Knowledge Hub

The latest news, commentary and events from KYC360.

KYC360 top picks

 
Roundup

KYC360 Weekly Roundup - 19th July 2024

Top stories this week: Financial Firms in Luxembourg Struggling to Recruit Skilled Staff to Meet AML Obligations |

KYC360

Jul 19, 2024

 
Roundup

KYC360 Weekly Roundup - 12th July 2024

Top stories this week: Citigroup fined $136m for failure to fix compliance issues | ANZ calls for standardisation of processes for banks

KYC360

Jul 12, 2024

 
Roundup

KYC360 Weekly Roundup - 5th July 2024

Top stories this week: Crypto bank Silvergate agrees to $63 million settlement over regulatory failings | Singapore targets money launderers with new legislation

KYC360

Jul 05, 2024

 
Events

Exclusive Complimentary Lunch Event - Switzerland

Hear from Stephen Platt, CEO of KYC360 and lead investigator of several regulatory enquiries on how the way you comply can be a key differentiator.

KYC360

Jul 16, 2024

 
Events

Annual KYC360 Forum

Join the KYC360 Forum and hear from world leading experts and thought leaders in the AML space.

KYC360

Jun 03, 2024

 
News

Swiss-Asia Fined S$2.5 Million for AML Breaches

Swiss-Asia Financial Services (SAFS) was fined S$2.5 million (US$1.8 million) by the Monetary Authority of Singapore (MAS) for multiple AML/CFT breaches

KYC360

Jul 11, 2024

 
News

Key Takeaways from Director of the High-Risk Client Unit at Standard Chartered Bank

Nick Lewis brought invaluable insights into how financial institutions can better manage high-risk relationships.  

KYC360

Jul 02, 2024

 
News

Why Financial Firms are Adopting a Perpetual KYC Approach

A pKYC approach can increase operational efficiencies and scalability.  Perpetual KYC can also free up staff from burdensome repetitive work

KYC360

Jun 07, 2024

 
News

KYC360 recognised as category leader in Chartis RiskTech Watchlist Monitoring Report

KYC360 is proud to be recognised as a category leader in two quadrants in the 2024 Chartis Watchlist and Adverse Media Monitoring Solutions Report

KYC360

May 30, 2024

 
News

KYC360 appoints former Director-General of Jersey Financial Services Commission (JFSC) to advisory board

KYC360 is delighted to announce the appointment of John Harris to our advisory board.

KYC360

Apr 22, 2024

 
News

KYC360 wins Wealth Management category in the Chartis FCC50®

KYC360 wins category award in the Chartis FCC50. This achievement reaffirms KYC360’s position as an industry leader.

KYC360

Mar 13, 2024

 
News

RiskScreen rebrands as KYC360

Today marks an exciting chapter for RiskScreen as we proudly unveil our new identity as KYC360.

KYC360

Dec 20, 2023

 
Case Study

How we helped Play’n GO automate KYC operations

Play’n GO sought to automate their screening and onboarding processes, leading to the adoption of KYC360 solutions.

KYC360

Jan 29, 2024

 
Case Study

Transforming onboarding and screening for CoinPayments

The challenge for CoinPayments was the intricate process of onboarding merchants while simultaneously upholding stringent compliance measures.

KYC360

Dec 19, 2023

 
Case Study

Revolutionising onboarding and screening for Altum Group

Revolutionising Onboarding and Screening integrated with NavOne for Altum Group.

KYC360

Dec 19, 2023

 
Case Study

Revolutionising customer onboarding for a major banking group

How we revolutionised customer onboarding for a major banking group, reducing onboarding times by a third for new customers.

KYC360

Dec 19, 2023

 
Case Study

How we transformed the onboarding process for an investment advisor

A new MLRO had been appointed and immediately realised that the company needed to dramatically improve and update its onboarding processes.

KYC360

Dec 19, 2023

 
Case Study

How we helped Oak Group unify their screening processes

With a growing client base spread over multiple geographic jurisdictions, the Oak Group realised they needed to update and automate their processes.

KYC360

Dec 19, 2023

 
Case Study

How we helped a Gaming company streamline customer onboarding

How we helped a Gaming company streamlining customer onboarding while ensuring regulatory compliance.

KYC360

Dec 19, 2023

 
Case Study

How we helped a Gaming company enhance player screening efficiency

With a diverse and dynamic player base, they face the complex challenge of conducting effective KYC and Anti-Money Laundering (AML) screening.

KYC360

Dec 19, 2023

 
Case Study

How we helped a finance company handle increased regulatory pressures

How we helped a financial services company handle increased regulatory pressures and reduce false positives with Screening batch.

KYC360

Dec 19, 2023

 
Publications

Spotlight Report - Asset Management

AML and KYC vulnerabilities in asset management - An in-depth look into the issues to help identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Trust & Corporate Service Providers

AML and KYC Vulnerabilities for TCSPs - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - FinTechs

AML and KYC Vulnerabilities in FinTechs - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Gaming and Gambling

AML and KYC Vulnerabilities in Gaming - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Hedge Funds

AML and KYC Vulnerabilities in Hedge Funds - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - High Value Goods

AML and KYC Vulnerabilities in High Value Goods - An in-depth look into the issues to help identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Law & Legal Services

AML and KYC Vulnerabilities in Law & Legal Services - An in-depth look into the issues to help identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Brokerage Sector

AML and KYC Vulnerabilities in the Brokerage Sector - An in-depth look into the issues to help identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Crypto Sector

AML and KYC Vulnerabilities in Crypto - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Insurance sector

AML and KYC Vulnerabilities in insurance - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Spotlight Report - Supply Chain

AML and KYC Vulnerabilities in Supply Chain - An in-depth look into the issues to help you to identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

Solving the challenges of onboarding complex client structures

We examine what we mean by complex client structures and the additional complications presented by onboarding these types of prospects.

KYC360

Dec 21, 2023

 
Publications

Spotlight report - Payment Service Providers

AML and KYC Vulnerabilities of Payment Providers An in-depth look into the issues to help identify weaknesses in your existing compliance framework.

