by Jyotsna Bucktowar | Aug 25, 2025
This development follows a series of compliance-related challenges for HSBC’s Swiss unit, including a significant money laundering probe and a recent $300 million scandal resurfacing in July 2025. This move aligns with the bank’s broader strategy to...
by AdrianaAMLP | Jul 15, 2025
It emphasises a risk-based, proportionate approach to enhanced due diligence, requiring senior management approval but allowing flexibility in signatories. Firms must promptly update PEP status and ensure clear documentation, training, and compliance oversight,...
by AdrianaAMLP | Jul 30, 2024
The findings concluded that banks, payment firms, lenders and other financial firms need to do more to ensure MPs, public servants and their families are treated fairly. At the same time, the FCA has also launched a consultation on amendments to its PEP guidance, but...
by AdrianaAMLP | Jun 24, 2024
The FCA explains that it had been on track to publish the findings from this review (which was launched in September 2023) in line with the end of June deadline set in the Financial Services and Markets Act 2023. However, it does not consider it appropriate to publish...
by AdrianaAMLP | May 6, 2024
Notes efforts undertaken by the country to address technical compliance shortcomings identified in its 2020 Mutual Evaluation Report. Notably, the amendments introduced by Georgia in 2023 to its AML legislation have fully addressed the deficiencies previously...
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