As we see an increasing range of money laundering activities, cross-border collaboration among legal and financial institutions is imperative to capture organized criminals in order to link seemingly individual crimes that are part of a much wider network
Trade-driven technology makes the world increasingly interconnected meaning sanctioned countries do not operate in a vacuum. Financial Institutions must tailor their compliance programs around that fact.
Marijuana taboos are loosening worldwide. The breakdown of state cannabis restrictions in the US yields differing legal gray areas requiring financial institutions to use KYC risk-screening. There are many lessons to be learned as this emerging industry develops its best practices.
Financial institutions and other corporate entities need to be on high alert for criminal activity; timely and comprehensive customer screening is an accurate and efficient way to stay protected, especially during an economic crisis.