Tag: Compliance

MSB have emerged as a crucial part of the financial ecosystem, bridging a gap that once only traditional banks would fill.

Financial service providers, estate agents, and attorneys operating in South Africa face a critical challenge: aligning their processes with Directive 8.

A significant upgrade has been introduced to KYC Portal's application completeness feature, aiming to enhance the user experience.

Emojis, while being a widespread form of modern expression, can potentially cause legal problems for firms.

KYC Portal CLM has developed an approach that centres on the single customer view, streamlining the process of handling data.

In the ever-evolving landscape of financial crime, robust regulatory frameworks are indispensable.

In a recent post by Diligent, the company outlined the seven-step process to master the implementation of control and ensure security.

The final deadline for compliance with the UK Financial Conduct Authority's (FCA) new Consumer Duty is swiftly approaching in July 2023. The regulatory agency has been actively providing guidance, conducting multi-firm reviews, and sharing specific industry insights in the form of Dear CEO Letters to ensure that firms are adequately prepared for the implementation.

Compliance within the financial services industry has taken a new turn as online trading and the emergence of 'finfluencers' on social media platforms have magnified the risks of market manipulation. The shift in the landscape demands greater attention to the prevention, detection, and mitigation of market abuse.

The ongoing AI revolution is indisputably transforming risk management and customer identification processes (KYC), even though human input remains pivotal to these functions.