2022 saw significant developments in compliance, from sanctions and AML fines to digital transformation. Key topics included KYC, UBOs, right-to-work checks, and regulatory challenges, driving innovation and strengthening compliance practices. … Read More
Author Archives: Natalie Davies
Wired-In Webinar: The Future of FinTech: Trends Defining 2023 and Beyond
We were delighted to be joined by the Marc Meyer, Senior Director of Product at Crowdz on the second instalment of our brand new webinar series, Wired-In. In a thought-provoking session, Marc shared his insights on the future of fintech and the … Read More
The importance of KYC remediation
Know Your Customer or KYC, is a critical part of anti-money laundering protocols. In a bid to reduce the risk and incidence of financial crime, financial institutions and regulated businesses must undertake a comprehensive checking and verification process for the entities with which it does business. As part of this process, meeting, and continuing to adhere to, the latest regulatory requirements is critical. KYC remediation ensures that each customer’s anti-money laundering risk is assessed in a timely manner and assigned risk ratings are updated based on the changes in KYC regulations. … Read More
The crucial role NorthRow plays in the payments industry
Anti-Money Laundering (AML) requirements are increasingly stringent for payment processors. It’s critical that firms understand their obligations. But also, how collaboration between the front, middle and back office should not be a blocker for the business. … Read More
Wired-In Webinar: Insider Fraud – The Post-Covid Aftermath
We were delighted to be joined by the Head of Financial Crime Operations at Ziglu, Claire Maillet on the very first of our brand new webinar series, Wired-In. In a thought-provoking session, Claire shared how the cultural shift of remote mass working has created the highest rates of insider fraud in recent history, with the landscape calling for long-term strategies to address the matter. … Read More
Compliance by numbers: 11 eye-opening stats you need to know
The compliance landscape is constantly changing, and developing a compliance programme that can adapt to those changes is one of the key challenges professionals are facing. The demand for compliance officers, MLROs and AML officers is growing; spending on compliance … Read More
Right to work software: 7 reasons to adopt & factors to consider
From October 1st 2022, new UK legislation came into effect for how businesses check their employees’ Right to Work. The new UK Digital Identity and Attributes Trust framework from the DCMS (Department for Culture, Media and Sport) states that businesses are only able to hire applicants by meeting them face-to-face; by using technology for ID validation; or the Home Office online service, to check onboarding documents. … Read More
What is the UK Digital Identity and Attributes Trust Framework from the DCMS, for digital identity certification?
The UK Digital Identity and Attributes Trust Framework, from DCMS (Department for Culture, Media and Sport) is a set of rules for digital identities, announced and developed since 2021. It provides a framework that organisations must follow to conduct secure, trustworthy identity and/or attribute checks when onboarding staff.
The framework was developed by the DCMS, in conjunction with the Home Office, alongside a Home Office review of the availability and ability of specialist technology to support digital Right to Work checks in the UK. … Read More
Right to work: a checklist
UK employers must verify and record employees’ immigration status to ensure compliance with Right to Work legislation. … Read More
What are the consequences of inadequate right to work checks?
UK employers must conduct accurate Right to Work checks to prevent illegal employment. Common mistakes, confusion, and non-compliance risks can lead to significant fines or jail. Technology streamlines compliance, reducing errors and penalties. … Read More