KYC360

Dec 21, 2023

 
Publications

2022 RS Onboarding survey report

The results of this onboarding survey confirm many of the trends we’re seeing in the compliance space, but also add some interesting statistics.

KYC360

Dec 21, 2023

 
Publications

HSBC AML Failures - What went wrong?

We examine the 3 key areas of HSBC’s transaction monitoring system that were flawed and underline the critical role that transaction monitoring plays.

KYC360

Dec 21, 2023

 
Publications

NatWest AML Failures - What went wrong?

We look at a catalogue of AML failures – including the bank’s failing to conduct ongoing monitoring of a business relationship

KYC360

Dec 21, 2023

 
Publications

The Ericsson Corruption Scandal: What went wrong?

In this insightful report, we examine the facts to date that have led to a scandal of international corruption, bribery and misconduct at Ericsson .

KYC360

Dec 21, 2023

 
Publications

The challenge of onboarding complex client structures - infographic

This infographic highlights the challenges of onboarding complex clients, and how Ultimate Beneficial Owners can be buried deep.

KYC360

Dec 21, 2023

 

KYC360 Announces New Enhancements to Screening

KYC360 is delighted to announce new screening dashboards.

KYC360

Jun 11, 2024

 

Safer Gambling Spotlight

Gambling and Gaming companies must ensure their approach to regulation and compliance can adequately scale or face the risk of enforcement action.

KYC360

Apr 17, 2024

 

The New Reg Tech Super Deduction Scheme in Jersey

This groundbreaking tax incentive aims to encourage investment in regulatory technology (reg tech).

KYC360

Feb 09, 2024

 

Trump's Honduran ally likely imprisoned for life

Agents of the DEA, prosecutors with the DOJ, and anyone that listened to the truth, knew Juan Orlando Hernandez was an enemy of the American people.

KYC360

Feb 08, 2024

 

A plan to inhibit significant money laundering offenses

The AML vulnerabilities of our banking systems can be significantly reduced by developing a uniform industry-wide strategy.

KYC360

Apr 12, 2023

 

Proof that Biden’s funding for the IRS will pay dividends for middle class

Robert Mazur: More proof that Biden’s additional funding for the IRS will pay big dividends for the middle class

KYC360

Nov 10, 2022

 

Understaffed IRS has trouble catching major tax cheats

Robert Mazur, a federal agent for 27 years, is a court-certified expert in money laundering related matters in both the U.S. and Canada.

KYC360

Oct 12, 2022

 

How goes the war against laundering?

If a willingness to do the right thing were the fuel that powered the attack on money launderers, that initiative would be a total success.

KYC360

Nov 25, 2021

 

Is FATF Playing Politics with Pakistan?

When the FAFT disclosed that Pakistan would remain on its list of jurisdictions under increased monitoring, critics responded with this question.

KYC360

Oct 20, 2021

 

Laundering $1 Million With Very Little Risk

One might wonder whether it would be easy to launder $1 million in cash in one day for Mexican cartels.

KYC360

Jul 30, 2021

 

Danske Bank: What went wrong?

We explore how Danske Bank came to be embroiled in one of the world’s largest money laundering scandals as a result of activities at its Estonian branch.

KYC360

Jun 09, 2021

 

Checking the Bitcoin Box

In 2020, FinCEN, the U.S. FIU and its primary AML regulator, published a Notice of Proposed Rulemaking on virtual currency transactions.

KYC360

Feb 26, 2021

 

Blockchain and Covid-19: A new era for financial crime compliance?

Institutions have faced significant challenges in managing the broadening scope of regulatory requirements amid the escalating Covid-19 pandemic.

KYC360

Feb 24, 2021

 

Cartel Economics

How Banxico will work with local Mexican banks that have ‘justified difficulties’ getting rid of bulk U.S. currency.

KYC360

Feb 11, 2021

 

Top skills that make a good compliance officer

We put it out to a survey of KYC360 users, asking you to tell us which skills you thought were particularly important.

KYC360

Dec 02, 2020

 

What 6AMLD Doesn’t Say About Legal Liabilities

Sixth Anti-Money Laundering Directive (6AMLD) - significant questions remain unanswered about how it will be enforced on a national-level.

KYC360

Dec 02, 2020

 

We’ve All Been Deceived. There is No War on Drugs.

Having been one of the soldiers in the war on drugs for 27 years, I, the American public and the world’s communities have been deceived.

KYC360

Dec 01, 2020

 

The FinCEN Files: Asking the Right Questions

The FinCEN Files are certainly headline-grabbing stories and they raise a lot of questions about the efficacy of AML compliance around the globe.

KYC360

Oct 16, 2020

 

FinCEN Files Confirm the Elephant in the Room

A report by Robert Mazur, former U.S. Federal Agent and author of “The Infiltrator”

KYC360

Sep 30, 2020

 

Lessons From Deutsche Bank’s Epstein Fine

The DFS consent order recounts how the bank went wrong “despite knowing Mr. Epstein’s terrible criminal history”

KYC360

Jul 31, 2020

 

The Master Identity Thief

How Dartanyon Williams Stole Millions by the Age of 23

KYC360

Jul 28, 2020

 

Labour exploitation and financial crime in the textile industry

Leicester experienced unexpectedly higher number of covid infections. What transpired were reports of labour exploitation and a financial crime nexus.

KYC360

Jul 24, 2020

 

Amazon: Prime Time for Penalties

The OFAC announced a settlement agreement with Amazon for a large number of violations across a wide spectrum of OFAC’s sanctions programs

KYC360

Jul 21, 2020

 

On the Periphery: Financial Crime Risks in Cryptocurrency Mining

AML professionals familiarizing themselves with crypto risks should be certain to focus on what may appear to be a peripheral risk – cryptocurrency mining.

KYC360

Jul 13, 2020

 

How Banks Can Detect Money Mules in the Time of COVID-19

With all of the terrible economic news that has followed COVID-19, it’s easy to miss the line of work is welcoming new job seekers: money laundering.

KYC360

Jun 26, 2020

 

The Art of the SAR

If filing a suspicious activity report is more of an art than a science, it should be remembered that not all art is equal.

