Hundreds of firms in the sector took part in the FCA review and shared details about their business models and risk identification and control systems.
Customer due diligence
The FCA is auditing how supervised firms manage their compliance systems – we take a look at good and poor practices.
Issues highlighted in the report include the quality of customer risk assessment, detailed practical guidance, recordkeeping, and independent second-line assurance.
The Swedish Financial Supervisory Authority fined Klarna for violation of several key rules of AML regulations.
What are the implications of AI adoption in the financial sector? We take a look at the key findings from FSB’s latest report.
Two money remittance service provides have both failed to comply with the Act on the Prevention of Money Laundering and Terrorist Financing.
New rule outlines access and safeguard provisions of the Corporate Transparency Act.
Analysis of recent moves by the Cayman Islands authorities suggest a more robust approach is coming.