Financial crime is a significant social threat and a constant concern for financial institutions and money service businesses. Two of the most prominent financial crimes are 'Money Laundering' and 'Terrorist Financing.' Banks face millions of Pounds in penalties due to any lapse in implementing Anti-Money...
With the rise of online scams and the heightened attention of regulators around the world on Money Laundering and Terrorist Financing, it's no surprise regulated industries are increasingly taking AML and KYC training more seriously. However, what does this training look like, and when should...
The KYC and AML compliance requirements are impacting businesses globally who are now having to comply with AML regulations due to now fall under in scope regulated industries, so now is the perfect time to review and implement better AML/KYC programs. But given these new...
Want to enhance your knowledge in anti-money laundering and Know Your Customer but don’t know where to start? Doing an AML/KYC online course is a great way to gain a better understanding of what the role involves as well as gain a certification to get...
A politically exposed person or a PEP as they are better known, is someone who has access to public influence or public money, for example a politician. With having this position, it will make that person or persons more susceptible to corruption or other criminal...
Sanctions are political trade tools, mainly put in place against target countries with the aim of maintaining or restoring international peace and security.Their principal purpose is usually to change the behaviour of the target country’s regimes, individuals or groups in a direction which will improve...
A hedge fund is an alternative investment vehicle in which investors contributions are pooled and invested on their behalf in a portfolio of securities, commodity futures contracts or other assets. Hedge funds work either as private investment partnerships or offshore investment corporations and are not...
A Risk Based Approach means companies should identify, assess and understand the money laundering and terrorist financial risk of their customers, this is determined by evaluating each individual customer on their own merit and not using a ruled based approach where all customers are treated...
Customer Due Diligence or CDD, as it is also known as, is the process and procedures companies follow to gather sufficient information on a new customer or existing customer and to assess the risks of doing business with them whether it is at the start...
During the lifespan of a relationship with a customer as an analyst or relationship manager you should always be aware of the following behaviours that indicate a customer might be undertaking money laundering or terrorist financing. We list some of the red flags or indicators to...
