Knowledge Hub
The latest news, commentary and events from KYC360.
KYC360 top picks
KYC360 Weekly Roundup - 8th November 2024
In the AML arena, Elizabeth Warren condemned the DOJ’s soft stance on TD Bank executives and the UK released new guidance for fraud prevention measures.
KYC360
Nov 08, 2024
Lessons From TD Bank and How to Avoid Billion Dollar Fines
A comprehensive examination of the recent fine imposed on TD Bank.
KYC360
Nov 04, 2024
KYC360 Weekly Roundup - 1st November 2024
In the AML arena, a former Latvian bank boss was convicted for ordering the murder of a whistleblower.
KYC360
Nov 01, 2024
Lessons From TD Bank and How to Avoid Billion Dollar Fines
A comprehensive examination of the recent fine imposed on TD Bank.
KYC360
Nov 04, 2024
Recordings: Annual KYC360 Forum 2024
View recordings from the Annual KYC360 Forum and hear from world leading experts and thought leaders in the AML space.
KYC360
Oct 11, 2024
KYC360 Partners with LSEG Risk Intelligence
KYC360 partners with LSEG Risk Intelligence to streamline identity verification and onboarding solutions
KYC360
Nov 14, 2024
How to Efficiently Screen High-Risk Customers
Learn how financial institutions can proactively manage high-risk customers using KYC360's Live AVM Monitoring Module.
KYC360
Nov 12, 2024
What the Banking Industry Can Learn from Formula 1
Discover how the banking industry can transform risk management by drawing insights from Formula 1's data-driven strategies.
KYC360
Nov 12, 2024
Secondary Sanctions and Risk Management
Explore the complexities of secondary sanctions and their impact on financial institutions. Learn how proactive compliance measures help mitigate risks, ensure regulatory alignment, and protect reputation.
KYC360
Nov 08, 2024
Why Banks Need to Clean Up Their Act Before the Regulators Do It for Them
Discover why KYC remediation is crucial for banks to avoid costly fines, safeguard their reputations and comply with AML laws. Learn how proactive KYC strategies can prevent financial crime.
KYC360
Nov 08, 2024
AML Failures at Lake Elsinore Casino
See the key lessons learned from AML failures at Lake Elsinore Casino.
KYC360
Nov 05, 2024
Key Takeaways from TD Bank’s Record Fine for AML Failures
TD Bank was hit with a record $3 billion fine from U.S. regulators for significant anti-money laundering (AML) failings and violations of the Bank Secrecy Act (BSA).
KYC360
Oct 31, 2024
KYC360 Annual Forum: Key Takeaways
See the key takeaways from experts and industry leaders at the annual KYC360 forum.
KYC360
Oct 21, 2024
How to Prepare for Australia's New AML/CTF Regulations
Jersey’s fifth round Mutual Evaluation by MONEYVAL marks a significant milestone for the island as an International Finance Centre (IFC).
KYC360
Oct 21, 2024
KYC360 Recognised by Chartis as a Category Leader for KYC Solutions
KYC360 is proud to be recognised as a category leader in the 2024 Chartis KYC and Data Solutions Report
KYC360
Oct 03, 2024
Jersey’s Fifth Round MONEYVAL Mutual Evaluation
Jersey’s fifth round Mutual Evaluation by MONEYVAL marks a significant milestone for the island as an International Finance Centre (IFC).
KYC360
Sep 17, 2024
KYC360 Partners with Vantage to Scale Customer Lifecycle Management Solutions
KYC360 partners with Vantage, a technology consulting expert for financial services, to help organisations comply and excel in customer lifecycle management.
KYC360
Aug 29, 2024
Key AML Challenges in Luxembourg’s Financial Sector
The financial sector in Luxembourg faces significant challenges with implementing effective AML/CFT measures
KYC360
Aug 16, 2024
KYC360 Announces Networked KYC Solution
KYC360 is proud to announce the launch of Networked KYC (nKYC). This innovative solution streamlines the onboarding process between multiple parties.
KYC360
Aug 12, 2024
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
Key Takeaways from Director of High-Risk Clients at Standard Chartered
Nick Lewis brought invaluable insights into how financial institutions can better manage high-risk relationships.
KYC360
Jul 02, 2024
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
KYC360 recognised as category leader in Chartis RiskTech Watchlist
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
KYC360 appoints former Director-General of JFSC to advisory board
KYC360 is delighted to announce the appointment of John Harris to our advisory board.
KYC360
Apr 22, 2024
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
RiskScreen rebrands as KYC360
Today marks an exciting chapter for RiskScreen as we proudly unveil our new identity as KYC360.
KYC360
Dec 20, 2023
How We Enabled a Gambling Operator to Validate Player Addresses Efficiently
A leading software provider of online gaming platforms was supplying an operator in the Netherlands and faced difficulties in validating player addresses
KYC360
Oct 09, 2024
How We Helped a Global Bank Remediate Over 150,000 Customers in Three Months
Following the acquisition of a specialist fund administrator by a major global Bank, it was identified that the existing KYC information held for the investors serviced by the company was not fully aligned with the Bank’s global standards.
KYC360
Oct 08, 2024
Transforming Onboarding and Screening for VEON
Prior to implementing the KYC360 platform, VEON utilised a legacy platform that had become outdated due to evolving regulatory requirements.
KYC360
Sep 12, 2024
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
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
Revolutionising onboarding and screening for Altum Group
Revolutionising Onboarding and Screening integrated with NavOne for Altum Group.