KYC360

May 11, 2020

 

Nordic Noir: Understanding the Swedbank Saga

At times it can seem as if Swedbank’s recent history has been taken from the plot of a Nordic noir novel.

KYC360

Apr 30, 2020

 

‘Think Like a Bad Guy'

During his time as an undercover agent investigating Pablo Escobar and the Medellin Cartel, Robert Mazur kept two lessons from his training in mind.

KYC360

Apr 10, 2020

 

Trade Misinvoicing: A Common TBML Typology

While global trade is expanding, we see an increasing trend in illicit activity by criminals trying to move the economic values of criminal proceeds.

KYC360

Apr 01, 2020

 

Interested Parties: Understanding ‘Property’ in OFAC Compliance

Economic sanctions regulations generally are written to be applicable to “property or interests in property.”

KYC360

Mar 11, 2020

 

Illicit finance hidden in trade numbers fed $9tn loss

Trade-based money laundering (TBML) and tax evasion contributed to a nearly $9-trillion loss for developing countries between 2008 and 2017.

KYC360

Mar 04, 2020

 

Tricks of the trade

There are 3 main methods by which criminal organisations and terrorist financiers move money for the purpose of disguising its origins.

KYC360

Feb 11, 2020

 

Art: In the Frame for Money Laundering

With sales in the global art market in 2018 reaching $67.4billion, according to a 2019 report, art is big business, attracting legal and illegal wealth.

KYC360

Feb 03, 2020

 

Company Formation Given Undersized Role in Financial Gatekeeping

Banks remain vulnerable to money laundering and financial crimes unless further action is taken to improve transparency in the company formation sector.

KYC360

Jan 28, 2020

 

The Reality About Corrupt PEPs: They’re a Global Problem

I recently communication between PwC auditors and representatives of Fidequity, a financial services company.

KYC360

Jan 21, 2020

 

Chaos Theory: Sanctions in Practice

Iran continued to provide support for terrorist groups and insurgencies around the Middle East.

KYC360

Jan 10, 2020

 

Taxing Times at HSBC

Read Recent action by the US DOJ against HSBC following the bank’s admission that it conspired with American customers to facilitate tax evasion.

KYC360

Jan 08, 2020

 

Canada’s Abysmal Prosecution Rate for Money Laundering

The recent proclamation in The Star that, “In Canada, nearly all accused money launderers get their charges dropped”, didn’t surprise me in the least.

KYC360

Jan 01, 2020

 

The Real Narcos: A Clear and Present Danger Today

Given the shifting nature of the fight against cartels and the kingpins who run them, it is important remember the age-old adage of war: know your enemy.

KYC360

Dec 13, 2019

 

What Westpac’s Woes Tell Us About AML Compliance

As the fallout from Westpac’s massive money-laundering scandal continues, compliance officers are advised to review how the bank’s troubles began.

KYC360

Dec 06, 2019

 

Leveling the Uneven Playing Field from Which We Fight

AML professionals that play by the rules have difficulty realizing that the “bad guys” at the highest levels of the criminal world have no rules.

KYC360

Nov 27, 2019

 

Dirty Money on the Big Screen

Dirty money is becoming a hot topic in entertainment, and this has the potential benefit of increasing general awareness of their harm to society.

KYC360

Nov 15, 2019

 

What Cryptocurrency, Drug Lords and Mafia Bosses Don’t Have in Common

Buyers of illegal drugs in impoverished inner cities primarily pay their dealers on the street with cash or stolen goods.

KYC360

Nov 13, 2019

 

Precious metals: The ‘gold standard’ in money laundering

One of the oldest and most sought-after physical assets — gold — remains a prevalent money laundering risk.

KYC360

Nov 08, 2019

 

How Hezbollah’s Terrorist Financing Roots Grew into the Drug World

Free trade zones around the world are hot beds of trade-based money laundering. This is a fact borne out by many cases over the past several decades.

KYC360

Oct 17, 2019

 

KYC360 Exclusive

Understanding why Hezbollah has deep roots in the drug trade requires a historical view of Lebanon.

KYC360

Oct 17, 2019

 

Martin Woods on Wachovia, Whistleblowing and the State of AML

In this exclusive interview, KYC360 talks to one of the world’s leading AML commentators Martin Woods. Best known as the “Wachovia Whistleblower”.

KYC360

Oct 01, 2019

 

Precious Metals: A Money Laundering Magnet

Precious metals businesses have carried very high money laundering risk for decades, and they will for decades to come.

KYC360

Sep 13, 2019

 

Refereeing Football: The EU’s Yellow Card for Money Laundering

Football clubs and players’ agents may be required to report suspicious transactions to the police or face criminal sanctions, just like banks.

KYC360

Aug 23, 2019

 

Rooting for OFAC: A Sanctions Compliance To-Don’t List

OFAC lists 10 “root causes” of inadequate sanctions compliance programs (SCPs) derived from historical enforcement actions it has taken:

KYC360

Aug 14, 2019

 

OFAC’s Compliance Framework: A Fine Foundation?

In May 2019, the US Office of Foreign Assets Control (OFAC) published “A Framework for OFAC Compliance Commitments” (“Framework document”).

KYC360

Jul 15, 2019

 

The Abacha Case

How AML Procedures Should Have Flagged $267m Earlier

KYC360

Jun 07, 2019

 

To fight corruption, follow the goods

There is disquiet about the French owners Luis Vuitton, Christian Dior, Givenchy and Gucci giving €300 million to the rebuilding of Notre Dame.

KYC360

May 16, 2019

 

Virtual Assets Are Here To Stay, Are AML Professionals Up to Speed?

Virtual Assets Are Here To Stay, But Are AML Professionals Up to Speed?

KYC360

May 07, 2019

 

To Sue or Not to Sue: A Tough Question for Compliance Officers

Whether it’s linked to a case of whistleblowing, a problematic work culture or discrimination, the decision to sue an employer is never easy. .

KYC360

Apr 18, 2019

 

Confessions of a compliance officer

The risk-based approach is a key aspect of compliance work. But what happens when the boss shows up with a muddled plan and expects it to be implemented?

