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UK

Confirmation of Payee Service Provides Added Assurance

Know Your Customer (KYC) FCA Requirements in the UK

11 UK

Sanctions and PEP Screening: A Critical Step in the KYC Process
Politically exposed person (PEP) and sanctions screening can protect an organization and its reputation when onboarding new customers and conducting reviews.

Is there such a thing as regulation overload?
The last 10 years have seen a 500 percent increase in regulatory changes, and banks are spending $270 billion/year on compliance & regulatory obligations.

New regulatory era for online gambling laws
Online gambling operators in the EU or the UK have to comply with the 5th Anti-Money Laundering Directive (5AMLD) and other requirements.

The countdown to 6AMLD starts now, but operators need to look beyond it
While 6AMLD, gaming operators will need to review their AML monitoring processes and identify areas for improvement within customer onboarding & operations.

Beneficial ownership rules: improving transparency and availability of UBO information
To fight money laundering, regulators and governments should ensure that effective beneficial ownership rules and procedures are in place.

Know Your Player: UK Issues New ID Requirements to Gaming Operators
New identity verification requirements for UK licensed online gaming operators were mandated; these are expected to go into effect on May 7.

Could a “Hard Brexit” Dim London’s Financial Influence?
Currently, there are three Brexit options: A deal (Soft Brexit), no deal (Hard Brexit) or, No Brexit, where Brexit is abandoned altogether.

Person of Significant Control: UK Companies House Reporting Requirements
The UK has new Person of Significant Control (PSC) requirements; impacted companies must report any change to Companies House within 14 days.

Top 10 Cross-Border Payment Services in Europe, Middle East, and Africa
In this fourth installment of our cross-border payment services series, we examine the top 10 providers for Europe, Middle East and Africa (EMEA).