Transforming Ultimate Beneficial Ownership (UBO) analysis and continuous customer monitoring capabilities to meet AMLD5 requirements are just two of the main challenges that need to be tackled if banks are to avoid compliance issues in 2020 and beyond.
Both can seem like a costly and time-consuming challenge in a market that continues to evolve at an alarmingly fast pace.
Join UK Finance, Synectics Solutions and a panel of their invited guests on this webinar to understand more about the art of the possible (particularly in respect of UBO) and also what is being done to provide sensible solutions to help address these issues in a cost effective and speedy manner.
On the panel, there was Nick Van Benschoten, Principal Policy Advisor for Economic Crime at UK Finance, Heather Robinson, Head of FS Operations at Konexo, Dee Mc Manus, Head of Financial Crime & Fraud Advisory at Konexo and Chris Lewis, Solutions Consultant at Synectics Solutions
Some of the key areas covered in this webinar are:
Challenges organisations face in understanding beneficial ownership checks whilst remaining compliant with 5MLD
The mechanisms required to ensure that the information held on the public register, as per the 5MLD regulations, are "adequate, accurate and current".
Benefits of on-going automated monitoring and the use of external data