Global AML Regulation

AML Regulations Around the World

The global AML landscape is diverse and financial institutions must keep pace with developing rules and regulations in order to remain compliant.

Where a business is functioning determines the local and international regulations they need to comply with in order to continue operating. In this post, we look to explore some of the most prominent regulatory bodies, the territories they cover and how they differ.

Fair World for Finance?

Do We Live in a Fair World of Finance?

There is a clear disparity between those worldwide who physically cannot access financial services because their data is not held on ‘traditional’ sources, and those whose data is held online through the use of smart devices...

Creating ‘a more inclusive financial world’ has been a fashionable mantra for a few years now, but what is actually being done to make banking services more accessible and affordable to the global population?

Financial Institutions

Why Financial Institutions Must Perform Due Diligence

These days, most people practice due diligence without even thinking about it. It’s rare that someone would make a major purchase like buying a car without performing some research beforehand.

Just as we evaluate big decisions before we make them, banks and financial institutions need to know who their prospective clients are before allowing them to open an account. This is where customer due diligence comes into play.

Money Laundering in Cryptocurrency

Money Laundering in Cryptocurrency

Since the beginning of 2019, illicit activities have been steadily increasing in cryptocurrency; last year alone, Chainalysis traced $2.8 billion in Bitcoin that moved from criminal entities to exchanges.

But how are criminals laundering money using cryptocurrencies, and what is being done about it? Here, we will explore money laundering in cryptocurrency and the likely consequences.

Gambling VIP schemes

The UKGC Is Clamping Down on VIP Schemes

The UK Gambling Commission has announced what they’re calling ‘strict new guidance’ for the way operators will have to handle VIP customer schemes moving forward. Provided that suppliers follow the new guidance, ‘there should be no irresponsible incentivisation of high-value customers in the future.’

Do You Know How Your Identity Is Used in a Day?

Do You Know How Your Identity Is Used in a Day?

It is estimated that the cost of identity fraud to the UK economy is £5.4billion and that cybercrime and fraud make up almost 50% of reported crime. Your identity is arguably your most valuable asset, but how often are you aware of all the ways that you use it to transact? With the lines of physical and digital identity becoming increasingly blurred, it’s more important than ever to safeguard your identity during transactions.

How enhanced KYC checks increase brand loyalty

How Enhanced KYC Checks Increase Brand Loyalty

These days, customers expect far more from brands and organisations than just their primary service. Consumers are made more aware of company practice and will often favour a brand that aligns to their views over cheaper or quicker alternatives.

But how can you foster loyalty in your brand? This post will explore how implementing robust and compliant KYC checks can help cultivate emotional, lasting relationships with your customers.

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