In an age of digital transformation, compliance professionals are faced with the immense task of conducting comprehensive KYC (Know Your Customer), Know Your Business (KYB), and AML (Anti-Money Laundering) checks on their customers. For a smooth, friction-free customer onboarding experience, … Read More
AML
Top money laundering red flags in the UK
Money laundering red flags include unusual transactions, unexplained funds, high-value cash, rapid fund transfers, PEP involvement, inconsistent documentation, and refusal to provide information. These require further investigation and potential reporting to authorities. … Read More
Adverse media: how and where to check for negative news
In this article, we look at what adverse media is, why it is important, and how to check your customers for any negative news. … Read More
Who must firms register with for anti-money laundering purposes?
Anti-Money Laundering (AML) registration ensures businesses prevent financial crime, comply with legal obligations, protect reputations, and manage risks effectively. … Read More
AML checks for estate agents: 10 steps to success
AML compliance in real estate is critical to prevent financial crime but can be time-intensive. Effective practices, including comprehensive verification, technology adoption, and ongoing monitoring, ensure compliance, streamline processes, and protect the property market. … 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
The FCA’s Business Plan 2023: a deep-dive into commitments, themes and metrics
This guide examines the FCA Business Plan’s key commitments, metrics, and focus areas, and its potential impact on regulated firms. … Read More
AML for estate agents: 4 compliance challenges and their impact on customer experience
This article explores the top four AML compliance challenges faced by estate agents in the UK and discusses the implications for customers. … Read More
Understanding key risk indicators (KRIs) in money laundering: identifying red flags
Key risk indicators (KRIs) help financial institutions detect money laundering by identifying unusual transaction patterns, rapid fund movements, structuring, high-risk customers, and suspicious behaviours, enhancing anti-money laundering frameworks. … Read More
The far-reaching repercussions of non-compliance with AML and KYB regulations
Non-compliance with AML and KYB regulations can lead to severe legal, reputational, and financial consequences, including fines, restricted access to financial services, and international sanctions, jeopardising business operations. … Read More