingly prefer to do their banking via smart devices, it’s time for banks to modernize their approach to ...
UBO Transparency, Capital Markets and Tighter AML Controls
Firms can’t afford to become complacent when it comes to AML compliance. encompass corporation’s Henry Balani comments on findings form ...
encompass corporation Analyzes AML Penalties
Over $352.5 million of fines handed out globally in last four months encompass corporation, a fast-growing provider of intelligently automated ...
How Customers are Moving to the Frontline in FinCrime Compliance
Financial crimes compliance has historically been solely the realm of banks and financial institutions. Sujata Dasgupta discusses how and why ...
Embracing Digital Transformation to Achieve Compliance and Improve Competitive Positioning
SEI’s Kevin Byrne on why it’s imperative for firms to consider how they use data if they want to remain ...
Refinitiv Unwraps Beneficial Ownership and Vessel Data to Support Improved Risk Management
Integration of data from Dun & Bradstreet and IHS Markit Maritime and Trade within World-Check One creates formidable resource in ...
How Shell Companies Might be Circumventing FinCEN’s Beneficial Ownership Rule
FinCEN issued the final rule on customer due diligence on the heels of the Panama Papers scandal, and we’re now ...
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