VinciWorks partners with Thirdfort for AML client onboarding solution
Omnitrack’s end-to-end AML client onboarding solution has launched a strategic partnership with Thirdfort, a leading know-your-customer and anti-money laundering platform. Thirdfort utilises real-time access to government registers around the world and best-in-class Ultimate Beneficial Owner (UBO) discovery. Over 950 businesses already rely on Thirdfort to carry out their AML checks. The partnership between VinciWorks and […]
On-demand webinar: UK Mandatory Disclosure Rules (MDR) – In conversation with HMRC
Broadcast Wednesday 15 February In November 2022 HMRC released the summary of responses from their consultation on the UK’s Mandatory Disclosure Rules (MDR). The consultation clarified that: The historic lookback period will go back to 25th June 2018 (and not 29th October 2014 as originally stated). Reporting will be via XML only. With UK MDR […]
Ongoing monitoring and AML – How important is it?
What are the implications for firms that fall short? You conducted your customer due diligence (CDD) when you onboarded your client. It’s all part of your effort to stay compliant with Know Your Customer (KYC) and Anti Money Laundering (AML) regulations. But the regulations are constantly changing, your client’s circumstances are evolving and the implications […]
Omnitrack version 2.78.0
Apply submissions grid layout for all end-users With this new feature, you can customise the grid layout of your submissions page to meet your specific business needs, and ensure that all of your end users see the same layout. This helps to create a more consistent user experience and makes it easier for your users […]
Barclays probed by UK financial watchdog over AML failings
The AML crackdown continues, this time targeting one of Britain’s biggest banks The UK’s Financial Conduct Authority (FCA) has launched an investigation into Barclays for suspected ongoing failings in compliance and anti-money laundering (AML) systems. The Financial Times reported that the FCA issued a notice last spring requiring an independent review of the bank’s financial […]
Upcoming webinar: Supplier onboarding — Sanctions, AML and regulatory trends
Wednesday 1 March, 12:00pm (UK) Supplier onboarding has become increasingly challenging and complex in recent years. A major factor that has contributed to this situation is the ongoing conflict in Ukraine, which has resulted in heightened security concerns and economic instability, making it more difficult for companies to manage their supply chains. In addition to […]
New rules and guidance from SRA – SLAPPs and quality assurance
The SRA have released further guidance and rules over the last few months. In this blog, Compliance Office’s Andrew Donovan shares the key points. Understanding SLAPPs (Strategic Lawsuits Against Public Participation) With increasing public concern that some solicitors are using SLAPPs on behalf of their clients, the SRA has issued a warning notice that tells […]
Conducting an independent AML audit: Can your firm avoid raising the red flags?
As regulations are tightening and the risk landscape is continually evolving, firms are facing increasing pressure to make sure that their Anti Money Laundering (AML) compliance programme is effective. Beyond the implications of fines or damage to reputation is the very real danger of disruptions to operations and in particular criminal liability. It’s critical for […]
How will failure to prevent fraud work?
The new offences of failure to prevent fraud are likely to shake up corporate compliance for all UK business. How will they work in practice? The UK government have announced they are pushing ahead with a game-changing new regulation to expand the ‘failure to prevent’ family of offences to failure to prevent fraud. Proposed amendments […]
Free guide to failure to prevent fraud. What will compliance mean for you?
Download our detailed guide: “Failure to Prevent: A Guide to Compliance” and find out more about the family of failure to prevent offences, including the new failure to prevent fraud offence currently going through the UK parliament. Failure to prevent fraud will apply to all businesses, and require them to have certain procedures in place, […]
