Tag: KYC

Paytm Payments Bank has been penalised INR 5.4 crore by the RBI owing to its failure to adhere to KYC instructions.

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.

The UK Government is diving headfirst into a comprehensive review of all regulators within its jurisdiction. Their goal? To eliminate unnecessary bureaucratic obstacles, making the most of the liberties afforded post-Brexit.

Know Your Customer processes have been a long-standing aspect of the onboarding process - but are automated KYC processes coming?

The world of global finance comes with its share of dangers. From the looming shadows of money laundering to the menace of terrorist financing,...

In a recent whitepaper by RegTech firm Encompass Corporation, the company outlined what could be a smarter approach for KYC for businesses. 

Encompass Corporation, a provider of a KYC process automation platform, has recently been celebrated for its achievements at the Sibos 2023 event.

Know Your Customer has joined forces with the Hong Kong Monetary Authority (HKMA) and its Commercial Data Interchange (CDI).

KYC practices have been long used in the financial sector. However, with fraud and financial crime more prevalent than ever, is perpetual KYC the evident next step?

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...