Author Archives: Adam Holden

Anti-Money Laundering Verification and Shell Corporations

Anti-Money Laundering Verification and Shell Corporations

Anti-money laundering verification of shell companies is a challenge. Read our latest blog for best practice AML & CDD processes. Learn more. … Read More

compliance

The Challenge of Beneficial Ownership

Ultimate beneficial ownership has never been more challenging for regulated businesses. A maelstrom of activity has created the perfect storm for the fraudster to take advantage. With an increase of digital platforms; rising numbers of first-time investors; and financial markets hitting a number of highs, against a lag in financial firms adopting digital transformation, the criminals are having a field day. Read our latest blog to learn more.. … Read More

Building Societies Digital Transformation

Building Societies Digital Transformation

Digital transformation projects have been fast-tracked for Building Societies Learn more now. … Read More

How Exposed is Your Regulated Business to Periodic Review Risk?

How Exposed is Your Regulated Business to Periodic Review Risk?

It now appears inevitable that the global spread of COVID-19 will cause a severe, if hopefully short-lived, recession. All economic downturns prompt greater levels of fraud and money laundering activity. Compliance Officers will need to be on the lookout for warning signs of criminal activity and ensure that the undoubted pressures of the current crisis does not weaken their focus on compliance and proper risk management. In this blog, we discuss the issues facing compliance professionals and how, in the current environment, a compliance team can be more efficient. … Read More

6th Anti-Money Laundering Directive 6AMLD

6th Anti-Money Laundering Directive 6AMLD

Despite the ongoing pandemic and Brexit negotiations, the European Union’s (EU) 6th Money Laundering Directive (6AMLD) comes into effect on the 3rd December 2020. The new directive is designed to invigorate the anti-money laundering efforts of financial institutions by incentivising good practice throughout sectors open to abuse by money launderers. It offers broader liability and more clarity on the regulation, whilst increasing the severity of punishments for money laundering offences. With these tougher rules business leaders will have to take it seriously. Read our latest piece to ensure you are up-to-speed on the Directive’s requirements.
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How to Deliver Your KYC Remediation Project

How to deliver your KYC remediation project

The importance of KYC remediation cannot be underestimated. With regulation continuing apace many firms are sitting on outdated client data that can expose their business to reputational damage and commercial risk. Whilst KYC remediation is a necessary evil, it has traditionally been a compliance headache. In this blog, we explore how best to equip your business to deliver efficient KYC remediation projects that support compliance, sales and the business as a whole. … Read More

aml and brexit

Will Anti-Money Laundering Compliance Still Apply After Brexit?

On the 31st December 2020, the UK will no longer be a part of the European Union, with or without a trade deal agreement in place. Whilst we anticipate that Brexit will affect regulatory compliance for many sectors, the full extent of the impact is somewhat unclear until negotiations have been finalised. In this article, we discuss the potential influence of Brexit on AML compliance and the 5th and 6th Money Laundering Directive. … Read More

All-Time Spike in Commercial Lending: Minimise Your Risk and Ensure Profitable Lending

All-Time Spike in Commercial Lending: Minimise Your Risk and Ensure Profitable Lending

Commercial lending firms are bracing themselves for an increase in bad debt as the fallout from Covid-19 continues apace. In this blog we explore how lenders can minimise their risk and navigate their way to more profitable lending. … Read More

Digital Transformation Meets Regulatory Compliance

Digital Transformation Meets Regulatory Compliance

Business leaders often see digital transformation as a way to drive growth and streamline operations, whilst strengthening customer relationships. Sales and operational functions are often the first to see digital investment with compliance usually being the last. … Read More

cashless society

Will a Cashless Society Be the End of Financial Crime?

The pandemic has accelerated the transition to a cashless society as UK retailers have banned the use of cash in their stores and are only accepting contactless and credit card payments. It is a widely held belief that a cashless society could potentially decrease financial crime and reduce money laundering activity. In this article, we explore whether a cashless society could actually end financial crime or simply drive criminals to use more sophisticated digital methods. Learn more. … Read More