Anti-Money Laundering (AML) registration and the subsequent regulations that firms must adhere to are crucial for firms and the broader financial system for several important reasons. First and foremost for preventing criminal activities: AML regulations are designed to prevent businesses … Read More
Author Archives: Lauren Davison
What is a person with significant control (PSC)?
A person with significant control (PSC) refers to an individual who holds substantial influence or control over a company, either directly or indirectly. The concept of significant control is often used in the context of corporate governance and transparency, particularly … Read More
The importance of PEP screening and customer experience
In this article, we take a look at some of the key strategies and tactics to ensure the fine balance between the need for in-depth scrutiny of PEPs for AML compliance and the delivery of an exceptional customer experience. … Read More
Horizon scanning: what is it and why is it beneficial?
With new terminology and phrases being introduced daily in this digital world, we like to stay up-to-date with the latest trends. Horizon scanning is not necessarily new, however it is a more important and relevant practice than you may realise. … Read More
Conducting a company director check: a checklist
As a part of the KYB (Know Your Business) process, identifying and verifying the company directors or UBOs (Ultimate Beneficial Owners) is an important step. Conducting a company director check is an essential part of due diligence when dealing with … Read More
7 reasons why tech-enabled compliance is a gamechanger
Today’s world is run by technology. In countless industries, technology is at the heart of processes and products enhancing customer experience with faster and more efficient results. Tech-enabled compliance is no exception, offering numerous benefits to organisations. Streamlining the onboarding … Read More
3 ways to ensure a fast and seamless onboarding experience
When onboarding new customers, the process can often be tedious and repetitive. For businesses that are regularly onboarding new customers, it is crucial to reduce abandonment and instil trust by providing a smooth, frictionless onboarding experience to KYC (Know Your … Read More
What is AML?
Anti-Money Laundering (AML) refers to a set of laws, regulations, and procedures designed to detect, prevent, and deter activities related to money laundering and finance terrorism. Money laundering is the process of making illegally obtained money appear legal by passing … Read More
Understanding the basics of Know Your Customer
KYC meaning Before we get started, it’s important to cover what KYC means. KYC stands for “Know Your Customer,” which is a process implemented by businesses and financial institutions to verify and gather information about their customers. The purpose of … Read More
Guide to identity verification in the UK
What is identity verification? Identity verification is a process used to confirm the identity of an individual or entity to ensure that they are who they claim to be. It is crucial in various contexts, such as online transactions, financial … Read More