Tag: peps

KYCP has announced a new partnership with StartKYC, naming the company its provider of choice for embedded AML screening services. The new partnership aims to...

In financial services, few issues carry as much weight—or as much scrutiny—as anti-money laundering (AML) compliance. The risks of getting it wrong are considerable, from...

LSEG Risk Intelligence has launched World-Check On Demand, a new platform designed to deliver real-time compliance and risk data.

Compliance remains one of the most pressing challenges for businesses in the financial services industry. Striking the right balance between customer safety and seamless...

Fincom, a RegTech company specialising in anti-money laundering (AML) compliance, has completed its Series B funding round, marking a significant step in its international expansion plans.

Australia is moving to overhaul its anti-money laundering and counter-terrorism financing (AML/CTF) framework with a comprehensive new proposal aimed at aligning the country with global standards set by the Financial Action Task Force (FATF).

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 war in Ukraine has underscored how quickly sanction and PEPs lists can change. Since 2022, the US, UK, EU, Australia, Japan and Canada have imposed over 16,500 sanctions on Russia, according to the BBC. The current turbulent geopolitical scene means financial services firms need to be ready for regular, and often sudden, changes to PEPs and sanction lists. FinTech Global recently spoke to several industry players to ask whether financial institutions are keeping up with the modern sanction/PEPs landscape.

In the intricate world of FinTech, the geopolitical landscape plays a pivotal role in shaping compliance and regulatory frameworks. The aftermath of the Russian invasion of Ukraine in February 2022 has dramatically altered the sanctions regime, presenting unprecedented challenges for financial institutions (FIs). This seismic shift, marked by a surge in sanctions against various entities and individuals, underscores the necessity for FIs to adapt swiftly to remain compliant.

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.