AML Vulnerabilities in Fintechs
AML SPOTLIGHT REPORT
Fintechs are transforming the financial services sector to the enormous benefit of customers, disrupting the incumbents of financial services and capturing significant market share.
But just as criminals have long attempted to launder money through conventional financial services businesses, so they are now trying to do the same through fintechs.
Regulators are alive to the problem and are increasingly clamping down on fintechs that fail to meet their anti-money laundering (AML) and combating the financing of terrorism (CFT) responsibilities.
To ensure your business doesn’t fall foul of any new or existing national and international legislation and regulatory requirements, we have taken an in-depth look into the issue to help you to identify weaknesses in your existing compliance framework.
In this brand-new industry report, we examine:
- Where fintechs may be vulnerable to AML risk
- The current regulatory environment in the UK, EU, and US
- The requirements for customer due diligence (CDD) and enhanced due diligence (EDD)
- Screening for sanctions, ultimate beneficial owners (UBOs), and politically exposed persons (PEPs)
- How to ensure compliance with AML regulations
Download this valuable compliance analysis today.