AML

How to Assess and Manage Risk in Investment Fund Management

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Investment fund risk

Risk management for providers of investment funds The provision of investment funds can involve multiple parties: the fund manager, appointed advisers, the depositary and sub-custodians, registrars and, in some cases, prime brokers. Similarly, the distribution of these funds can involve parties such as tied agents, advisory and discretionary wealth managers, platform service providers and independent… Read More

AML

How To Assess and Manage Risk with Wealth Management

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Wealth Management

Guidelines to manage risk within wealth management Wealth management is the provision of banking and other financial services to high-net- worth individuals and their families or businesses. It is also known as private banking. Clients of wealth management firms can expect dedicated relationship management staff to provide tailored services covering, for example, banking (e.g. current… Read More

AML

How to Assess and Manage Risk in Retail Banking

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Retail Banking

How to assess and manage AML and TF risk in Retail Banking For the purpose of this post, retail banking means the provision of banking services to natural persons and small and medium-sized enterprises. Examples of retail banking products and services include current accounts, mortgages, savings accounts, consumer and term loans, and credit lines. Due… Read More

AML

Risk Factors for Correspondent Banking

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Correspondent Banking Risk

What are the risk factors for correspondent banking and what can we do to mitigate them? The following is advice taken from a range of EU institutes, including the European Banking Authority. The advice is best practice no matter the region it could be applied to. Sectoral guidelines for correspondent banks This post provides guidelines… Read More

AML

How To Assess and Managing Risk – AML and TF

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How to Assess and Manage Risk

The guidance in this post comes from the EU. It can and is applied globally as best practice. Assessing and managing risk: general These guidelines come in two parts. This part is general and applies to all firms. Part 2 is sector-specific. Both parts should be read in conjunction with each other to achieve the… Read More

Compliance

Sanctions Screening Guidance

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Sanctions Screening Guidance – Introduction Sanctions screening is a control employed within Financial Institutions (FIs) to detect, prevent and manage sanctions risk. Screening should be undertaken as part of an effective Financial Crime Compliance (FCC) programme, to assist with the identification of sanctioned individuals and organisations, as well as the illegal activity to which FIs… Read More

AML

What to do when you uncover Money Laundering

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Gold is an easy asset to use to launder value. It’s high value, easy to transport and can be moulded into any shape you desire. For the super rich criminal, it is a go to element of value to store criminal assets. None of that is shocking. What is shocking, is when a big four… Read More