Tag: Beneficial Ownership

At the heart of financial transformations, CDI has emerged as an essential tool for banks to authenticate corporate entities efficiently and securely.

As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of technology.

Know Your Business (KYB) is a crucial process for verifying business entities during the onboarding phase, aimed at understanding risk factors, financial health, creditworthiness, and beneficial ownership.

The world of finance is on the brink of a significant transformation, especially for investment advisors in the United States. On February 15th, 2024, a pivotal announcement was made by the Financial Crimes Enforcement Network (FinCEN) that is set to redefine the landscape of anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance.

The European Union (EU) has made a significant leap forward in the fight against money laundering and terrorist financing with a provisional agreement on...

The European Union (EU) has recently made a significant stride in fortifying its defenses against money laundering and terrorist financing. A provisional agreement reached between the EU Council and Parliament introduces a comprehensive anti-money laundering (AML) package aimed at protecting EU citizens and the financial ecosystem.

Big changes are sweeping through Europe's financial landscape, thanks to the introduction of stringent Anti-Money Laundering (AML) laws. These new regulations are particularly significant for high net worth individuals (HNWIs) and businesses in the luxury sector. The mandate? Heightened vigilance and transparency in financial dealings, aiming to curtail the misuse of funds.

The Corporate Transparency Act (CTA) ushered in a significant shift in beneficial ownership reporting requirements starting from January 1, 2024. This change is more than a mere procedural update; it's a critical pivot in the financial regulatory landscape that demands attention and action.

The role of AI has ballooned in recent years, and the recent introduction of GenAI platform ChatGPT has seen the sector soar further.

Moody's Analytics recently put a spotlight on the ongoing ultimate beneficial ownership (UBO) rule enhancements in the Asia Pacific region.