Tag: AML

Onfido unveils compliance suite: Streamlining global identity verification

Onfido, a global pioneer in automated identity verification, has launched the Compliance Suite to address the pressing need for a unified identity verification solution.

How EU’s latest AML laws impact HNWIs and property ownership

Flagright recently took the opportunity to explain how the new AML laws in the EU will impact high net worths and luxury ownership.

The pivotal roles of governance and risk assessment in BSA/AML and...

Governance and risk assessment are not regulatory checkboxes but the bedrock of a robust BSA/AML and OFAC compliance program.

The future of KYC: Adapting to new challenges in the banking...

Fenergo's recent webinar, 'KYC, AML, & Onboarding in 2023 – Were Lessons Learned or Do Old Habits Die Hard?', brought together compliance experts to delve into findings from research on over 1100 executives from global banks. This study, encapsulated in the report 'KYC in 2023', reveals a significant 17% rise in the average cost of KYC (Know Your Customer) reviews, accompanied by an 11-day increase in their duration over the past year.

Harnessing data retention for enhanced AML compliance strategies

In the battle against money laundering, the significance of data retention in anti-money laundering (AML) compliance is often underestimated. It serves as a fundamental...

Unveiling the shadow world: How art money laundering masks illicit wealth

Art money laundering refers to the concealment of the origins of illegally obtained funds through the purchase and sale of art.

US regulatory priorities in 2023 & the coming years

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three...

Navigating the complexities of adverse media screening in AML efforts

In a recent post by Moody's Analytics, the company explained how firms can uncover hidden risks with adverse media screening.
OneID receives full certification for KYC and AML use cases

OneID receives full certification for KYC and AML use cases

OneID, the UK's leading digital identity service, has reached a new milestone in the field of Identity Verification for Know Your Customer (KYC) and Anti-Money Laundering (AML).

The critical role of risk assessment in preventing financial crime

With the industry's focus on rapid growth and market domination, the critical role of risk assessment in preventing money laundering, terrorist financing, and other illegal activities is frequently sidelined. This negligence can lead to severe consequences, including regulatory fines and reputational damage, ultimately impeding a company's ability to compete.

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