Tag: Financial Conduct Authority

NatWest Group has taken a firm step in tightening its internal communication protocols by blocking popular messaging services WhatsApp, Facebook Messenger, and Skype on company devices across the UK.

In July 2024, the FCA initiated a crucial dialogue within the financial sector by opening a consultation aimed at refining the treatment of PEPs.  According...

In a move to modernize AML/CFT frameworks, the U.S. Department of the Treasury's FinCEN has unveiled a proposal under the Anti-Money Laundering Act of 2020.

The global financial landscape is increasingly plagued by the complexities of financial crime compliance. As the severity of global money laundering grows, major financial...

The UK's financial services sector is set to reap significant benefits from the FCA's enhanced performance in its authorisation processes.

The Consumer Duty, introduced by the FCA, has notably heightened consumer protection standards within the financial services sector. According to FullCircl, as we passed...

The battle against financial crime is ongoing and complex, with Know Your Customer (KYC) protocols at the forefront of safeguarding compliance and securing business operations.

The FCA has recently completed its review on how PEPs, including Members of Parliament, public servants, and their relatives and close associates (RCAs), are handled by financial services.

The Financial Conduct Authority (FCA) has recently mandated that financial institutions, including banks, payment firms, and lenders, enhance their protocols to ensure fair treatment of politically exposed persons (PEPs).

Customer Due Diligence (CDD) stands as a cornerstone in the ongoing battle against money laundering and terrorist financing. It compels regulated entities to collect and verify personal details—name, address, date of birth, and government-issued identification—from customers to authenticate their identities and assess potential financial crime risks.