A Money Laundering Reporting Officer (MLRO) is a person responsible for implementing and overseeing a company’s anti-money laundering (AML) compliance program. The duties of the MLRO may involve serious legal consequences that result in civil and criminal action. Money Laundering […]
What is a BSA Officer? A Bank Secrecy Officer, also known as a BSA Officer, works within a bank, credit union, or similar financial institution, to ensure compliance with laws and regulations pertaining to the United States’ Bank Secrecy Act. […]
What is an AML Compliance Program? In order to combat financial crime, banks, credit unions, and a variety of other financial institutions across the world, are required to develop and put in place Anti-Money Laundering (AML) Compliance Programs. An anti-money […]
What is an AML Officer? In order to oversee internal anti-money laundering policies and remain compliant with important regulations, banks, credit unions, and similar financial institutions are required to appoint an Anti-Money Laundering Compliance Officer. As part of the fight […]
In order to carry out its duties, the Office of Foreign Assets Control (OFAC) produces the Specially Designated Nationals and Blocked Persons list – also known as the OFAC SDN list. The OFAC SDN list represents an essential tool in […]
When people talk about conducting KYC checks, they’re probably referring to the process that takes place at onboarding, i.e. identifying your customer and verifying that identity. But the problem for most businesses, is that a quick identity check isn’t going […]
Guide To KYC Checks (Know Your Customer Checks) When people talk about conducting KYC checks, they commonly mean the process that takes place at onboarding, i.e. identifying your customer and verifying that identity. For a best in class KYC programme, […]
Adverse media or negative news is defined as any kind of unfavorable information found across a wide variety of news sources – both ‘traditional’ news outlets and those from unstructured sources. The risks associated with conducting business with persons or […]
Today, is the deadline for the 4th Money Laundering Directive (4MLD) to be implemented across Europe. As European companies rush to integrate key changes needed for KYC processes such as domestic PEP screening and other due diligence practises we highlight […]
ComplyAdvantage is proud to announce that it has won the award for Most Innovative Compliance Service at the inaugural RemTech awards. The awards were held at the Global Forum on Remittances, Investment and Development, GFRID2017 they were organized by the […]
ComplyAdvantage is proud to announce today that it has partnered with Encompass Corporation to combine AI-driven data with next generation aggregation and automation technology. Encompass Corporation’s unique KYC automation software is used by a wide range of clients in the […]
Is your business ready for the changes coming with 4MLD? The UK government is in the process of transposing 4MLD into UK legislation via the Money Laundering and Transfer of Funds (Information on the Payee) Regulation 2017, which will come […]
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