Marking the start of the parliamentary year, King Charles delivered the newly instated Labour government’s first King’s Speech to both Houses of Parliament last week. In a speech written by the sitting government, the King outlined the draft laws which … Read More
AML
5 key AML strategies for investment management firms
With the value of global assets growing rapidly and criminals looking to exploit every avenue to funnel dirty money, investment managers today face both evolving financial crime risks and increased regulatory scrutiny. The wealth and investment management industry is fraught … Read More
Striking the right balance: Streamlining AML compliance and onboarding efficiency
In the regulated investment management industry in the UK, anti-money laundering (AML) compliance is not merely a legal obligation but a strategic opportunity to improve customer experience and boost efficiency. And yet, compliance teams within these firms face a daunting … Read More
How to unravel complex corporate structures and unveil the truth behind international entities
In the highly regulated UK lending industry, the ability to understand and unravel complex corporate structures is crucial. Compliance teams are often tasked with the monumental job of ensuring that they fully understand the ownership and control structure of their … Read More
6 ways to continuously improve your KYB compliance processes
Maintaining a comprehensive Know Your Business (KYB) process is essential to ensuring ongoing compliance and mitigating any undue risk associated with financial crime, such as money laundering and terrorist financing from impacting your legal firm. Being proactive in your firm’s … Read More
How to mitigate KYB risks in your legal firm: practical strategies for compliance teams
In today’s legal landscape, compliance with Know Your Business (KYB) regulations is not just a statutory requirement but a strategic imperative. KYB measures are crucial in ensuring that legal firms engage only with legitimate entities, thus preventing fraud, money laundering, … Read More
How KYB compliance can give your firm a competitive edge
To some, Know Your Business (or KYB) compliance is viewed as a burden, a regulatory necessity, and a box to tick. However, when approached in the right way, KYB compliance can be transformed from a perceived obstacle into a powerful … Read More
Tackling the most common KYB challenges in legal firms
KYB (Know Your Business) is an important process as part of wider AML procedures in legal firms that involves verifying the identity and background of their corporate clients, suppliers, and partners. In order to comply with Anti-Money Laundering requirements, law … Read More
Maximising efficiency: The KYB process explained
The KYB (Know Your Business) process refers to the procedures and checks that businesses undertake to verify the identity and legitimacy of their customers or business partners. It involves gathering information and conducting due diligence to ensure compliance with regulations and mitigate risks. … Read More
Changpeng Zhao’s Sentencing: AML Compliance Challenges For Crypto
The founder and former CEO of Binance, Changpeng Zhao, better known as ‘CZ’, was sentenced to four months behind bars on Tuesday, 30th April 2024, after pleading guilty to money laundering offences he committed last year. Zhao is now the … Read More