Tag: FATF

Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering...

In a significant development reported in October 2023, the United Arab Emirates (UAE) is on the cusp of being removed from the Financial Action Task Force's (FATF) "grey list."

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.

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

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.

In today's evolving global financial landscape, the security and integrity of financial transactions are of utmost importance. At the heart of this security lie...

Correspondent banking plays a pivotal role in shaping the global financial landscape. Serving as the backbone of international trade, especially for budding and developing economies, it offers a platform for banks to provide services on behalf of other financial institutions, typically situated in diverse countries. This extends to executing transactions, overseeing wire transfers, and collecting crucial documents.

Moody's Analytics recently took the opportunity to explain how screening for politically exposed persons can strengthen KYC processes. 

RegTech firm Arctic Intelligence recently took the opportunity to provide a guide into assessing the impact of ML and TF on your firm. 

Adverse media screening has become an integral component in the finance industry, especially in relation to Anti-Money Laundering (AML) compliance. RegTech company Alessa recently delved into why financial institutions should care about adverse media screening.