KYC360

Apr 17, 2019

 

Implementing sanctions screening and due diligence methods

Financial firms are faced with a fluid, fast-changing sanctions programs, and hence they invest in skilled personnel and compliance solutions.

KYC360

Apr 12, 2019

 

Closer Look: Standard Chartered’s $1.1 Billion Settlement

Standard Chartered Bank and the US Justice Department disclosed a 2yr extension to a 7yr settlement that required a host of remedial steps.

KYC360

Apr 10, 2019

 

New Lessons from the Barclays Whistleblowing Case

The FCA and PRA jointly fined Barclays CEO £642,430 for violating a conduct rule requiring individuals to act with due skill, care and diligence.

KYC360

Apr 05, 2019

 

Pursuing unexplained wealth in Nigeria

Despite the efforts of the incumbent President to fight corruption, Nigeria remains one of the top the world’s corruption rankings.

KYC360

Mar 28, 2019

 

Breakdown: The Kleptocracy Asset Recovery Rewards Act

US Rep. Stephen Lynch introduced a measure that would “authorize the Secretary of the Treasury to pay rewards under an asset recovery rewards program

KYC360

Mar 22, 2019

 

For HSBC, Questions Remain Following Moldovan Asset Seizures

The asset forfeiture order granted to UK authorities in February to seize more than £466,000 from a London student living in a luxury apartment.

KYC360

Mar 18, 2019

 

Understanding EU anti-money laundering law

This article highlights some key aspects of the EU’s fourth and successive directives, which are an important part of Europe’s response to financial crime.

KYC360

Mar 13, 2019

 

AML Third-Party Risks: What Matters Most

The global nature of trade brings with it huge compliance risks, exposing businesses to a wide array of rules and regulations.

KYC360

Mar 06, 2019

 

Know-Your-Data: Key Lessons from AML Failures

We spoke to Stephen about his experience in running systemically important regulatory enquiries and the lessons that he learned.

KYC360

Feb 28, 2019

 

EU Sixth Anti-Money Laundering Directive (6AMLD)

With its publication in the Official Journal of the European Union in late 2018, the 6AMLD is now on its way.

KYC360

Feb 25, 2019

 

The perfect AML programme: A ten point guide

Here’s a ten step guide to achieving an effective AML programme, which could prove useful in staying compliant and warding off those petrifying fines.

KYC360

Feb 20, 2019

 

Compliance hot spots for 3rd transactions and corporate remittances

Compliance hot spots for third-party transactions and corporate remittances.

KYC360

Feb 07, 2019

 

Sanctions: The new ‘Deripaska Rule’ – a twist to regulation?

The U.S. OFAC removed three companies from its Specially Designated Nationals (SDN) List.

KYC360

Feb 05, 2019

 

Banking and compliance: How I scooped an award for my work

Someone asked me how I won an award or recognition for my compliance work at the bank where I worked, and I am pleased to share my little adventure.

KYC360

Jan 23, 2019

 

Seriously attacking real money laundering

Testimony in the New York federal trial of “El Chapo” Guzman offered facts heard in hundreds of similar trials since the prosecution of Al Capone.

KYC360

Jan 22, 2019

 

US anti-money laundering: Hot topics for 2019

After 2018 saw huge penalties, the rollout of privacy laws and Europe’s biggest banking scandal, compliance officers are ready for a fresh start.

KYC360

Jan 22, 2019

 

UK anti-money laundering (AML) – Hot topics for 2018

After an eventful 2017, the year ahead will unlikely be dull on the United Kingdom’s anti-money laundering (AML) scene.

KYC360

Jan 18, 2019

 

Confessions of a banking compliance officer

A mighty banker crashes to earth

KYC360

Jan 10, 2019

 

Anti-money laundering analysis: UK FCA and EU blacklists update

The purpose of this article is to consider a few issues around some lists produced by the public sector.

KYC360

Jan 08, 2019

 

Q and A: EU Anti-Tax Avoidance Directive (ATAD) comes into force

The European Union has enforced new rules designed to further combat tax avoidance across the bloc, effective from 1 January 2019.

KYC360

Jan 03, 2019

 

Court orders banks to open account for convicted fraudster

The Royal Court has ruled that a trust for a convicted fraudster should be allowed to open a bank account, despite being denied in other jurisdictions.

KYC360

Dec 17, 2018

 

Investigations expose outrageous misconduct at U.S. banks

‘The investigations exposed outrageous misconduct at U.S. banks and flaws in American law’

KYC360

Dec 11, 2018

 

Special Report: Ex-HSBC banker - limousines and bags of dirty cash

Special Report: The ex-HSBC banker, go-fast limousines and bags of dirty cash.

KYC360

Nov 22, 2018

 

Curbing employee fraud and corruption with an effective KYE program

According to the Central Bank of Nigeria, criminal activities are being perpetrated by members of staff and non-staff members of lending institutions.

KYC360

Nov 12, 2018

 

How Rabobank’s compliance unit ended up in hot soup again

AML expert Robert Mazur has picked out some interesting aspects of the worrisome role compliance officers played in the Rabobank money laundering scandal

KYC360

Oct 12, 2018

 

Smurf banks large piles of dirty cash, claims innocence

Legal expert Stefan Cassella examines a recent case involving a woman in the US who was paid by a drug dealer to be a smurf.

KYC360

Oct 09, 2018

 

HSBC, Standard Chartered named and shamed over ‘murky past’

HSBC has found itself in political hot water in Nigeria, after President Muhammahdu Buhari launched an extraordinary public attack on the bank.

KYC360

Oct 05, 2018

 

Wild, wacky compliance failures from ING, Danske banks

The consequences of the money laundering scandals at Danske Bank and ING are proof of the bizarre goings-on of any compliance regime.

KYC360

Sep 28, 2018

 

Danske Bank $234 billion money laundering

A top EU official overseeing money laundering issues in the bloc has described the scandal at Danske Bank as the ‘biggest’ on the continent.

KYC360

Sep 21, 2018

 

Banking: Detecting tell-tale signs of human trafficking (Part 2)

Banking: Detecting tell-tale signs of human trafficking (part 2)

KYC360

Sep 17, 2018

 

Once a PEP, always a PEP?

