Mastering KYC onboarding to combat financial crimes effectively
The KYC (Know Your Customer) onboarding process is not just a regulatory formality; it's a critical defense mechanism for banks and financial institutions against the threats of money laundering, terrorism financing, and other unlawful activities.
Beyond the metrics: Understanding what ESG scores can and can’t do
The debate surrounding the acronym of ESG has evolved from divisive to disappointing within the financial services sector.
OPBAS reports uneven progress among anti-money laundering supervisors
The OPBAS, functioning under the FCA, has identified ongoing inconsistencies in the supervisory efforts of the UK’s PBSs in combating money laundering.
Hong Kong advances digital currency innovation with new phase of e-HKD Pilot
The HKMA has initiated Phase 2 of the e-HKD Pilot Programme, known as Project e-HKD+, on September 23.
Enhancing trust and compliance in business networks through effective KYB strategies
Corporate onboarding encompasses processes critical for meeting regulatory demands, including AML compliance and thorough business verification to prevent financial crime.
The critical role of enhanced due diligence in AML compliance
Enhanced Due Diligence (EDD) represents an advanced level of scrutiny, serving as a crucial component beyond basic KYC checks.
The essential guide to Know Your Business verification processes
KYB, or Know Your Business, is an essential process for businesses engaging with other companies. It serves as the backbone of safe, compliant third-party relationships, enabling firms to assess and manage potential risks before formalizing business agreements.
Hummingbird acquires LogicLoop: Revolutionizing risk management with advanced data integration
Hummingbird, a leader in financial crime risk management, has announced the strategic acquisition of LogicLoop, known for its pioneering no-code data integration and automation technology.
How FinCEN’s new AML/CFT proposal leverages AI for better compliance
In a move to modernize AML/CFT frameworks, the U.S. Department of the Treasury's FinCEN has unveiled a proposal under the Anti-Money Laundering Act of 2020.
Hong Kong and Dubai strengthen ties in sustainable finance with new agreement
The HKMA and the DFSA have taken a step towards strengthening sustainable finance by hosting their first Joint Climate Finance Conference.
