FCA’s survey on Financial Crime Controls in Corporate Finance firms exposes major AML gaps, with two-thirds failing key standards and urging stronger risk assessment, due diligence, and oversight

The FCA’s review reveals that a notable proportion of corporate finance firms fail to maintain comprehensive business-wide risk assessments or adequately monitor their appointed representatives. Strengthening these controls is essential to ensuring compliance with the...

Wolfsberg reaffirms its commitment to the RBA, urging banks to embed ‘Proportionality, Prioritisation, and Effectiveness’ in FC controls, with plans to update its 2006 RBA Framework and 2015 FAQs

It urges institutions to tailor controls to their specific risk profiles and business contexts (proportionality), focus resources on higher‑risk customers and activities rather than applying blanket measures (prioritisation), and ensure programmes deliver measurable,...