Earlier this month, the Solicitors Regulation Authority (SRA) unveiled its 2024-25 Business Plan, outlining its strategic priorities for the year ahead. Aimed at improving standards and safeguarding the public, the plan focuses heavily on risk-based regulation, better use of data, … Read More
Author Archives: Natalie Davies
Starling Bank’s £28.9m wake-up call: Lessons for compliance teams
This week, the FCA imposed a near £30m fine on Starling Bank for what it described as ‘shockingly lax’ financial crime controls that left the bank vulnerable to criminal activity. The UK-based digital challenger bank launched in 2016 and quickly … Read More
6 tips to manage false positives and improve AML accuracy
In the world of Anti-Money Laundering (AML) compliance, one challenge stands out as a persistent and costly drain on resources: false positives. For compliance leaders in regulated firms, managing these false alerts can feel like a never ending challenge, investigating, … Read More
The hidden dangers of shoddy AML data coverage
In Anti-Money Laundering (AML) compliance, where every decision can have extensive consequences, there’s one critical factor that often flies under the radar: the quality of your AML data coverage. And the stakes are high. Using inaccurate or incomplete data during … Read More
How to identify and reduce the risk of AML fines and inefficiencies
There is a fine balance between driving revenue, ensuring compliance, and maintaining operational efficiency in regulated firms. Nowhere is this truer than in the area of Anti-Money Laundering (AML) compliance, where the stakes are high. The regulatory landscape in the … Read More
6 AML compliance mistakes you didn’t know you were making
Compliance teams in regulated firms face a constant balancing act of staying efficient while ensuring Anti-Money Laundering (AML) procedures are comprehensive enough to prevent financial crime and mitigate undue risk. The pressure is constantly on to streamline processes, minimise errors, … Read More
5 essential steps for AML compliance in global business growth
For many firms, expanding into new markets offers huge potential for growth. With every new country comes a fresh pool of customers, greater revenue potential, and the chance to become a global player. But with great opportunity comes significant risk … Read More
The biggest AML blunders: 5 case studies and lessons learned
A closer look at some of the biggest AML failings of recent years and how these headline-making cases became a stark reminder of the critical importance of robust AML practices. … Read More
5 manual KYB processes that shouldn’t exist in 2024
In today’s modern, tech-driven world, manual Know Your Business (KYB) onboarding processes belong in the past. Not only are they costly, but error-prone, and risky. While there is no questioning the importance of KYB checks, the growing complexity of regulations … Read More
The NCA’s National Strategic Assessment: Essential AML takeaways
Yesterday, the National Crime Agency (NCA) released its latest National Strategic Assessment (NSA), providing a comprehensive analysis of the current state of serious and organised crime in the UK. This year’s report highlights a growing threat from drug-related crimes, with … Read More