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Streamlining UBO verification with AI-powered KYC tools
Identifying ultimate beneficial owners (UBOs) remains one of the toughest challenges for compliance teams conducting customer due diligence (CDD).
According to KYC360, these individuals, who...
How hidden UBOs fuel global tax evasion risks
Tax evasion is more than just tax avoidance gone too far. It is a serious offence that drains economies of an estimated half a...
Impactful disruption in AML: What’s changing in 2025
As the industry heads into the summer conference season, the mood among anti-money laundering (AML), fraud, and regulatory risk professionals is one of cautious...
Seven key insights into the US’s beneficial ownership reporting requirements
In a stride towards combating financial crimes, the US introduced the CTA, designed to peel back the layers of secrecy often associated with business...
Navigating regulatory challenges amidst shifting global trends
As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of...
Navigating the Corporate Transparency Act: A guide to the new US...
The Corporate Transparency Act (CTA) ushered in a significant shift in beneficial ownership reporting requirements starting from January 1, 2024. This change is more...
US regulatory priorities in 2023 & the coming years
In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three quarters of the world’s $4.2bn total. 2023 continued this trend, with US financial institutions paying 83% ($157.26m) of total penalty dollars, a stark contrast to their 10% share in global regulatory violations.
