Financial institutions face several AML compliance challenges, including resource limitations, regulatory changes, inefficiencies, data accuracy, and ongoing monitoring. NorthRow helps streamline processes, ensure compliance, and reduce risks with automation and real-time updates. … Read More
Client Onboarding
How to verify Ultimate Beneficial Owners (UBOs)
Identifying UBOs is crucial for transparency, anti-money laundering, and preventing fraud. Effective UBO verification involves thorough KYC/KYB processes, and tools like NorthRow simplify the identification of UBOs by uncovering complex ownership structures. … Read More
Facial recognition software explained
Facial recognition software is used to verify a person’s identity based on their facial features – but what exactly is it? … Read More
What is KYC due diligence?
Know Your Customer (KYC) ensures compliance by verifying identities, assessing risks, and enabling ongoing monitoring. Automated KYC enhances efficiency, reduces risk exposure, and improves customer experience, ensuring compliance with AML regulations effectively. … Read More
The importance of KYB checks: best practices for compliance
As financial crime threats evolve, so does the importance of conducting Know Your Business (KYB) checks. In today’s business landscape, regulatory bodies expect compliance officers to conduct a comprehensive KYB check for each company they onboard to ensure compliance with … Read More
5 benefits of online ID document verification in a digital age
ID document verification is an essential part of KYC onboarding, as well as when employers are verifying employee right to work ID&V. It’s a process that ensures a person is who they are claiming to be when required to open … Read More
Client onboarding brochure
NorthRow’s company and individual onboarding solutions enhance customer experience, increase sales and improve regulatory compliance. … Read More
What is the UK Digital Identity and Attributes Trust Framework from the DCMS, for digital identity certification?
The UK Digital Identity and Attributes Trust Framework, from DCMS (Department for Culture, Media and Sport) is a set of rules for digital identities, announced and developed since 2021. It provides a framework that organisations must follow to conduct secure, trustworthy identity and/or attribute checks when onboarding staff.
The framework was developed by the DCMS, in conjunction with the Home Office, alongside a Home Office review of the availability and ability of specialist technology to support digital Right to Work checks in the UK. … Read More
Adverse media screening for AML compliance
Adverse media screening helps identify customers linked to criminal activity, reducing financial, reputational, and regulatory risks. Automated tools enhance compliance by scanning global news, databases, and regulatory sources for potential threats. … Read More
A New AML Register for Property Firms: The Register of Overseas Entities
On August 1st, the UK Government released a new public property register to attempt to put a dent in the £100bn of ‘dirty money’ that gets laundered through the UK every single year. The Register of Overseas Entities requires any overseas … Read More