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.
Tens of billions of dollars every year move through opaque law-firm bank accounts that create a gap in U.S. money-laundering defenses, according to a Wall Street Journal analysis.
As regulatory compliance initiatives move toward utilizing machine learning and artificial intelligence (AI), what effect might the increased efficacy of AML programs have on developing nations and small financial players without large compliance budgets? More ...
This article first appeared on LinkedIn. It is republished here with the author's permission. Back in 2013 people in the UK and Ireland found the “beef lasagna” on their plates was “horse lasagna”. In countries where they like ...
KYC360 interviews Ana Linda Solano, former Director of the Economic and Financial Judicial Police in Colombia. Transcript Amos Wittenberg: Thanks for listening in to this episode of the KYC 360.com podcast, a regular series of conversations with leaders ...
Malta’s Minister of Finance failed to answer The Malta Independent’s questions on why it has not transposed the latest EU anti money laundering directive into law. The EU Commission some weeks ago penned a letter to ...
The head of the credit card division of the notorious Tanzania-based FBME Bank allegedly helped an international child pornography ring launder money through the bank, according to a 52-page privileged and confidential report prepared by ...
Global auditing giant KPMG agreed to pay $6.2 million in penalties to settle Securities and Exchange Commission charges that it
Sanctions imposed by other Arab states are continuing to push up food prices in Qatar while hurting the real estate
PwC has been handed a record £5.1 million fine for “extensive” misconduct after admitting a litany of failures in its
Former Russian Economy Minister Alexei Ulyukayev told his bribery trial on Wednesday that he had been framed by a close