Marking the start of the parliamentary year, King Charles delivered the newly instated Labour government’s first King’s Speech to both Houses of Parliament last week. In a speech written by the sitting government, the King outlined the draft laws which … Read More
Regulatory Compliance
5 key AML strategies for investment management firms
With the value of global assets growing rapidly and criminals looking to exploit every avenue to funnel dirty money, investment managers today face both evolving financial crime risks and increased regulatory scrutiny. The wealth and investment management industry is fraught … Read More
Striking the right balance: Streamlining AML compliance and onboarding efficiency
In the regulated investment management industry in the UK, anti-money laundering (AML) compliance is not merely a legal obligation but a strategic opportunity to improve customer experience and boost efficiency. And yet, compliance teams within these firms face a daunting … Read More
7 ways to streamline KYB compliance processes for legal firms
KYB compliance is a critical task for every law firm, but it can often be a cumbersome and time-consuming process, especially for your fee earners carrying out checks manually on top of an already substantial workload. Manual KYB checks are … Read More
Maximising efficiency: The KYB process explained
The KYB (Know Your Business) process refers to the procedures and checks that businesses undertake to verify the identity and legitimacy of their customers or business partners. It involves gathering information and conducting due diligence to ensure compliance with regulations and mitigate risks. … Read More
Changpeng Zhao’s Sentencing: AML Compliance Challenges For Crypto
The founder and former CEO of Binance, Changpeng Zhao, better known as ‘CZ’, was sentenced to four months behind bars on Tuesday, 30th April 2024, after pleading guilty to money laundering offences he committed last year. Zhao is now the … Read More
What are the main types of financial crime?
Financial crime is constantly evolving, presenting new and increasingly complex challenges for compliance and counter-fraud professionals. In order to navigate these challenges, it is important to understand the various types of financial crime, the risks they pose and strategies to … Read More
What is fraud prevention and why is it important?
In today’s fast-paced and interconnected financial landscape, the risk of fraud looms large over businesses, threatening their integrity, financial stability, and reputation. For compliance professionals in regulated firms across the UK, the battle against fraud is an ongoing challenge that … Read More
The EU’s Anti-Money Laundering Authority (AMLA) – what is it and what could it mean for AML compliance?
In a bid to strengthen its defences against financial crime, the European Union has taken a significant stride with the establishment of the Anti-Money Laundering and Countering the Financing of Terrorism Authority or AMLA. As the “central authority coordinating national … Read More
The role of tech in improving AML processes: overcoming 5 key challenges
At a time when AML regulations are evolving on a near weekly basis, the importance of ensuring complete compliance with this legislation remains paramount for regulated firms in the UK. While manual compliance processes have been the norm for many … Read More