The UK’s Payment Services Regulations 2017 (PSRs 2017) define the legal and operational perimeter for firms providing payment services in the UK. They establish which payment service providers can operate as a Payment Institution (PI) or Electronic Money Institution (EMI), what authorisation they require, what conduct standards apply, and how customer funds must be safeguarded. … Continued
A politically exposed person’s check sits at one of the more demanding intersections in any AML programme. Most compliance teams can screen a standard customer in seconds, but PEPs are a different matter entirely. Political figures operate across hundreds of jurisdictions, hold different titles in different legal systems, and move in and out of roles … Continued
Explore how the FCA Regulatory Sandbox is accelerating AML/KYC innovation through Perpetual KYC, Explainable AI, and synthetic data testing for fintechs.
Anti-money laundering (AML) and Know Your Customer (KYC) are often used interchangeably, but they are not the same thing. AML obligations are set by national law and supervisory authorities, with international standards shaped by bodies such as the Financial Action Task Force (FATF). Together, these requirements place a wide range of screening and monitoring obligations … Continued
Enhanced due diligence (EDD) is a more intensive form of Customer Due Diligence (CDD), applied under the UK’s risk-based approach to anti-money laundering when a customer, transaction, or business relationship presents a higher risk. For compliance teams asking “what is enhanced due diligence” in practical terms: it is the point at which standard identity verification … Continued
An evaluation of the UK’s post-Brexit assessments for high-risk third countries, and its expectations for quality, accurate enhanced due diligence.
Purple Group’s rapid growth exposed the limits of fragmented AML and onboarding systems. By partnering with RelyComply, they’re moving to a unified, scalable compliance framework - enabling faster onboarding and supporting secure global expansion.
Assessing UK firms’ integral need for transaction integrity, where firms require transparent AML monitoring for asset safeguarding and reconciliation.
There’s no dismissing the fact that all UK payments will soon need to be instant. This is not a rising need limited to the British Isles either, considering the EU’s Instant Payment scheme and the fact that more than 100 jurisdictions have access to fast payments systems. The low costs, speed, and safety of account-to-account … Continued
RelyComply and The Payments Association (TPA) are joining forces to help payments companies tackle financial crime more effectively.