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KYC Utilities: The Promised Silver Bullet for Nordic Banks?
The Nordic banking landscape has witnessed significant upheaval over the past few years, moving from an untarnished reputation for having the safest financial institutions in the world to being mired in a number of complex, global money-laundering scandals
6 Ways FATFs Changes to Ultimate Beneficial Ownership will Affect Your Risk Based Approach
Anyone without a strong compliance background may wonder why the Financial Action Task Force (FATF) matters as it’s only an advisory body, but this advice often becomes international law. So, the changes to Recommendation 24 should be considered carefully.
Why transaction monitoring for crypto is an open book
Whether you believe cryptocurrency is a Ponzi scheme or a new universal value instrument – Gold 2.0, as some call it – investors are putting “real” money in and taking fiat currency out. These transactions happen atcryptocurrency exchangessuch as Bitonic i
Where might the EU’s decision to label gas and nuclear green leave financial institutions?
This week the EU parliament announced that it has backed EU rules to label investments in gas and nuclear power plants as ‘climate friendly’. The vote will become law unless a majority of the block’s member states object it, an unlikely eventaccording to R
Real-time transaction monitoring: is your compliance team up to date?
Led by the digital transformation and the disruptive technologies that have enabled it, the world of finance services is evolving fast. Although this is great for consumers, things are moving at such a fast pace that financial institutions, merchants, and
We Need Tougher Regulation to Avoid a Repeat of the FTX Fiasco
The sorry tale of FTX’s collapse is not so much a story of the crypto industry but more about the need for even tighter regulation. How could a company the size of FTX, which had more than one million users at its peak, operate for so long with no clear re
How to navigate transaction monitoring during a recession
The dynamic and intricately connected world of modern-day finance has placed increased pressure on anti-money laundering and other anti-financial crime measures for regulated businesses. Knowing how to handletransaction monitoringduring a recession is more
KYC Utilities: The Second Coming, Learning from Past Failures
In the previous blog, I examined the current compliance challenge and how e-KYC utilities can solve the age-old challenges of collection, validation and processing of customer data and documentation. In this blog, I look at the KYC utility models of the pa
Middle East in Focus: De-Risking & the Rise of RegTech
In previous blogs in this series, we’ve touched upon a few themes which include the perception of the Middle East as having a “lighter touch” regulatory framework and carrying a “higher risk”. Despite the fact that Middle East regulators are becoming stric
Examining Beneficial Ownership Register Adoption in APAC
In 2014, FATF published a guidance paper, ‘Transparency and Beneficial Ownership’, aimed at assisting countries in implementing measures to address Recommendations 24 and 25 relating to transparency and beneficial ownership of legal persons (R24) and arran
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