Ben Preston-Marriott

6th Anti-Money Laundering Directive (6AMLD): Biggest Changes

The 6th Anti-Money Laundering directive (6AMLD) came into effect on the 3rd December 2020 and must be implemented by regulated businesses by 3rd June 2021. After the 5th AMLD introduced so many fundamental changes to the regulatory landscape, most notably introducing a focus on ultimate beneficial owners and strengthening the need for a Know Your Business offering, will the 6th be so …

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Why Is Fraud Prevention Important?

Fraud continues to pose a major threat to both the UK and International economies and individual businesses. As criminals become more imaginative in their attempts to steal customers’ money, now more than ever businesses must have the correct measure in place to prevent large scale fraudulent activity. In the 2020 Global Economic Crime Survey, a monumental …

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What Is Anti-Money Laundering?

Following on from our explanation of the importance of Know Your Customer, this piece will focus on Anti-Money Laundering (AML).   Money laundering is the process of hiding the true source of funds normally applied to money that has been obtained from an illegal source. Governments across the globe are committed to preventing the use of illicit funds and are implementing …

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