Tag: Due Diligence

In the ever-evolving landscape of financial services, maintaining regulatory compliance is not just a legal requirement but a strategic advantage. As financial institutions navigate...

The Inland Revenue Authority of Singapore (IRAS) has released the third edition of the Common Reporting Standard (CRS) e-Tax Guide on January 12, 2024. The guide is instrumental for Singaporean Financial Institutions (SGFIs), outlining the nation's adoption of CRS, and providing crucial guidance on compliance obligations under the CRS framework.

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.

On January 10, 2024, a pivotal shift in the UK's regulatory framework will unfold as the Money Laundering and Terrorist Financing (Amendment) Regulations 2023...

The United Kingdom has emerged as the global hotspot for shell company risks, according to the latest interactive research unveiled by Moody’s Analytics.

Ransomware threats continue to loom large despite forecasts of reduction, with private equity portfolio companies (portcos) finding themselves prime targets post-acquisition. Cyber risk specialists KYND delves into the issues to understand the elevated risks facing portcos and discover essential steps to fortify their cyber resilience.

In September 2023, the Financial Conduct Authority (FCA) provided fresh guidance about how to treat Politically Exposed Persons (PEPs). In response to this, businesses under regulation might find it beneficial to revisit their existing PEPs screening systems. This not only ensures alignment with the new directive but also makes certain that the screening process remains both effective and efficient.

Flagright recently detailed how financial industry companies can manage third-party risks in compliance solutions.

Final guidelines aimed at bolstering third-party risk management in banking organisations have been issued by a cohort of federal bank regulatory agencies. This initiative is designed to help such institutions better navigate the risks arising from relationships with third-party entities, with a particular emphasis on financial technology, or FinTech, enterprises.

RegTech startup Naq, an automated data compliance and due diligence platform, has secured $1.5m in its seed funding round.