What Companies Can Learn From 5 Recent Fines by Global Regulators for Alleged Money Laundering Alleged breaches of Anti-Money Laundering regulations are leading to increasingly large fines against companies, as we have shown over the course of this AML Risk series...
Prevent and Detect: How Companies Can Spot Money Laundering Before the Fine Companies are receiving ever larger fines for allegedly breaching anti-money laundering regulations–in fact, the total fines issued globally in 2022 was 50% higher than in 2021. As well...
Anti-Money Laundering regulations have changed rapidly in recent years–from Switzerland to Singapore, from Brazil to Bahrain. Building on our whitepaper, ‘AML Compliance: A Global View’, we identify and summarise four major developments which are driving regulatory...
In the complex landscape of UK compliance, understanding Politically Exposed Persons (PEPs) is crucial. PEPs are individuals who are or have been entrusted with prominent public functions, and due to their position and influence, they are potentially higher risks...
In today's rapidly evolving business landscape, the importance of Know Your Customer (KYC) checks cannot be overstated. KYC checks are a critical component of compliance strategies, designed to verify the identity of clients and assess potential risks of illegal...
The concept of "Know Your Customer" or KYC , at its core, is a process used by businesses to verify the identity of their clients. It serves as a critical component in financial systems, ensuring that institutions are not inadvertently facilitating illegal activities...
In an increasingly interconnected global economy, understanding global KYC (Know Your Customer) equirements is imperative for businesses worldwide, and especially in the UK. The evolution of KYC regulations reflects a concerted effort worldwide to counteract illicit...
The Importance of KYC in Crypto The cryptocurrency industry has experienced tremendous growth in recent years, transforming the way people transact and invest in the financial markets. With a multitude of digital currencies, blockchain projects, and innovative...
The UK Bribery Act 2010, which came into force on 1st July 2011, replaced legislation dating back to 1889 and affects all businesses operating in the UK. Offences The offences of giving and receiving bribes and bribing foreign public officials apply to all...