As per AML regulations, institutions should take steps to ensure they do not help in hiding or passing the proceeds of corruption by political figures.

KYC360

Aug 24, 2018

 

Banking: Detecting tell-tale signs of human trafficking (Part 1)

The FATF in conjunction with the Asia Pacific Group (APG, a FATF-style Regional Body, or FSRB), issued a report on financial flows in human trafficking.

KYC360

Aug 22, 2018

 

Money Laundering at Danske Bank

Financial crime staff should consider the findings of the review conducted by the Danish Financial Supervisory Authority into Danske Bank.

KYC360

Aug 16, 2018

 

Startup looks to help HSBC, financial firms spot money laundering

In April this year, HSBC announced it had partnered with startup Quantexa to integrate its anti-money laundering (AML) technology into HSBC’s systems.

KYC360

Jul 23, 2018

 

Money laundering: Commingled bank accounts and the $10,000 requirement

Legal expert Stefan Cassella examines a recent case involving a medical doctor who ran a ‘pill mill’ and posted over $1 million into a commingled account.

KYC360

Jul 11, 2018

 

Lafarge terror financing scandal

French cement giant Lafarge finds itself at the core of a rather unique, and quite embarrassing, compliance case.

KYC360

Jul 10, 2018

 

Panama Papers pandemonium

On the second anniversary of the Panama Papers, new information published by the ICIJ makes for interesting – and even entertaining – reading.

KYC360

Jul 06, 2018

 

Panama Papers

As the 2nd anniversary of the Panama Papers passes, now is a good time to consider how 3 major jurisdictions and the EU reacted to the scandal.

KYC360

Jun 28, 2018

 

Anti-money laundering: Outsourcing — pitfalls to avoid

The Financial Conduct Authority’s (FCA) Final Notice against Interactive Brokers UK (IBUK), which attracted a fine of £1,049,000, is a case in point.

KYC360

Jun 25, 2018

 

The Road from Damascus: Europort, Gibraltar and the Butcher of Hama

The tenants of a Europort complex in Gibraltar were surprised to learn, until recently, their offices were owned by a close relative of a Syrian dictator.

KYC360

Jun 18, 2018

 

Blockchain: Opportunities for KYC and sanctions screening

Sanctions, whether targeted or comprehensive, are designed to restrict and influence governments from supporting bad actors.

KYC360

Jun 11, 2018

 
Roundup

KYC360 Weekly Roundup - 19th July 2024

Top stories this week: Financial Firms in Luxembourg Struggling to Recruit Skilled Staff to Meet AML Obligations |

KYC360

Jul 19, 2024

 
Roundup

KYC360 Weekly Roundup - 12th July 2024

Top stories this week: Citigroup fined $136m for failure to fix compliance issues | ANZ calls for standardisation of processes for banks

KYC360

Jul 12, 2024

 
Roundup

KYC360 Weekly Roundup - 5th July 2024

Top stories this week: Crypto bank Silvergate agrees to $63 million settlement over regulatory failings | Singapore targets money launderers with new legislation

KYC360

Jul 05, 2024

 
Roundup

KYC360 Weekly Roundup - 28th June 2024

Top stories this week: EU Anti-Money Laundering Authority Comes Into Force | FCA Provides Update on Controversial “Name and Shame” Proposals

KYC360

Jun 28, 2024

 
Roundup

KYC360 Weekly Roundup - 21st June 2024

Top stories this week: HSBC Switzerland Breached AML Rules According to Swiss Watchdog | UK Review Into PEPs Delayed Until After Election 

KYC360

Jun 21, 2024

 
Roundup

KYC360 Weekly Roundup - 14th June 2024

Top stories this week: TD Bank Faces $4 billion AML Fine | 175 Individuals Arrested in Crackdown on Money Laundering in Hong Kong

KYC360

Jun 14, 2024

 
Roundup

KYC360 Weekly Roundup - 7th June 2024

Top stories this week: Epoch Times Accused of Money Laundering by DOJ | Janet Yellen Says AI Can Help Tackle Money Laundering but Warns of Significant Risks

KYC360

Jun 07, 2024

 
Roundup

KYC360 Weekly Roundup - 31st May 2024

Top stories this week: EBA Recommends Overhaul of Virtual IBANs Due to Money Laundering Risks | BaFin Eases Growth Restrictions on N26 Bank

KYC360

May 31, 2024

 
Roundup

KYC360 Weekly Roundup - 24th May 2024

Top stories this week: Over £1bn lost to fraud last year in the UK | N26 Bank fined 9.2 million euros by German regulator

KYC360

May 24, 2024

 
Roundup

KYC360 Weekly Roundup - 17th May 2024

Top stories this week: Almost 40% Of Dirty Money is Laundered in London and Crown Constituencies | U.S. Financial Watchdogs Propose New AML Rules for Fund Advisors

KYC360

May 17, 2024

 
Roundup

KYC360 Weekly Roundup - 10th May 2024

Top stories this week: Singapore Wealth Management Firm Swiss-Asia Fined $2.5m for AML Breaches | Australian Government to Invest AUD 166.4 Million to Shore up AML defences

KYC360

May 10, 2024

 
Roundup

KYC360 Weekly Roundup - 3rd May 2024

Top stories this week: Binance Founder Sentenced to 4 Months in Prison | U.S. Prosecutors Investigating Financial Transactions at Block

KYC360

May 03, 2024

 
Roundup

KYC360 Weekly Roundup - 26th Apr 2024

Top stories this week: New report from PWC shows financial firms are unclear about AML regulations fraud | UK MP warns of ‘dirty money epidemic’

KYC360

Apr 26, 2024

 
Roundup

KYC360 Weekly Roundup - 19th Apr 2024

Top stories this week: DOJ introduces whistleblower programme to combat financial fraud | UK government announces measures to tackle global financial corruption |

KYC360

Apr 19, 2024

 
Roundup

KYC360 Weekly Roundup - 12th Apr 2024

Top stories this week: Bet365 fined £582,120 for AML and social responsibility failures | Italy weighs up tougher penalties for AI-related crimes

