The Wolfsberg Group has updated it's Correspondent Banking Due Diligence Questionnaire. The update promotes effective #risk management, advocating #FI's to adopt a #RBA to defining their policies and procedures & undertaking appropriate #duediligence. hubs.li/Q01Cds_f0

European AML experts meet in Brussels to discuss Common #PEP Register. This register of PEPs comes under one of the deliverables under the current #AML/#CFT framework and Action Plan. There will also be a follow-up to the #EU pilot on #BeneficialOwnership. hubs.li/Q01Ch9nf0

Corporate #transparency was set back when the #CJEU invalidated the #AML provision guaranteeing public access to information on companies' #beneficialowners. This video explains why public access to this data is so critical, and what needs to happen next. hubs.li/Q01DvlWy0

Simplify the complex process of finding accurate #BeneficialOwnership data with UBO Service. We provide powerful workflows to integrate into your #KYC & #AML processes. Allowing you to #onboard your customers in a matter of clicks. hubs.li/Q01Dvmv90

A recent survey of Compliance Officers shows 64% would not solely rely on the CPI to assess #corruption #risks in their #compliance programs. This highlights a growing concern about the limitations of the CPI as a measure of corruption. hubs.li/Q01DvHdz0

#FATF Plenary outcomes have been published. It has made it a priority to improve the #transparency of #beneficialownership by requiring countries to ensure access to adequate, accurate, and up-to-date information on the true owners of companies. hubs.ly/Q01FBv3t0

EU Commission exploring whether technology solutions used by #banks, #fintech, and the public sector in the EU should be regulated. While #technological solutions are proving effective, there are concerns arising over the use of #AI in #AML #compliance. hubs.li/Q01HFfn00

The UK’s new Anti-Money Laundering (#AML) rules which require #RealEstate Agents to register with HM Revenue and Customs, as well as more rigorous #duediligence on buyers and sellers have increased #transparency and accountability in the sector. hubs.li/Q01JlPMv0

Real Estate, lettings agents, and solicitors implement #risk mitigation strategies to ensure they are #compliant with #AML regulations. The use of technology to detect suspicious activity is key for property professionals to combat #financialcrime. hubs.li/Q01JvXFh0

An Italian national wanted for his role in a €440 million embezzlement #fraud is to be extradited from Colombia. According to reports proceeds of crime were laundered through #cryptocurrencies, gold bars and current accounts in Malta, Cyprus and Madeira. hubs.li/Q01JFgCQ0

The #EconomicCrimeLevy (#ECL) will be collected from 2023-2024. The HMRC has published a policy paper entitled ‘Get ready for the Economic Crime Levy’ which provides information about the steps which are necessary to pay the levy. Read more: hubs.li/Q01LSn1z0

Integrating UBO Service’s #API empowers your systems to create legal reports to identify and verify #beneficialownership. Explore our solution by downloading our API documentation or requesting a testing environment. hubs.li/Q01M1zrt0

The #UK Treasury is consulting on whether regulation for providers of Environmental, Social and Governance (#ESG) ratings should be introduced, and the potential scope of a regulatory regime. The consultation opened on 30 March and will close on 30 June. hubs.li/Q01Mc4km0

The #FCA has published a series of measures aimed reducing the risk of #moneylaundering through post offices after investigations by UK police found hundreds of millions are laundered each year through the cash deposit channel at the #PostOffice. hubs.li/Q01MGjDV0

A new study finds the UK's #legal & #accounting sectors are still weak in their ability to detect and prevent #moneylaundering. It identifies key weaknesses in risk perception, training, #customerduediligence, (#CDD) and suspicious transaction reporting. hubs.ly/Q01NlBd00

Transform your #compliance process and accelerate customer #onboarding with our automated #API. Seamlessly integrate our API into your current system so you can verify #beneficialowners, shareholders, and directors instantly. Learn More: hubs.li/Q01Nvc_D0

Despite being under #sanctions by the UK since June 2022, Volodymyr Saldo, one of Putin's senior officials in Russian-occupied Ukraine has managed to establish a #UK company in his name. The company was registered 5 months after the sanctions were imposed hubs.li/Q01P_fqg0

According to a Transparency International UK study, only a small % of companies fully disclosed their anti-corruption policies in a timely manner. This underscores the need for stricter regulations & increased #accountability to ensure #transparency. hubs.li/Q01SnvDB0

The #FCA is to introduce tough new rules for the marketing of #cryptoassets designed to ensure buyers understand the risks. They will include a 24-hour cooling off period for first-time buyers and clear #risk warnings must be shown. Read More: hubs.li/Q01TfYNH0

Policymakers are struggling to accommodate #cryptocurrencies within tax systems not designed to handle them. The #IMF finds existing #AML policies don’t go far enough to stop tax evasion in the fast-growing world of #crypto. hubs.li/Q01YLMzZ0