Observations from the MAS on name screening practices in midsized and small FIs
MAS recently published this report < https://www.mas.gov.sg/-/media/MAS-Media-Library/publications/monographs-or-information-paper/IMD/2022/Strengthening-AML-CFT-Name-Screening-Practices.pdf >…
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Russia sanctions are on the front page but there is more
The war that Russia wages on Ukraine is on top of the news and as a consequence the world of compliance is focusing on the sanctions imposed on Russia. Rightly so, because that’s where new rules and…
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Financial Warfare
The traditional way nations settle disputes with each other when diplomatic efforts fail is to mobilise their armies and fight it out. While, sadly, this is still far too often the conflict…
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Sanctions: a matter of going up and down the escalation ladder
Economic sanctions are political instruments applied by the international community or individual countries to adjust or punish the acts of a government, a group of persons, entities or individuals.…
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Exit 2021, Welcome 2022!
The rock band Queen would say, “Another one bites the dust”. 2021 is heading for the exit and we look forward to what the new year will bring. The i-KYC team takes this opportunity to salute our…
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Ruminations on RegTech and Data Quality
Browsing for a topic for our last TrendLetter of 2021 I came across this article, https://www.cclcompliance.co.uk/knowledge-centre/post/regtech-what-has-it-ever-done-for-us We’re a few years further…
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2021 Q3 Trend Letter
This quarter the i-KYC Trend Letter sheds light on several interesting topics related to the prevention of financial crime. Our guest contributor this time is Pierre Simon, Principal Consultant at…
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Why good organisations sometimes do bad things
According to the UNODC, about 70% of all criminal money flows through the financial sector, making it by far the biggest institutional conduit for money laundering. So, it will come as no surprise…
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Understanding FEC risks when working from home
We like to take a pragmatic and hands-on approach in our work with FIs on the topic of FEC prevention. It’s important to have regulations, policies and control measures in place but we believe it all…
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The crucial role of a business-wide risk assessment
In its recently revised ML/TF Risk Factors Guidelines, EBA stated that financial institutions should use the findings from their business-wide risk assessment[1] to inform their AML/CFT policies,…
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2021 Q2 Trend Letter
The i-KYC Trend Letter this quarter features Edwin Hers as the guest contributor. Edwin, a seasoned Compliance professional with a passion for training and coaching shares his observations about the…
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Four recommendations to improve operational compliance – lessons from downunder
For this Trend Letter I’ve found 2 articles with a link to Australia. The first is about the never-ending ingenuity of money launderers and the phenomenon of cuckoo smurfing…
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