Tag: Politically Exposed Persons

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...

KYB, or Know Your Business, is an essential process for businesses engaging with other companies. It serves as the backbone of safe, compliant third-party relationships, enabling firms to assess and manage potential risks before formalizing business agreements.

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).

Politically Exposed Persons, or PEPs, are those who occupy prominent positions in public offices, potentially including roles in government bodies, international organisations, or significant corporate entities.

Know Your Business (KYB) and Anti-Money Laundering (AML) are critical parts of the compliance ecosystem, but how aligned are they? FullCircl, a SaaS platform...

Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering (AML) compliance software, emphasises the critical importance of accurately identifying and screening PEPs before any business engagement.

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...

Swiss authorities recently took action against the daughter of Uzbekistan's former president, accusing her of crimes such as money laundering and bribery. This resulted in an asset freeze to the tune of $483m.

The world of global finance comes with its share of dangers. From the looming shadows of money laundering to the menace of terrorist financing, safeguarding transactions is not just prudent, it's mandatory. This brings Enhanced Due Diligence (EDD) into the limelight.