Tag: Politically Exposed Persons
FCA’s new guidelines on PEPs: A shift towards risk-sensitive compliance
In July 2024, the FCA initiated a crucial dialogue within the financial sector by opening a consultation aimed at refining the treatment of PEPs.
FCA calls for stricter yet fairer treatment of politically exposed persons
The Financial Conduct Authority (FCA) has recently mandated that financial institutions, including banks, payment firms, and lenders, enhance their protocols to ensure fair treatment of politically exposed persons (PEPs).
The intersection of KYB and AML: A guide to business identity...
Know Your Business (KYB) and Anti-Money Laundering (AML) are critical parts of the compliance ecosystem, but how aligned are they? FullCircl, a SaaS platform renowned for eliminating regulatory and verification hurdles, recently delved into the role of KYB in the AML process.
Navigating the intricacies of PEP identification in FinTech compliance
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...
Adapting to change: How the UK’s latest money laundering amendments impact...
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.
Unlocking the secrets of enhanced due diligence in global finance
The world of global finance comes with its share of dangers. From the looming shadows of money laundering to the menace of terrorist financing,...
Mitigating financial crime: A closer look at adverse media screening
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.
Regulatory DataCorp brings in new CEO
Regulatory DataCorp, a provider of compliance screening, has appointed Tom Walsh as its news Chief Executive Officer.
