With the global pandemic forcing many companies to rely on the digital world and its innovative technology, it is crucial that regulated businesses stay ahead of the criminals. The last 2 years have seen a record number of data breaches as the world shifted to the online space. So, it’s even more important that businesses adjust and enhance their compliance and risk management strategies to maintain resilience. In this blog we look at the challenges facing regulated business in 2022; and how digital transformation and new technology solutions can deliver corporate governance and compliant risk management operations. … Read More
Author Archives: Adam Holden
Accelerating the Adoption of RegTech
The ‘Kalifa Review of UK FinTech’ was conducted on behalf of The City of London Corporation, and at the behest of Her Majesty’s Treasury, and could not have come at a more opportune time. It raises many questions on how the UK can maintain its place as the world FinTech hub, especially in the wake of Brexit. In this article, I will delve into the issues raised in the report and propose potential solutions to these questions, from the perspective of an established and successful RegTech provider. … Read More
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
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
Continuous Compliance: Why KYC Isn’t Enough
For a moment, let’s imagine we have achieved the Nirvana state of functional, continuous KYC. Where does that get us? Because KYC files, of themselves, are useless. They always have been. … Read More
Building Societies Digital Transformation
Digital transformation projects have been fast-tracked for Building Societies Learn more now. … Read More
Achieving Continuous KYC Client Due Diligence
Know Your Customer (KYC) verification is a critical requirement for regulated firms, but right now, the processes are flawed. The cost of compliance is escalating; the time it takes to onboard and monitor clients is increasing and KYC periodic reviews are resource intensive and highly manual. In this blog we explore why firms should move towards a continuous KYC model to improve the customer experience, mitigate financial crime risk and increase operational efficiency. … Read More
Brexit, 6AMLD and the Future of UK Financial Crime
Nearly five years of preparation brings us to the point where there is more clarity about the UK’s regulatory direction as a nation now setting its own rules when it comes to anti-money laundering. Those of us involved in the prevention and detection of financial crime know that the fundamental work remains the same, but there are new opportunities, new threats and above all new rules and regulatory expectations that we need to be ready for. … Read More
The view of Compliance Trends 2021 from NorthRow
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
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