Financial

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.

https://www.synectics-solutions.com/our-thinking/details/webinar-successfully-tackling-the-new-5mld-compliance-challenges

According to the True Cost of Financial Crime Compliance Study 2020, which surveyed 900 compliance professionals globally, the UK spent a projected $49.5bn on financial crime compliance 2019, Germany spent $47.5bn, and the US $26.4bn.

https://www.europeansanctions.com/2020/04/uk-spends-49-5bn-on-financial-crime-compliance-in-2019/

Explore how firms in leading global markets are managing the challenges of a stringent regulatory environment. See the ways targeted technology solutions can reduce financial crime compliance obstacles.

https://risk.lexisnexis.com/insights-resources/research/true-cost-of-financial-crime-compliance-study-global-report

Deadlines that banks and other UK payment service providers (PSPs) have been set for implementing 'strong customer authentication' (SCA) standards for e-commerce could be pushed back in light of the coronavirus crisis, the Financial Conduct Authority (FCA) has hinted.

https://www.pinsentmasons.com/out-law/news/coronavirus-uk-open-banking

We take a closer look at five challenger banks using innovative technology and other methods to support customers impacted by Coronavirus

https://www.fintechmagazine.com/banking/five-challenger-banks-supporting-customers-during-covid-19

With the outrage of COVID-19 pandemic, the scammers are taking advantage of it, though, media outlets and governments have warned about these kinds of scam, but still, it’s an annoying prospect.

https://www.thecoinrepublic.com/2020/04/10/covid-19-pandemic-sweeped-away-cryptocurrency-scammers/

The Financial Conduct Authority has banned a former adviser jailed for defrauding victims out of £4.5m, which he used to fund his extravagant lifestyle.

Advice giant Quilter has warned steps taken by financial services firms to offer greater flexibility amid the coronavirus lockdown could leave consumers increasingly vulnerable to fraud.

https://www.ftadviser.com/your-industry/2020/04/08/warning-sounded-on-fraudsters-exploiting-virus-measures/

Banks appear to be reimbursing victims of bank transfer fraud at lower rates than expected under a new voluntary code, according to a regulator.

https://uk.finance.yahoo.com/news/banks-reimbursing-bank-transfer-scam-144939898.html?soc_src=social-sh&soc_trk=tw

Gambling Commission penalty relates to VIP schemes that reward heavy gambling