Overseas entities that own property in the UK were required, by the introduction of the Economic Crime (Transparency and Enforcement) Act 2022 (the ECTEA), to register their details, and those of all Ultimate Beneficial Owners (UBOs), on the register of … Read More
Author Archives: Chris Bourne
Managing regulatory compliance in the people services sector
Managing regulatory compliance in people services, with particular reference to recruitment and hospitality. … Read More
Managing compliance in the professional services sector
In the current regulatory environment, the pressure appears, on the face of it, to be targeted towards financial service firms. But that’s not what’s going on under the radar. Managing compliance in the professional services sector is equally difficult. … Read More
How to develop a compliance strategy that improves decision-making
Compliance is often seen as the ‘demon’ within regulated entities – the department that stops you doing things, costs a lot of budget, doesn’t produce anything and was imposed on you by the regulators! Well, if that is still the … Read More
Managing AML compliance in the property sector
Laundering money through property is a major problem. To avoid censure, fines and sanctions, property firms must have a robust risk assessment in place. They must have adequate processes to identify fraudulent activity, if the regulators come knocking. … Read More
Managing compliance in the financial services sector
There has been a continuous flow of publicity about huge fines levied by the FCA. These have mostly been against banks, for breaches of their anti-money laundering (AML) responsibilities. Some are for data breaches, whilst others relate to anti-money laundering … Read More
6 rewards of intelligent compliance and risk management
Intelligent compliance and risk management rewards … Read More
8 compliance trends and predictions for 2023
The last few years have been difficult to predict when it comes to looking at compliance trends. From the fallout of the pandemic and Brexit, to the war in Ukraine; it has been a tumultuous time for regulated businesses. What’s … Read More
Automate your legal firm’s customer due diligence
Legal firms must ensure they know who their clients are and that it’s safe to do business with them. The purpose of such due diligence is to identify potential money laundering and the risk of terrorist financing. Under regulation 27 … Read More
8 barriers and benefits for proactive KYB and KYC
KYC (Know Your Customer) and KYB (Know Your Business) are not one-hit processes for simply onboarding your customers at the outset of your relationship. In this eBook, we look at barriers and benefits of a proactive approach to continuous KYC/KYB. … Read More