Compliance Practice
Practical guidance for professionals responsible for AML/CFT compliance. This section covers customer due diligence, identity verification, beneficial ownership, risk assessment, enhanced due diligence, screening, ongoing monitoring, suspicious transaction reporting and compliance record keeping.
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UK Solicitors Face Sharper Source-of-Funds Expectations as SRA Updates AML Risk Assessment
The Solicitors Regulation Authority has sharpened its expectations around source-of-funds and source-of-wealth checks in its updated sectoral risk assessment for anti-money laundering, terrorist financing, proliferation…
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FinCEN Convenes Banks and Law Enforcement on Hospice Fraud and Money Laundering Risks
The U.S. Financial Crimes Enforcement Network (FinCEN) convened law enforcement agencies and financial institutions in Los Angeles on 17 August 2026 to examine fraud involving…
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Saudi Banks Apply Enhanced AML Checks to UAE-Bound Transfers, Reuters Reports
Saudi banks have begun applying additional anti-money laundering and counter-terrorist financing checks to transfers destined for the United Arab Emirates, according to a Reuters report…
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Binance Data Disclosure to Russian Authorities Raises Cross-Border Compliance Questions
Binance provided Russian investigators with customer identity documents and transaction records that were later used in a terrorism-financing case against a Russian IT specialist who…
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Fragmented Ownership Is Undermining Financial Crime Risk Assessments
Financial crime risk assessments can fail even when the methodology itself appears sound if accountability is fragmented across too many functions, according to new analysis…
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FCA Review Finds Financial Crime Control Gaps Across Asset Managers and Private Markets
The UK Financial Conduct Authority’s 22 July 2026 review of financial-crime controls across asset-management and alternatives firms found material gaps in risk assessment, customer due…
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EU Instant Payments Rules Shift Sanctions Screening Toward Daily Customer Checks
The EU’s Instant Payments Regulation is forcing payment service providers to rethink how sanctions controls are built into real-time euro payments, as the regulatory framework…
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UK Lawmakers Press Banks Over Access for Crypto and Digital Asset Firms
UK lawmakers are increasing pressure on banks to explain how they provide services to crypto and digital asset businesses, warning that restrictions on banking access…
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BaFin Issues Formal AML Warning to Former Managing Director
Germany’s financial regulator BaFin has issued a formal warning to a former managing director over serious and persistent deficiencies in arrangements designed to prevent money…
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OCC Rejects Bunq US Charter Over Compliance Concerns
The OCC has rejected Dutch fintech Bunq’s US national bank charter application, citing significant compliance concerns and slowing its American expansion.
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