KYC360

Apr 12, 2024

 
Roundup

KYC360 Weekly Roundup - 05th Apr 2024

Top stories this week: Over £2.6bn Lost to Investment Fraud Since 2020 | Former Head of FTX Sam Bankman-Fried Sentenced to 25 Years in Prison

KYC360

Apr 05, 2024

 
Roundup

KYC360 Weekly Roundup - 29th Mar 2024

Top stories this week: KuCoin Crypto Exchange Charged with AML Failures | Swiss Regulator Identifies Significant Breach at Banque Audi (Suisse) SA

KYC360

Mar 29, 2024

 
Roundup

KYC360 Weekly Roundup - 22nd Mar 2024

Top stories this week: India introduces a uniform Know Your Customer (KYC) | Guo Wengui supports hit with sanctions and ordered to pay $327,000

KYC360

Mar 22, 2024

 
Roundup

KYC360 Weekly Roundup - 15th Mar 2024

AML news this week looks at British banks being given more time to check for scams

KYC360

Mar 15, 2024

 
Roundup

KYC360 Weekly Roundup - 8th Mar 2024

In AML news this week the FCA sent Dear CEO letters for AML failings.

KYC360

Mar 08, 2024

 
Roundup

KYC360 Weekly Roundup - 1st Mar 2024

AML news this week looks at the announcement of a new Anti-Money Laundering Authority in the EU

KYC360

Mar 01, 2024

 
Roundup

KYC360 Weekly Roundup - 23rd Feb 2024

Top AML stories: US to Impose Major Sanctions on Russia Over Navalny Death | Israeli MP Missed Chances to Cut Off Hamas Financing

KYC360

Feb 23, 2024

 
Roundup

KYC360 Weekly Roundup - 16th Feb 2024

In AML news this week the FCA states that enforcement alone cannot tackle financial crime.

KYC360

Feb 16, 2024

 
Roundup

KYC360 Weekly Roundup - 9th Feb 2024

Top AML stories: Fake IDs generated by AI claimed to pass crypto exchange KYC | Russian accounts closed by Turkish banks due to sanctions threat

KYC360

Feb 09, 2024

 
Roundup

KYC360 Weekly Roundup - 2nd Feb 2024

Top stories: Former Law Firm Partner Sentenced to 10 Years in Prison | US Government Proposes KYC Regulations for Cloud Providers

KYC360

Feb 02, 2024

 
Roundup

KYC360 Weekly Roundup - 26th Jan 2024

AML news this week looks at the misuse of Discretionary Trusts for illegal money laundering and payments for facilitating illegal small boat crossings.

KYC360

Jan 26, 2024

 
Roundup

KYC360 Weekly Roundup - 19th Jan 2024

AML news this week looks at stricter regulations set out by the EU on cryptocurrencies.

KYC360

Jan 19, 2024

 
Roundup

KYC360 Weekly Roundup - 12th Jan 2024

AML news this week looks at details of admitted failures by top law firm Clyde & Co and news that Canada’s regulator is embracing AI.

KYC360

Jan 12, 2024

 
Roundup

KYC360 Weekly Roundup - 22nd Dec 2023

AML news this week looks at details of Interpol’s HEACHI IV operation targeting financial crime, which has netted $300m and lead to 3,500 arrests.

KYC360

Dec 22, 2023

 
Roundup

KYC360 Weekly Roundup - 18th Dec 2023

In the AML news this week, the Swiss government has drafted new money laundering rules following some criticism from the regulator.

KYC360

Dec 18, 2023

 
Roundup

KYC360 Weekly Roundup - 15th Dec 2023

AML news this week looks at details of how the EU’s new AML Authority (AMLA) will operate.

KYC360

Dec 15, 2023

 
Roundup

KYC360 Weekly Roundup - 8th Dec 2023

AML news this week looks at the results of Europol’s money mule action operation which has led to over 1000 arrests for money laundering.

KYC360

Dec 08, 2023

 
Roundup

KYC360 Weekly Roundup - 1st Dec 2023

AML news this week includes a detailed look at how organised crime operations rely on money laundering.

KYC360

Dec 01, 2023

 
Roundup

KYC360 Weekly Roundup - 24th Nov 2023

AML news this week has been dominated by Changpeng Zhao, now former CEO of Binance, who this week pleaded guilty to money laundering charges.

KYC360

Nov 24, 2023

 
Roundup

KYC360 Weekly Roundup - 17th Nov 2023

AML news this week the Basel AML Index is reporting an increase in the global money laundering/terrorist financing risk level.

KYC360

Nov 17, 2023

 
Roundup

KYC360 Weekly Roundup - 10th Nov 2023

AML news this week the FCA is demanding banks do more to stop authorised push payment fraud and that they treat victims better.

KYC360

Nov 10, 2023

 
Roundup

KYC360 Weekly Roundup - 3rd Nov 2023

AML news this week the FATF has updated its black and grey lists highlighting countries of concern over their AML practices.

KYC360

Nov 03, 2023

 
Roundup

KYC360 Weekly Roundup - 27th Oct 2023

In AML news this week FATF announces the removal of Switzerland from its enhanced AML scrutiny regime.

KYC360

Oct 27, 2023

 
Roundup

KYC360 Weekly Roundup - 20th Oct 2023

AML news this week looks at a call for clearer rules on the European Commission’s AML package proposal.

KYC360

Oct 20, 2023

 
Roundup

KYC360 Weekly Roundup - 13th Oct 2023

In AML news this week the newly appointed director of the US regulator FinCEN speaks about the priorities for the organisation.

KYC360

Oct 13, 2023

 
Roundup

KYC360 Weekly Roundup - 6th Oct 2023

In AML news this week the accountancy supervisory body the AAT, publishes its annual report on money laundering.

KYC360

Oct 06, 2023

 
Roundup

KYC360 Weekly Roundup - 22nd Sep 2023

In our anti-money laundering news this week, we have an interesting article on the lessons MLROs should take from the FCA’s recent fine of an MLRO.

KYC360

Sep 22, 2023

 
Roundup

KYC360 Weekly Roundup - 15th Sep 2023

In AML news this week, Europol issues its first ever financial crime report. It details the scale and extent of financial crime within the EU.

