How Much Has Changed in AML & KYC Since Bernie Madoff Went to Prison?
In the 15 years since Bernie Madoff’s conviction for running the largest known Ponzi scheme in history, regulatory agencies have ...
Tag: Know Your Customer (KYC)
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.
Money Laundering Costs the Average British Household £255 Per Year, So Why Aren’t Financial Institutions & Regulators Doing More About It?
Lack of digital processes & staffing issues among UK’s hurdles
Higher Ed Has New Homework on Money Laundering
UK study shows that colleges and universities are woefully underprepared to recognize when they’re being used to clean dirty money
True Cost of Financial Crime Compliance Annual Report
Organizations prioritizing cost reduction while ensuring regulatory adherence Annual report True Cost of Financial Crime Compliance What’s in this report ...
As Sanctions Lists Grow, So Do Avoidance Schemes
‘Blocked’ entities increasingly using corporate bond measures to gain access to financial markets
War and the Changing Face of Financial Crime
Addressing London’s soft touch on dirty money
Research: KYC Reviews Cost $2,500+ Per Commercial Client
KYC-focused staffing levels drop 14%
After SEC Flags Compliance Failures, Broker-Dealers Can Follow These Practical Tips to Avoid Penalties
In zeal to land lucrative deals, don’t forget about AML & KYC requirements
AI Arms Race: Banking Industry, Cybercriminals Keep Trading Punches
Feel safe in the knowledge that you’re covered by KYC checks? Are you sure about that? An arms race of ...
FCA Review Promises to PEP up Global Banking
UK regulators are set to embark on a review of banks’ so-called PEP lists, rosters of people who, because of ...
Wildlife Trafficking & Financial Crime
Illicit wildlife trafficking is on the rise; what does it have to do with financial crime? Analysis Moody’s KYC Report ...
Fighting Money Laundering Starts With Customer, Supplier Onboarding
With signs that money laundering is on the rise globally, many companies will point to their AML programs and assume ...
