4th EU Anti-Money Laundering Directive will make Curbing Crime Easier
Jun26

4th EU Anti-Money Laundering Directive will make Curbing Crime Easier

Firms must adopt a risk based approach to customer due diligence new guidance shows 73% of financial crime professionals in UK financial services believe that the 4th EU Anti-Money Laundering (AML) Directive will make it easier for firms to prevent money laundering a survey of nearly 200 professionals has revealed. The Future Financial Crime Risk 2017 report, produced by LexisNexis Risk Solutions, global information solutions provider...

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Typical UK Bank will Waste £10m Annually on Inefficient KYC Checks
Jun26

Typical UK Bank will Waste £10m Annually on Inefficient KYC Checks

With the deadline today for full implementation of the Fourth European Anti-Money Laundering Directive (AMLD4), a new report from Consult Hyperion, commissioned by Mitek, reveals that the average UK bank is currently wasting £5 million each year due to manual and inefficient Know Your Customer (KYC) processes, and this annual waste is expected to rise to £10 million in three years. AMLD4 and the anticipated Fifth European AML...

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