PSD2, or the Second Payment Services Directive, is a regulatory framework implemented by the European Union to govern payment services and providers within the EU and EEA. It aims to enhance the security of electronic payments, foster competition, and improve … Read More
Author Archives: Lauren Davison
Key steps in an effective AML process
An effective Anti-Money Laundering (AML) process is crucial for financial institutions and businesses to detect and prevent money laundering activities. In today’s complex and heavily regulated business environment, having an effective compliance process is paramount for the success and sustainability … Read More
Top money laundering red flags in the UK
Money laundering is a serious financial crime that involves disguising the proceeds of illegal activities as legitimate funds. In the UK, there are several red flags that financial institutions and authorities look for to detect potential money laundering activities. Some … Read More
How NorthRow is helping regulated companies to succeed
In today’s fast-paced and ever-evolving business landscape, regulated companies face numerous challenges in order to succeed while maintaining compliance with stringent regulatory requirements. The integration of advanced technology has become pivotal in streamlining operations and achieving growth without compromising on … Read More
What is a KYC check?
KYC stands for “Know Your Customer,” and refers to the process that businesses and financial institutions use to verify the identity of their customers or clients. The primary goal of a KYC check is to prevent identity theft, fraud, money … Read More
Using RegTech to develop a businesswide culture of compliance: how can it help?
Compliance is a continuous journey, not just a one-time tickbox. Using Regulatory Technology (RegTech) to develop a businesswide culture of compliance can provide numerous benefits for organisations. Leveraging regtech can significantly contribute to the development of a positive compliance culture … Read More
Who must firms register with for anti-money laundering purposes?
Anti-Money Laundering (AML) regulations are crucial for firms and the broader financial system for several important reasons. First and foremost for preventing criminal activities: AML regulations are designed to prevent businesses from being unknowingly involved in money laundering, terrorist financing, … Read More
What is a person with significant control (PSC)?
A person with significant control (PSC) refers to an individual who holds substantial influence or control over a company, either directly or indirectly. The concept of significant control is often used in the context of corporate governance and transparency, particularly … Read More
The importance of PEP screening and customer experience
In this article, we take a look at some of the key strategies and tactics to ensure the fine balance between the need for in-depth scrutiny of PEPs for AML compliance and the delivery of an exceptional customer experience. … Read More
Horizon scanning: what is it and why is it beneficial?
With new terminology and phrases being introduced daily in this digital world, we like to stay up-to-date with the latest trends. Horizon scanning is not necessarily new, however it is a more important and relevant practice than you may realise. … Read More