Tags Customer Identification Program

Tag: Customer Identification Program

How the latest AML/CFT proposals will reshape investment advisory

The world of finance is on the brink of a significant transformation, especially for investment advisors in the United States. On February 15th, 2024, a pivotal announcement was made by the Financial Crimes Enforcement Network (FinCEN) that is set to redefine the landscape of anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance.

Unravelling the importance of CIP rules for financial institutions

Financial institutions often fall prey to money launderers who exploit these platforms to funnel, mask, transfer, and cleanse ill-gotten gains. This doesn’t just endanger...

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