ID&V applications have become indispensable tools for regulated firms, playing a vital role in safeguarding against financial crime. These applications streamline KYC processes by automating identity verification. … Read More
Author Archives: Natalie Davies
The EU’s Anti-Money Laundering Authority (AMLA) – what is it and what could it mean for AML compliance?
As the EU’s newly centralised force in overseeing anti-money laundering (AML) regulations, the AMLA will work to coordinate national authorities, directly supervise high-risk financial entities, and promote consistency in anti-money laundering practices across the Union. … Read More
The FCA’s latest ‘Dear CEO’ letter to firms and how to implement the recommendations
The UK’s Financial Conduct Authority (FCA) recently issued a ‘Dear CEO’ letter, highlighting common deficiencies in regulated firms’ anti-money laundering (AML) frameworks. Key issues include inadequate customer due diligence (CDD), insufficient risk assessments, lax ongoing monitoring, and inadequate employee training. … Read More
AI tops the list of biggest threats to regulated firms this year
A recent survey by NorthRow reveals that 55% of regulated businesses in the UK view artificial intelligence (AI) as their biggest threat for the year, followed by the evolving regulatory landscape (46%) and economic volatility (45%). The survey, which interviewed c-suite executives and compliance officers, also highlights that 39% of respondents see regulatory and political change as a major challenge. … Read More
The Economic Crime and Corporate Transparency Act: A guide to identity verification
In this article, we take a look at what this landmark legislation entails, the changes it will bring about, and its implications for accountancy firms in the UK. … Read More
The role of tech in improving AML processes: overcoming 5 key challenges
AML compliance faces growing challenges like manual processes, complex regulations, and cross-border transactions. Technology-driven solutions enhance efficiency, streamline due diligence, automate monitoring, and ensure compliance with evolving global requirements. … Read More
The three biggest challenges facing AML compliance teams in 2024
Our research reveals that AML compliance professionals face major challenges in resource capacity, regulatory changes, onboarding inefficiencies, and adapting to financial crime trends, requiring agility and investment in talent. … Read More
Infographic: Compliance trends in 2024
As the ever-present threat of money laundering, fraud, and financial crime continues to cast a dark shadow over entire financial systems, compliance and AML professionals continue to play a pivotal role in the war against financial crime. Did you know … Read More
3 AML compliance priorities for 2024
In 2023, professionals dealing with financial crime and AML compliance were busy handling geopolitical unrest, economic fluctuations, and evolving criminal tactics. In 2024, experts expect more regulatory changes, increased use of technology, and new methods to fight financial crime. As … Read More
State of compliance trends report 2024
Data from over 130 compliance professionals from across the country. Insights and predictions on everything from AI and automation to cybersecurity risks and priorities for the year ahead. … Read More