Tag: due diligence

In the ever-evolving landscape of financial services, maintaining regulatory compliance is not just a legal requirement but a strategic advantage. As financial institutions navigate...

The Inland Revenue Authority of Singapore (IRAS) has released the third edition of the Common Reporting Standard (CRS) e-Tax Guide on January 12, 2024. The guide is instrumental for Singaporean Financial Institutions (SGFIs), outlining the nation's adoption of CRS, and providing crucial guidance on compliance obligations under the CRS framework.

The European Union (EU) has recently made a significant stride in fortifying its defenses against money laundering and terrorist financing. A provisional agreement reached...

The United Kingdom has emerged as the global hotspot for shell company risks, according to the latest interactive research unveiled by Moody’s Analytics.

On January 10, 2024, a pivotal shift in the UK's regulatory framework will unfold as the Money Laundering and Terrorist Financing (Amendment) Regulations 2023 come into effect.

In September 2023, the Financial Conduct Authority (FCA) provided fresh guidance about how to treat Politically Exposed Persons (PEPs). In response to this, businesses under regulation might find it beneficial to revisit their existing PEPs screening systems. This not only ensures alignment with the new directive but also makes certain that the screening process remains both effective and efficient.

Flagright recently detailed how financial industry companies can manage third-party risks in compliance solutions.

Final guidelines aimed at bolstering third-party risk management in banking organisations have been issued by a cohort of federal bank regulatory agencies.

RegTech startup Naq, an automated data compliance and due diligence platform, has secured $1.5m in its seed funding round.

Customer risk assessments are a vital part of AML and KYC processes. Flagright, an all-in-one AML compliance system, has outlined the best practices of an assessment process.