2018 Thomson Reuters Anti-Money Laundering Insights Report
Thomson Reuters partnered with ACAMS to conduct a survey of 253 anti-money laundering compliance leaders related to processes and activities used in response to “know your customer” requirements. The responses showed the impact the CDD Rule has had – and will continue to have – on the operations and practices of financial institutions.
Private Equity Firm Acting Like A Private Equity Firm
The Blackstone Group will take your money and then the dividends that could be used to pay you back.
Checklist: 10 Ways to Ensure Your Organization is UBO Compliant
As of May 2018, financial institutions now need to comply with new U.S. Treasury Department rules applying to any parties qualifying as “ultimate beneficial owners” (UBOs).
How Should Financial Institutions Assess the Accuracy of Third-Party AML Data?
As technology becomes more integral to financial industry regulation, data accuracy has become a leading concern for many institutions. In fact, a 2017 Thomson Reuters Legal survey of anti-money laundering (AML) professionals found that only 23% of participants express extreme confidence in their AML and customer due diligence (CDD) data vendors.
Ultimate beneficial owner reporting could muddle bank-client relationships
Starting in May 2018, complying with the Customer Due Diligence (CDD) rule will require a financial institution to change how it collects customer data.
Banks Need Next-Generation KYC to Confront Today’s Digital Identity Crisis
Cybercrime has evolved to exploit gaps in enterprise data security and disrupted identity theft in the process.