KYC360

Sep 15, 2023

 
Roundup

KYC360 Weekly Roundup - 8th Sep 2023

This week, the FCA’s Sarah Pritchard outlines some of the ongoing financial crime risks to a London audience.

KYC360

Sep 08, 2023

 
Roundup

KYC360 Weekly Roundup - 25th Aug 2023

In our anti-money laundering news this week, police in London have charged Nigeria’s former oil minister with bribery.

KYC360

Aug 25, 2023

 
Roundup

KYC360 Weekly Roundup - 18th Aug 2023

In our AML news this week, police in Singapore break open a huge money laundering operation and the local regulator reacts forcefully.

KYC360

Aug 18, 2023

 
Roundup

KYC360 Weekly Roundup - 11th Aug 2023

This week, an outgoing, high-ranking US DoJ official predicts some large corporate settlements in the pipeline from investigations he’s been working on.

KYC360

Aug 11, 2023

 
Roundup

KYC360 Weekly Roundup - 4th Aug 2023

This week the US Securities and Exchange Commission publishes a risk alert based on AML failings they’ve been observing in the broking sector.

KYC360

Aug 04, 2023

 
Roundup

KYC360 Weekly Roundup - 28th Jul 2023

In AML news this week the US makes progress towards regulation and the FSB publishes its crypto regulation proposals.

KYC360

Jul 28, 2023

 
Roundup

KYC360 Weekly Roundup

In AML news this week, the US Federal Reserve fines Deutsche Bank $186m over historic AML failings.

KYC360

Jul 21, 2023

 
Roundup

KYC360 Weekly Roundup - 14th Jul 2023

In our AML news this week, the European Banking Authority highlights inconsistencies and poor practice by AML regulatory bodies across the continent.

KYC360

Jul 14, 2023

 
Roundup

KYC360 Weekly Roundup - 7th Jul 2023

In our AML news this week, the UK Treasury is launching a consultation looking at the supervisory system around money laundering and terrorist financing.

KYC360

Jul 07, 2023

 
Roundup

KYC360 Weekly Roundup - 30th Jun 2023

In our AML news this week, the Financial Action Task Force, adds an EU member state to its list of countries under increased monitoring.

KYC360

Jun 30, 2023

 
Roundup

KYC360 Weekly Roundup - 23rd Jun 2023

This week, we highlight an article discussing the importance of investing in digital KYC to help speed up the process but without sacrificing accuracy.

KYC360

Jun 23, 2023

 
Roundup

KYC360 Weekly Roundup - 16th Jun 2023

In our AML news this week, the UK’s HMRC issued fines to 240 businesses in the last six months of 2022 and it’s likely we’ll see even more in future.

KYC360

Jun 16, 2023

 
Roundup

KYC360 Weekly Roundup - 9th Jun 2023

KYC Roundup - IMF recommend AML rules to help fight tax crime

KYC360

Jun 09, 2023

 
Roundup

KYC360 Weekly Roundup - 26th May 2023

KYC Roundup - Money laundering regulations harming humanitarian groups

KYC360

May 26, 2023

 
Roundup

KYC360 Weekly Roundup - 19th May 2023

AML news this week looks at ways to regulate Crypto and other virtual assets, as governments are beginning to bring regulatory rules to the industry.

KYC360

May 19, 2023

 
Roundup

KYC360 Weekly Roundup - 12th May 2023

AML news this week looks at the challenges facing gambling and gaming as pressure mounts to improve anti-money laundering and the safeguarding of players.

KYC360

May 12, 2023

 
Roundup

KYC360 Weekly Roundup - 5th May 2023

AML news this week looks at ESG and how it is gaining traction for consumers when making purchasing and employment decisions.

KYC360

May 05, 2023

 
Roundup

KYC360 Weekly Roundup - 28th Apr 2023

AML news this week looks at crypto regulation with Coinbase taking the SEC to court to force it to respond to formal rule making on digital assets.

KYC360

Apr 28, 2023

 
Roundup

KYC360 Weekly Roundup - 21st Apr 2023

Many countries have introduced legislation designed to encourage and protect whistleblowers, but the US has recently passed a law that is a gamechanger.

KYC360

Apr 21, 2023

 
Roundup

KYC360 Weekly Roundup - 14th Apr 2023

AML news this week looks at details sportswashing and how government and businesses exploit people’s love of sport to wash their image clean.

KYC360

Apr 14, 2023

 
Roundup

KYC360 Weekly Roundup - 31st Mar 2023

Following the purchase of Credit Suisse by UBS, concerns about a wider banking crisis seem to be abating although central bankers remain on high alert.

KYC360

Mar 31, 2023

 
Roundup

KYC360 Weekly Roundup - 24th Mar 2023

This week we deliver updates on the current banking crisis together with analyses and opinions from different sources.

KYC360

Mar 24, 2023

 
Roundup

KYC360 Weekly Roundup - 17th Mar 2023

AML news this week looks at the disastrous collapse of Silicon Valley Bank and New York’s Signature Bank.

KYC360

Mar 17, 2023

 
Roundup

KYC360 Weekly Roundup - 10th Mar 2023

AML news this week looks at the implications of ‘greenwashing’ and what is being done to stamp out this deceitful and damaging practice.

KYC360

Mar 10, 2023

 
Roundup

KYC360 Weekly Roundup - 3rd Mar 2023

AML news this week looks at the Financial Action Task Force Plenary which took place on 22-24 February and concluded FATF Week.

KYC360

Mar 03, 2023

 
Roundup

KYC360 Weekly Roundup - 24th Feb 2023

This week, we look at the Russia sanctions regime one year on, report on new measures and its ongoing effectiveness. 

KYC360

Feb 24, 2023

 
Roundup

KYC360 Weekly Roundup - 17th Feb 2023

AML news this week looks at the the challenges facing the gambling and gaming sector and the damage that can ensure from failure to comply with the rules.

KYC360

Feb 17, 2023

 
Roundup

KYC360 Weekly Roundup - 10th Feb 2023

This week we reveal a range of new legislation and initiatives that are being introduced to protect whistleblowers.

