Ultimate Beneficial Ownership (UBO) data gaps, often caused by outdated or fragmented KYB processes, create significant AML risks. Automation and continuous monitoring are essential to maintain visibility and prevent compliance failures. … Read More
KYB
3 common Know Your Business (KYB) compliance pitfalls and how to avoid them
KYB remains one of the most error-prone compliance processes. This article explores three major pitfalls – data silos, one-off checks, and manual reviews – and offers practical steps to improve oversight and automation. … Read More
Barclays fined £42 million after failing to act on clear financial crime risks
Barclays fined £42 million for failing basic KYB and AML controls, highlighting urgent need for stronger client due diligence and monitoring. … Read More
How a manual KYB compliance process can hold your business back and what to do about it
Manual KYB processes create hidden compliance risks, fragmented data, and audit challenges that put firms at regulatory and reputational risk. Automation streamlines checks, improves visibility, and strengthens your defence against financial crime. … Read More
Remote onboarding made easy: Vet and verify directors in 5 steps [Infographic]
When onboarding new corporate clients, verifying directors isn’t just about ticking boxes – it’s about safeguarding your business and building trust from the start. But let’s be honest, compliance processes can feel overwhelming. That’s why we’ve outlined a straightforward approach … Read More
Remote director verification for KYB: What compliance teams need to know
Director verification is crucial for Know Your Business (KYB) compliance. Remote verification tools improve accuracy, prevent fraud, and streamline the process, helping firms meet regulatory requirements and reduce financial crime risks. … Read More
Modern tools and strategies helping companies identify UBOs in complex corporate structures
Identifying Ultimate Beneficial Owners (UBOs) is challenging due to complex corporate structures. Modern tools like RegTech, global databases, and automated mapping help firms meet regulatory requirements and reduce financial crime risks. … Read More
Identifying Ultimate Beneficial Owners: Why is it so challenging?
Uncovering Ultimate Beneficial Owners (UBOs) is a crucial part of tackling financial crime, but it’s not without its challenges. At the heart of these challenges are complex corporate structures. Shell companies, trusts, and multiple layers of ownership can easily hide … Read More
The top 10 indicators of potential hidden ownership and how to address them
Hidden ownership structures pose compliance risks; identifying red flags like complex structures, false documents, and offshore ties ensures regulatory adherence. … Read More
Spotting red flags in UBO identification
Identifying true business owners is critical for AML compliance. Discover six key red flags that signal hidden UBOs, exposing tactics like complex structures or false reporting used to mask illicit activities. … Read More