Stronger AML compliance regulations in 2025 mean businesses must upgrade their PEP screening to avoid costly fines and reputational damage. Learn how advanced PEP screening tools can safeguard your business and ensure AML compliance in an increasingly digital financial landscape.
In 2025, Know Your Customer (KYC) solutions will become critical for banks and financial institutions seeking to strengthen their anti-money laundering (AML) frameworks. Driven by increasing regulatory demands, sophisticated financial crimes and expectations for seamless customer experiences, emerging trends like decentralised identity (DCI) and perpetual KYC (pKYC) are reshaping how financial institutions approach compliance and … Continued
In December 2024, the South African Treasury published the draft AML/CTF Amendment Bill, now open for comment. This bill aims to harmonise five key acts and strengthen commitments to deter non-compliance, which has halted the country’s regulatory status on the world stage since February 2023. Beyond that, this Amendment Bill assists South Africa in preparing … Continued
We’re proud to announce that RelyComply has been included in the first edition of the FinCrimeTech50 list, founded by specialist research company FinTech Global. The list celebrates trend-setters and pioneering technology companies reinventing the anti-money laundering (AML) and fraud prevention space. The timing is perfect: an estimated 50% of financial institutions are searching for new solutions … Continued
Welcome to RelyComply’s comprehensive guide to help you unlock the power of KYB (Know Your Business). In this guide, we’ll cover everything you need to know and why it’s an essential part of your compliance program. What is KYB? KYB, or Know Your Business, is a process used by businesses to verify the identity and business information … Continued
As the world becomes increasingly digital, the financial landscape has undergone a significant transformation. The rise of new technologies has brought many benefits to the financial sector, but it has also created new challenges, particularly when it comes to Anti-Money Laundering (AML) compliance. With the volume and complexity of financial transactions growing each day, businesses … Continued
In the business world, falling in with the wrong crowd is to be avoided at just about any cost. The recent money laundering scandals that have rocked Credit Suisse bear testament to this, where the financial institution has been found guilty of failing to uphold appropriate anti-money laundering (AML) measures related to a Bulgarian cocaine trafficking gang, … Continued
They say bad news travels fast. While this may be so, for financial institutions, conducting an accurate adverse media check can, at times, feel akin to separating the wheat from the chaff. Also known as negative news screening, adverse media screening protocol is all about sourcing bad news or negative information on new and existing customers. … Continued
Doing business with a known criminal is bad for business. At least, if you’re a reputable company looking to keep your reputation intact. But, what if it is your customer who is engaging in financial activity with a suspicious party? Take, for instance, the recent US sanctioning of a number of ISIS members operating economically within South … Continued