connections
our blog covering the latest news and industry trends from the financial and professional service sectors
Complying with Ultimate Beneficial Ownership Requirements
Ultimate Beneficial Ownership (UBO) compliance is becoming more business critical for more industry sectors. The 5th Anti Money Laundering Directive (AMLD5) of May 2018 gives EU member states until January 2020 to implement new requirements into national...
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the full picture, this week – 16 November 2018
This week we dive into biometric identity verification before a whistle stop tour of the world of financial crime regulation with stops in Denmark, Cyprus, and the United States, where shell companies and real estate are firmly in regulator sights, before we end in...
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4 reasons why audit trails are essential for demonstrating anti-money laundering compliance for law firms
As a result of the 4th Anti-Money Laundering Directive (4MLD), which came into force in June 2017, the legal sector has seen stark changes in their approach to the client intake process to achieve regulatory compliance. Following the directive’s enactment,...
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encompass highly commended in Regulation Asia regtech award
encompass has been highly commended in the RegTech category for AI & Machine Learning in the inaugural Regulation Asia Awards for Excellence 2018 at a ceremony in Singapore on 13 November 2018. The firm emerged as one of the top innovators in the category...
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encompass expands product offering with new global identify verification feature
encompass is pleased to announce that it now offers global biometric identify verification (IDV) and document authentication on its platform. encompass has integrated with global electronic identity verification providers to enable customers to fully automate IDV as...
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the full picture, this week – 9 November 2018
While we’ve all been gripped by US election fever this week, the world of regulatory compliance has seen its fair share of the action, too. We look at what’s coming for US banks under a Democrat-controlled House, the UK’s new strategy and agency focused on...
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KYC process steps: what you can automate and where you still need humans
Financial criminals are getting smarter. Regulations continue to expand as criminals find new ways to circumvent the anti-financial crime defenses of traditional banks. More sectors have come under the scope of anti-money laundering (AML) rules, including...
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the full picture, this week – 2 November 2018
There’s lots going on in Europe with the UK budget, and regulators considering how to address the growing crypto sector and piling pressure on other sectors to take their anti-financial crime responsibilities more seriously or risk the consequences. We...
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the full picture: automating UBO discovery for private equity firms
In part one of this blog, we looked at the increasing regulatory risks facing Private Equity firms driving a reevaluation of the due diligence process. The need for fast, accurate and comprehensive pre-acquisition due diligence on companies and beneficial...
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KYC onboarding: automate KYC across your entire customer base
As a large bank, you need to onboard different types of customers around the world while maintaining consistent, compliant processes. To achieve this, you need a technology solution that works across your entire customer base, whether you’re onboarding multinational...
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