compliance
Top StoriesUK Announces New Tranche of Trade Sanctions Against Russia
TechnologyAI – the Hidden Weapon in the Battle Against Financial Crime
Top StoriesBritain’s Markets Watchdog Fines Insurance Broker Jlt Specialty $10 Million
BankingThe Open Banking Market Lacks Standardized Global Regulation: Why It’s a Problem
Use of Airline Passenger Data Must Be Limited, Top EU Court Says
Date: June 21, 2022
By Foo Yun Chee BRUSSELS (Reuters) -EU states may only gather the airline passenger data strictly necessary to combat serious crime and terrorism, Europe’s top court said on Tuesday, and banned the use of machine learning to harvest the data. The Passenger Name Record Directive (PNR), adopted in 2016, allows police and justice officials to...
Belarus Says It Is Resuming Verification Activities Under Arms Control Treaties
Date: June 20, 2022
LONDON (Reuters) – Belarus’ defence ministry said on Monday that the country was resuming verification activities under existing international arms control treaties after a two-year hiatus prompted by the coronavirus pandemic. In a statement, the defence ministry said it had sent notification to participating states of the Organisation for Security and Cooperation in Europe (OSCE)...
Factbox: Companies Sell Their Businesses in Russia
Date: June 17, 2022
(Reuters) – Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they scramble to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. The moves, part of a broader corporate exodus from the country, are...
Forensic Risk Alliance (fra) Continues to Grow Middle East and Africa Practice With New Hire
Date: June 15, 2022
Senior GRC and banking expert Temi Labor has joined FRA’s Dubai office strengthening its financial services offering. 15 June 2022, Dubai, United Arab Emirates: Forensic Risk Alliance (FRA), the leading forensic accounting, data analytics and eDiscovery consultancy, is pleased to announce the appointment of Temi Labor as Associate Director for its Dubai office. FRA launched...
Global AML Trends 2022: Where Do We Stand?
Date: June 14, 2022
By Fran Garvey, Solicitor, Business Crime – Howard Kennedy LLP Anti-money laundering (AML) regulations and enforcement globally have never been stricter. Corporations face an ever-expanding list of obligations and expectations from regulators as the world adapts to the threats of post-pandemic working practices, cryptocurrencies and virtual assets and political uncertainty. As we stand at the...
Potholes Encountered on Recent KYC and AML Journeys
Date: June 14, 2022
By Rupert D.E. Brown, CTO Evidology Systems Continuing attempts to improve Know Your Customer (KYC) processes and Anti Money Laundering (AML) controls would appear to be very fragmented and not done in collaboration with businesses and the representatives which must operate within them. Target Organisations Established UK High Street banks and their more recent “challenger”...