W ells Fargo’s recent disclosure of regulatory investigations related to its anti-money laundering (AML) and sanctions programs and agreement to “work with U.S. bank regulators to shore up its financial crimes risk management” serves as a timely reminder of the ongoing importance of robust compliance measures in the financial sector. Read More
The Financial Industry Regulatory Authority announced that it has fined UBS Financial Securities $850,000 for the brokerage’s failure to monitor the transfer of customer funds to third parties and respond appropriately to any red flags indicating potential private securities transactions. The penalty stems from UBS’s failure to detect that one Read More
GUEST BLOG Effective due diligence is critical to establishing relationships with customers, suppliers, and other third-parties that drive strong revenue generation. How can businesses, including banks and finance companies, balance effective anti-money laundering (AML) efforts, know your customer (KYC) workflows, customer due diligence (CDD), and third-party risk rating workflows with Read More
