V e r i f y 365 - Risk & Compliance Technology

City Heights Legal Solutions Limited has been fined by the Solicitors Regulation Authority for AML and compliance failures. The fine totalled £2,387, and the company will also cover investigation costs of £600. Read more verify365.app/city-heights-l…

The due diligence process is essential for lawyers, solicitors, conveyancers and estate agents as they must fully clarify the accuracy of an individual or business's information verify365.app/source-of-fund…

Our latest feature analyses why it is so important for #estateagents to complete due diligence and the role #Verify365 can play in helping estate agents streamline their onboarding processes and complete the necessary due diligence checks. verify365.app/enhancing-aml-…

The Federal Reserve Board has issued an enforcement action against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, for failing to adhere to essential anti-money-laundering (AML), risk management, and consumer compliance protocols verify365.app/evolve-bank-un…

The #SolicitorsRegulationAuthority has announced its intentions to raise the minimum figure for law firm fines. The SRA are proposing to rise the base of law firm fines to £5,000 verify365.app/solicitors-reg…

Politically exposed persons, or PEPs, are individuals appointed to significant roles by government bodies. Managing Politically Exposed Persons can pose complicated challenges for firms operating within the financial and legal sector. Read more 🔽 🔽 verify365.app/managing-polit…

A #solicitor from West London has been fined £10,000 by the Solicitors Regulation Authority (SRA) after amending and lodging a property transfer without the knowledge or consent of her client. Read more 🔽 🔽 verify365.app/solicitor-fine…

Digital payment technology is becoming more prominent within law firm processes. The ease of use and opportunity to receive payments at a much faster rate has accelerated its growth verify365.app/the-rise-of-el…

India's Financial Intelligence Unit (FIU-IND) has imposed a hefty fine of $2.25 million on Binance, the world's largest cryptocurrency exchange, for failing to comply with anti-money laundering (AML) regulations Read more ⬇️⬇️⬇️ verify365.app/binance-fined-…

Switzerland’s financial regulatory authority, Finma, has imposed strict sanctions on HSBC’s Swiss private bank subsidiary following serious violations of anti-money laundering (AML) regulations. verify365.app/money-launderi…

#ID #fraud is set to become the dominant form of bank-reported fraud in the UK. Current projections suggest it could constitute 50% of all such cases, highlighting a rapidly escalating issue that demands immediate and comprehensive action. Read more ⬇️ verify365.app/the-rising-thr…

The Toronto-Dominion Bank is currently facing a significant fine for #AML and #compliance failures. Canada's second-largest bank could face a fine reaching a staggering $4 billion. Read more below ⬇️⬇️ verify365.app/toronto-domini…

The Epoch Times' Chief Financial Officer, Bill Guan, has been arrested on accusations of his involvement in an extensive money-laundering operation involving illicit funds of at least $67 million. Read more below verify365.app/epoch-times-cf…

According to a recent survey, almost half of financial firms have voiced concerns that current #AML regulations lack clarity and fail to address the practical issues of modern AML operations. verify365.app/financial-firm…

#Client #Onboarding #Software is innovating the legal sector as law firms aim to streamline, enhance due diligence processes and ensure compliance within the regulatory guidelines. verify365.app/client-onboard…

The average fine for estate agents failing to adhere to #AML regulations has increased. Figures during 2022/23 highlight the average fine stand at £5,350, a 50% increase on the previous year. Read more verify365.app/estate-agents-…

Unleashing the potential of #Actionstep and #Verify365 integration … revolutionise your operational efficiency, streamline tasks, improve client relationships, and boost profitability. 👇 verify365.app/harnessing-the…

As #lawfirms face ever-growing compliance demands, client onboarding becomes a critical area of focus. Verify 365 is designed to streamline this process, putting a spotlight on #AML checks as an essential part of modern onboarding practices. verify365.app/the-benefits-o…

In a move set to redefine #openbanking, the European Commission (EC) unveiled a comprehensive proposal that aims to replace the existing PSD2 with the newly revised Payment Services Directive (PSD3). #payments #AML #lawtech verify365.app/eu-announces-p…

[AML NEWS] Rudi Kesic, CEO of Verify 365, risk and #compliance AML technology provider, responds to consultation paper by the Attorney-General of #Australia, on the Australian Government’s commitment to enhancing the nation’s #AML and #CTF regime. verify365.app/verify-365s-ce…