KYC360

Feb 10, 2023

 
Roundup

KYC360 Weekly Roundup - 3rd Feb 2023

KYC Roundup - Regulators Target Crypto Sector

KYC360

Feb 03, 2023

 
Roundup

KYC360 Weekly Roundup - 27 Jan 2023

AML news this week looks at why Real Estate remains one of the fastest growing targets for money launderers.

KYC360

Jan 27, 2023

 
Roundup

KYC360 Weekly Roundup - 20th Jan 2023

This week we lead with an examination of the growing role of corruption in influencing parliamentary democracies.

KYC360

Jan 20, 2023

 
Roundup

KYC360 Weekly Roundup - 13th Jan 2023

AML news this week looks at why the crypto sector is facing a sustained period of upheaval and instability.

KYC360

Jan 13, 2023

 
Roundup

KYC360 Weekly Roundup - 6th Jan 2023

AML news this week looks at key compliance regulations that are predicted to come into force in 2023 and will require increased due diligence.

KYC360

Jan 06, 2023

 
Roundup

KYC360 Weekly Roundup - 23rd Dec 2022

The most recent updates appear to be following the trend of reversing, blocking or introducing initiatives that will ultimately benefit criminals.

KYC360

Dec 23, 2022

 
Roundup

KYC360 Weekly Roundup - 16th Dec 2022

EU Court UBO Ruling

KYC360

Dec 16, 2022

 
Roundup

KYC360 Weekly Roundup - 9th Dec 2022

This week we lead on the ever-present threat of frauds and scams from criminals who use deception to make personal gain at the expense of their victims.

KYC360

Dec 09, 2022

 
Roundup

KYC360 Weekly Roundup - 25th Nov 2022

AML news this week looks at cryptocurrencies and the mounting call for greater regulation of the entire crypto sector.

KYC360

Nov 25, 2022

 
Roundup

KYC360 Weekly Roundup - 18th Nov 2022

In this week’s roundup we focus on the collapse of the cryptocurrency exchange, FTX.

KYC360

Nov 18, 2022

 
Roundup

KYC360 Weekly Roundup - 4th Nov 2022

This week we examine the most recent advances in this arena and how they are impacting the compliance landscape.

KYC360

Nov 04, 2022

 
Roundup

KYC360 Weekly Roundup - 28th Oct 2022

AML news this week looks at environmental crime, which if left unchecked will ultimately affect every single living being on the planet.

KYC360

Oct 28, 2022

 
Roundup

KYC360 Weekly Roundup - 21st Oct 2022

AML news this week looks at modern slavery and ask what steps can be taken to convert words into actions?

KYC360

Oct 21, 2022

 
Roundup

KYC360 Weekly Roundup - 14th Oct 2022

In AML news this week we shine the spotlight on politically exposed persons (PEPs). Their position and influence can often lead to systematic abuse.

KYC360

Oct 14, 2022

 
Roundup

KYC360 Weekly Roundup - 7th Oct 2022

AML news this week looks at reach of the regulatory and enforcement authorities outside financial services.

KYC360

Oct 07, 2022

 
Roundup

KYC360 Weekly Roundup - 30th Sep 2022

KYC Roundup - Spotlight on Corruption

KYC360

Sep 30, 2022

 
Roundup

KYC360 Weekly Roundup - 23rd Sep 2022

AML news this week looks at the Wirecard debacle - a perfect storm of money laundering, fraud, inaction by regulatory authorities, and auditing failures.

KYC360

Sep 23, 2022

 
Roundup

KYC360 Weekly Roundup - 16th Sep 2022

AML news this week looks at Web3 the vision of a new internet which uses blockchains, cryptocurrencies, and NFTs to give power back to the users.

KYC360

Sep 16, 2022

 
Roundup

KYC360 Weekly Roundup - 9th Sep 2022

AML news this week looks at the growing menace of environmental crime.

KYC360

Sep 09, 2022

 
Roundup

KYC360 Weekly Roundup - 18th Aug 2022

Spotlight on Corruption – Legislation – Sanctions – Crypto – Money Laundering, Bribery

KYC360

Aug 19, 2022

 
Roundup

KYC360 Weekly Roundup - 5th Aug 2022

Human trafficking has no place in our world. Which is why this week we shine a light on this most wicked of crimes against humanity.

KYC360

Aug 05, 2022

 
Roundup

KYC360 Weekly Roundup - 29th Jul 2022

This week we turn the spotlight on how terrorists finance their attacks, often via wire transfers, electronic payments, and cryptocurrencies

KYC360

Jul 29, 2022

 
Roundup

KYC360 Weekly Roundup - 22nd Jul 2022

This week we turn the spotlight on drug cartels, following the much-vaunted arrest of a major Mexican drug lord.

KYC360

Jul 22, 2022

 
Roundup

KYC360 Weekly Roundup - 15th Jul 2022

AML news this week looks at the Uber Files and how they provide insight into how Uber used $90 million to fund backroom deals and high-level lobbying

KYC360

Jul 15, 2022

 
Roundup

KYC360 Weekly Roundup - 1st Jul 2022

This week, we lead by acknowledging World Whistleblowers Day 2022 and the role played by the often-unsung heroes.

KYC360

Jul 01, 2022

 
Roundup

KYC360 Weekly Roundup - 23rd Jun 2022

Sanctions against Russia have slowed, with many Western countries now seeking ways to monitor the activities of sanctioned individuals and entities.

KYC360

Jun 23, 2022

 
Roundup

KYC360 Weekly Roundup - 17th Jun 2022

The 2022 FATF Plenary was held in Berlin this week, with several countries anxiously awaiting to discover if they will be taken off the grey list.

KYC360

Jun 17, 2022

 
Roundup

KYC360 Weekly Roundup - 10th Jun 2022

KYC Roundup - As the conflict in Ukraine grinds into a war of attrition, its effects are increasingly being felt around the world.

KYC360

Jun 10, 2022

 
Roundup

KYC360 Weekly Roundup - 27th May 2022

While the rate of which sanctions being imposed against Russia has slowed , their effects are being felt across the broadest spectrum of society.

KYC360

May 27, 2022