KYC360
Dec 19, 2023
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
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
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
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
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
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
The Definitive Guide to KYC Remediation
The Definitive Guide to KYC Remediation - An in-depth look into the challenges, role of automation technology and strategies for success.
KYC360
Aug 28, 2024
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
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
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
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
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
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
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
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
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
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
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
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
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
2022 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
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
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
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
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
Key Takeaways: UK AML Regulations in Focus
Tom Devlin, CCO and Co-Founder at KYC360 was joined by Neil Swift, Partner at Peters & Peters. They discussed the evolving UK Anti-Money Laundering (AML) landscape and took a detailed look at key compliance trends and enforcement risks.
KYC360
Nov 04, 2024
Anti-Money Laundering Regulations: A Comprehensive Guide
In this guide, you will learn the fundamentals of money laundering, the global regulatory landscape, the role of emerging technologies and the best practices to remain compliant.
KYC360
Nov 04, 2024
A Guide to UBO - Ultimate Beneficial Ownership
Learn more about why UBO is important, how to find it, various regulations around the world and the specific UBO identification responsibilities.
KYC360
Sep 19, 2024
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
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
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
KYC360 Weekly Roundup - 8th November 2024
In the AML arena, Elizabeth Warren condemned the DOJ’s soft stance on TD Bank executives and the UK released new guidance for fraud prevention measures.
KYC360
Nov 08, 2024
KYC360 Weekly Roundup - 1st November 2024
In the AML arena, a former Latvian bank boss was convicted for ordering the murder of a whistleblower.
KYC360
Nov 01, 2024
KYC360 Weekly Roundup - 25th October 2024
In the AML arena, the FATF Sets Out New Criteria for ‘grey listing’.
KYC360
Oct 25, 2024
KYC360 Weekly Roundup - 18th October 2024
In the AML arena, the FATF is considering blacklisting Russia.
KYC360
Oct 18, 2024
KYC360 Weekly Roundup - 11th October 2024
In the AML arena, TD Bank was fined $3 billion for AML failings.
KYC360
Oct 11, 2024
KYC360 Weekly Roundup - 4th October 2024
In the AML arena, the FCA fines Starling Bank £29 million for AML failings and UK banks are handed new powers to delay payments.
KYC360
Oct 04, 2024
KYC360 Weekly Roundup - 27th September 2024
In the AML arena, Germany shut down 47 cryptocurrency exchanges for a lack of AML controls.
KYC360
Sep 27, 2024
KYC360 Weekly Roundup - 20th September 2024
In the AML arena, the Swiss regulator FINMA confiscated CHF 12.7 million from private bank Mirabaud.
KYC360
Sep 20, 2024
KYC360 Weekly Roundup - 13th September 2024
In the AML arena, the former Swedbank CEO was jailed for 15 months while U.S. banks reported $688 million in cheque fraud over six months.
KYC360
Sep 13, 2024
KYC360 Weekly Roundup - 6th September 2024
In the AML arena, the UK regulator is set to reduce the maximum refund for victims of banking fraud.
KYC360
Sep 06, 2024
KYC360 Weekly Roundup - 30th August 2024
In the AML arena, Nordea Bank pays $35m fine for inadequate AML controls and the Danish regulator ends RBB Bancorp investigation
KYC360
Aug 30, 2024
KYC360 Weekly Roundup - 23rd August 2024
In the AML arena, TD bank set aside a further $2.6 billion for expected AML fines while the German regulator seized €25 million euros
KYC360
Aug 23, 2024
KYC360 Weekly Roundup - 16th August 2024
Top stories this week: Singapore Charges Two Ex-Bankers for Aiding Money Laundering Ring | UK Law Firm Fined £22k for AML Failings
KYC360
Aug 16, 2024
KYC360 Weekly Roundup - 9th August 2024
Top stories this week: Singapore Passes AML Bill | ECB Revokes Banque Havilland’s Banking Licence | UK Law Firm Receives Fine
KYC360
Aug 09, 2024
KYC360 Weekly Roundup - 2nd August 2024
Seven UK Banks Announce Data Sharing Agreement with NCA | Swiss Financial Regulator Reviewing UBS Onboarding of High-Risk Credit Suisse Clients
KYC360
Aug 02, 2024
KYC360 Weekly Roundup - 26th July 2024
MONEYVAL Gives Positive Appraisal of Jersey in Combating Money Laundering | Coinbase Fined £3.5 million for AML Failings
KYC360
Jul 26, 2024
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
KYC360 Weekly Roundup - 8th Mar 2024
In AML news this week the FCA sent Dear CEO letters for AML failings.
KYC360
Mar 08, 2024
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
KYC360 Weekly Roundup - 21st Jul 2023
In AML news this week, the US Federal Reserve fines Deutsche Bank $186m over historic AML failings.
KYC360
Jul 21, 2023
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
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
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
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
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
KYC360 Weekly Roundup - 9th Jun 2023
KYC Roundup - IMF recommend AML rules to help fight tax crime
KYC360
Jun 09, 2023
KYC360 Weekly Roundup - 26th May 2023
KYC Roundup - Money laundering regulations harming humanitarian groups
KYC360
May 26, 2023
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
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
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
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
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
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
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
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
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
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
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
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
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
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
KYC360 Weekly Roundup - 3rd Feb 2023
KYC Roundup - Regulators Target Crypto Sector
KYC360
Feb 03, 2023
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
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
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
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
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
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
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
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
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
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
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