Read the in-depth article to learn more about how to conduct appropriate customer due diligence.
The European Parliament approved the Fourth Anti-Money Laundering Directive [4MLD] in June 2015, which entered into force in June 2017. It strengthens the existing rules and makes the fight against money laundering and terrorism financing more effective. It also improves transparency to prevent tax avoidance.
The Financial Action Task Force [FATF] an inter-governmental body created to investigate financial crime is expected to scrutinise the UK in 2018. The Financial Conduct Authority [FCA] estimates that up to £57 billion is laundered through the UK every year.
The integrity of the legal and financial services marketplace depends heavily on the perception that they function within a framework of high legal, professional and ethical standards. Law firms and insurers build their businesses around their reputation for integrity.
Anti-money laundering tools do not have to be expensive or complex to use and integrate into business processes. CRIF’s premium identity verification service will provide users with far more than confirmation of identity.
FAQs on Anti-Money Laundering
Look at the most commonly asked questions in relation to Anti-Money Laundering to understand why and how you can strengthen your compliance processes.