encompass blog | industry news
FCA report on money laundering shows there is a long way to go despite progress
The Financial Conduct Authority’s (FCA) Anti-Money Laundering (AML) Annual Report 2018/19 underlines that firms still have some way to go in their efforts to stamp out the problem. The FCA’s AML report, which focuses on developments within the last 12 months,...
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why are AML fines increasing? deep dive into encompass analysis
2019 is set to be a record year of Anti-Money Laundering (AML) fines, according to new research. encompass, a fast-growing provider of intelligently automated Know Your Customer (KYC) solutions, carried out an analysis of AML-related penalties handed down...
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how APRA report can bring opportunities for forward-thinking financial institutions in Australia
In May, the Australian Prudential Regulation Authority (APRA) released its report analysing self-assessments by more than 30 of the country’s largest banks, insurers and superannuation licensees. This was in response to actions points from the regulator’s...
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law firms under the spotlight as a result of SRA investigation
A review by the Solicitors Regulation Authority (SRA) has uncovered that a number of law firms are not meeting their Anti-Money Laundering (AML) obligations. Following these findings, the regulator is set to step up efforts to stamp out this growing...
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analysis from encompass shows 2019 set to be year of record AML fines
encompass, a fast-growing provider of intelligently automated Know Your Customer (KYC) solutions, recently carried out an analysis of Anti-Money Laundering (AML) related penalties that have been handed down between 2002 and April 2019, with a particular...
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key developments within the fifth money laundering directive
The Fifth Money Laundering Directive (5MLD) has an implementation date of January 2020, with the aim of addressing a number of weaknesses that have come to light since the introduction of the Fourth Money Laundering Directive (4MLD) on 26th June 2017. Here, encompass...
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3 key learns from Fraud and Financial Crime Europe 2019
47% of businesses have been affected by financial crime within the last 12 months. This is one of the key statistics that caught attention at the 2019 edition of the Center for Financial Professionals (CEFPRO) Fraud and Financial Crime Europe conference. There was...
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