Tag: Politically Exposed Persons
Navigating the intricacies of PEP identification in FinTech compliance
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.
Adapting to change: How the UK’s latest money laundering amendments impact...
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...
Unmasking PEPs: The growing call for transparency in financial dealings
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.
Unlocking the secrets of enhanced due diligence in global finance
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.
Mitigating financial crime: A closer look at adverse media screening
Adverse media screening has become an integral component in the finance industry, especially in relation to Anti-Money Laundering (AML) compliance. RegTech company Alessa recently...
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