Understanding the KYC roles and responsibilities is essential, "Know Your Customer" (KYC) policies are designed to prevent financial crimes like...
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KYC and AML are regulatory frameworks aimed at reducing financial crimes and promoting transparency in banking. KYC (Know Your Customer):...
Money laundering is a global issue that impacts both corporate sectors and financial institutions. But what exactly does it mean...
Financial crime compliance (FCC) has become a critical focus area for organisations striving to maintain integrity and reputation. As financial...
The growing demand for financial transparency has placed Know Your Customer (KYC) analysts in a critical role within financial institutions....
As the cryptocurrency market expands, so does the need for stringent Anti-Money Laundering (AML) measures. AML obligations for cryptocurrency exchanges...
Knowledgebase / 13.11.2024
Starling Bank ‘Shockingly Lax’ AML Controls
Starling Bank, a prominent digital bank in the UK, was fined £29 million by the Financial Conduct Authority (FCA) due...
The Panama Papers leak exposed how the world’s elite used offshore companies and secret accounts to hide wealth, evade taxes,...
In 2021, NatWest was fined £264 million for failing to prevent the laundering of nearly £400 million by a single...
Deutsche Bank was handed a $186 million fine by the U.S. Federal Reserve in 2023 for failing to adequately address...