Banks are increasingly turning to insurance to protect their capital from ‘operational risks’ like cyber attacks and rogue traders, and
Stephen Platt, Chairman of KYC Technologies, offers an optimistic perspective on the impact of technology on AML compliance.
Earlier this month, the Fraud Section of the U.S. Department of Justice (DOJ) published its Evaluation of Corporate Compliance Programs (Evaluation Guidance). Although issued without fanfare, the Evaluation Guidance represents the latest in a series of important communications by the Fraud Section outlining the DOJ’s expectations for effective corporate compliance programs.
Online financial services and lending companies are increasingly being targeted by fraudsters and costing consumers millions of pounds around the world last year alone, according to research.
Amid the self-evaluation and manager assessments of the annual performance review season, many compliance professionals consider or ask the question: “am I in a good place, being fairly compensated, or better off elsewhere?”
The British Insurance Brokers’ Association (BIBA) has urged the Financial Conduct Authority (FCA) to prioritise effective supervision amid rising regulatory costs for small brokers.
The Panama Papers scandal of 2016 led to the leaked individuals’ names and associations being scrutinized by governments in the UK, Germany, France, Italy, Spain and Australia among others, which is unsurprising given that the financial services industry is in the midst of preparing for new stricter regulation to commence.
The Common Reporting Standards regulation, The Fourth Money Laundering Directive, the Foreign Account Tax Compliance Act and Financial Action Task Force recommendations on money laundering that have been proposed and enacted in Europe and the US are intended to strengthen the anti-money laundering (AML) regulatory environment and increase pressure on institutions to comply.
Republicans on Wednesday passed a bill in the House of Representatives that touched on nearly every step U.S. agencies take in creating and applying new rules, continuing their blitz to radically reform “abusive” federal regulation of areas from the environment to the workplace.
The New York State Department of Financial Services (DFS) on Wednesday released a revised draft of an ambitious regulation designed to protect the state and its citizens from cyberattacks against financial institutions.
Regulators the world over are stepping up the war against financial crime, issuing a raft of rules and hitting banks with some serious penalties. Despite these efforts, it’s still not uncommon to hear of financial ...
Susan has been making her living from crime for over twenty years. She provides anti-money laundering training and advice to the regulated community in the UK, Guernsey, Jersey, the Isle of Man and Gibraltar, ...
Catalan President Carles Puigdemont’s declaration to suspend independence on Tuesday may have disappointed the ‘Catalexit’ camp, but a move to immediately break away from Spain would have triggered insurmountable challenges, including financial regulatory obstacles. Addressing Cataln’s ...
Despite all of the best efforts by regulators, clients and even the banks themselves, bank fraud still goes on. A report by the UK’s National Audit Office (NAO) claims that banking fraud is still rising ...
9 October 2017 KYC360 News The United States has lifted key sanctions on Sudan, ending more than two decades of economic restrictions with the North African state. The revocation, which will be effective as of 12 October, is ...
The European Union on Monday ratcheted up pressure on North Korea (DPRK) over its nuclear, imposing fresh restrictions aimed crippling
Ernst & Young has been hit with a £2,75 million penalty, reduced to £1,8m, for misconduct in the audit of
The Reserve Bank of India (RBI) last week released a set of master directions for issuance and operation of Prepaid
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017, also known as Australia’s “bitcoin bill”, has marked some important progress.