Tag: CDD

Buying a home is a significant milestone, but the process can be fraught with complexity—especially when it comes to anti-money laundering (AML) checks. As...

When criminal organisations generate illegal profits, they must clean or ‘launder’ the money before it can be safely used in the legitimate economy. This is typically done through a carefully structured three-stage process. Understanding these stages is vital for businesses implementing anti-money laundering (AML) strategies, as it can help identify potential criminal activity.

KYC Portal CLM has announced a strategic collaboration with PwC United Kingdom (UK) and PwC Channel Islands (CI), combining their expertise to deliver enhanced value for organisations worldwide.

As financial institutions navigate an increasingly complex regulatory environment, many are finding that cloud technology offers a reliable solution for future-proofing compliance efforts. The move to cloud-based financial crime compliance not only enhances agility but also helps institutions meet stringent regulatory requirements more effectively.

Customer Due Diligence, or CDD, plays a pivotal role in the realms of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF).

SymphonyAI has unveiled a cutting-edge Entity Resolution system designed specifically for the financial sector.

Napier AI has responded to a consultation from HM Treasury, the UK government's economic and finance ministry, on enhancing the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These regulations require businesses to identify and prevent money laundering and terrorist financing.

Balancing a seamless customer onboarding experience with stringent compliance measures can be challenging. RelyComply, an intelligent AML compliance platform, recently outlined strategies and best practices to streamline the KYC/CDD process, helping businesses navigate anti-money laundering (AML) regulations while enhancing customer satisfaction.

In the dynamic landscape of anti-money laundering (AML) efforts, financial institutions are facing intensified scrutiny to stay a step ahead of increasingly sophisticated criminal tactics and rigorous regulatory demands.

In an industry-wide call to action, several prominent associations have voiced their concerns over the potential consequences of the current draft text of Recital 34 in the Anti-Money Laundering (AML) Regulation.