Research

An opportunity to recover, adapt and advance

By Duncan Edwards Senior Advisor Here at Idenfo, not only do we create and sell leading edge on-boarding and anti-money laundering systems, but we also provide process risk and assurance reviews. These are extremely important, after all, you don’t want the Regulator or Auditors to turn up to check your new system and also find […]

Research

Idenfo – Are you compliant in this global crisis?

By Duncan Edwards Senior Advisor Risk is double-edged; no one makes money without taking risks, but do not manage risk and you will certainly lose money.  But the thing is, risks are like icebergs – only the tip is clearly visible, so you need to understand all risks if you are to manage them effectively. […]

Research

Idenfo – Brexit: New challenges in the fight against financial crime

a look ahead to the impact of the UK’s impending departure from the EU by Zorez Haider Legal and Compliance Analyst With the Brexit deadline fast approaching, there is set to be major changes in the UK’s ability to fight financial crime. Companies will have to navigate a much more disparate and fast changing legal […]

Research

Idenfo – Goldilocks and the KYC system

The Goldilocks principle is so named by analogy to the children’s story “The Story of the Three Bears”, in which a little girl named Goldilocks tastes three different bowls of porridge and finds that she prefers porridge that is neither too hot nor too cold, but has just the right temperature. The idea of “just […]

Research

Idenfo – Keeping your eye on the ball

Controls during the Covid19 lockdown by Yawer Shameem Head of Compliance Advisory – Pakistan The past few weeks of lockdown in response to the Covid19 pandemic has everyone (individuals as well as corporations) stick to the basics, cutting down on what is not considered essential or urgent. Companies in the financial services sector at this […]

Research

Idenfo – Criminalisation of Money Laundering

A look at the legal history in the US and Pakistan   by Yawer Shameem Head of Compliance Advisory – Pakistan The US example The seizure of wealth by law enforcement as an additional tool of crime prevention gained popularity in early 20th century especially in the US during the prohibition period in the 1930s. […]

Research

Idenfo – Effective KYC in the Covid19 world

How will KYC (Know Your Customer) compliance now evolve? The fallout from Covid19 will not only hit us now but will be with us for many years. While the forthcoming economic downturn and increased governmental intervention in our lives are evidential, other impacts such as the emotional traumas of much reduced horizons and the societal […]

Research

Stock Brokers in Karachi unable to comply with AML regulation

Recently, stock brokers in Pakistan have expressed concerns to the Security and Exchange Commission of Pakistan (SECP) about their inability to dedicate sufficient resources to meet financial reporting requirements, develop a sound compliance system and meet FATF standards. A recent article in the Business Recorder explains that, “the AML/CFT requirements have evolved over time and […]

Research

Concerns raised over UK law firms approach to AML

A recent article in the The Law Society Gazette – the publication of record to solicitors in England and Wales – highlighted concerns raised by the Solicitors Regulation Authority over many firm’s approach to dealing with AML. The key concern raised was that most firms are simply doing little or nothing to meet their obligations. […]

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