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The FreePint Report: Know Your Customer has been published, which marks the end of our recent Topic Series on risk and compliance. Product reviews, Q&As, articles & analysis on subjects from the impact of regulatory change to key vendors in the regulatory space are included in the report.
"Know Your Customer" is a difficult area for businesses to outsource. Whilst you can outsource the steps, tasks and management of due diligence to a third party, you can't outsource the legal and regulatory responsibility.
Regulatory compliance is about eliminating or reducing risk in the...
This collection of FreePint articles on the topic of risk and compliance covers those included in the FreePint Topic Series: What You Need to Know Your Customer (KYC) . The articles tackle topics from the changing compliance culture to free resources for managing risk and keeping compliant. A...
Andrew Lucas wraps up the FreePint Topic Series: What You Need to Know Your Customer (KYC) by looking back at some the topics and themes in risk and compliance that have emerged from the series that he and Chris Porter have co-produced over the last three months.
FreePint presents an overview of some key vendors in the Know Your Customer (KYC) space. The table identifies key vendor products, briefly describes their key features, notes the geographic scope, singles out any special features of each service and notes what kinds of regulation it addresses, such as KYC, Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).
Chris Porter catches up with some of the latest developments in the Compliance Catalyst service from Bureau van Dijk (BvD) and highlights key changes since FreePint's full review in August 2013. Compliance Catalyst is a workflow application that helps organisations to take an informed, risk-based decision on whether to accept a potential new customer, supplier or other business partner. BvD has made numerous enhancements to the content and functionality of the service, driven by customer feedback.
Subscriptions to the risk & compliance databases offered by the "big three" are unaffordable for small organisations or self-employed researchers. Penny Crossland highlights some free resources from a variety of organisations and online sites.
Andrew Lucas highlights some of the latest articles in the FreePint Topic Series: What You Need to Know Your Customer (KYC). With the risk of prison for due diligence and KYC failures, we look at how information professionals can help mitigate the risks as well exploring the due diligence process. We also identify some of the best free online resources that you can use for undertaking KYC due diligence.
Penny Crossland highlights some high quality free resources in the risk, regulatory and compliance sphere, presenting some alternatives to the "Big Three".
As the FreePint Topic Series: What You Need to Know Your Customer (KYC) continues, Tim Buckley Owen notes that there are special insights that information professionals can bring to this and other regulatory compliance challenges. Whether it's the Safe Harbor agreement, adverts for financial services generated automatically by search engine results, financial promotions in social media or regulatory authorities' encouragement of financial technology developments like Bitcoins, info pros should be able to offer a uniquely well informed perspective. And that's before you even consider ways of keeping the boss out of jail for not doing their due diligence properly...
Mark Dunn describes the key elements of effective due diligence, including Simplified Due Diligence for "low risk" clients and Enhanced Due Diligence for "high risk" prospective clients or third-parties.
Organisations face growing legal and reputational risks associated with doing business. These risks have become even more significant because of mounting pressure from regulators and an increase in business carried out in higher risk jurisdictions. Increasingly complex business regulations such as the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act ensure that companies thoroughly examine third-party relationships to tackle the risk of money laundering, bribery and corruption and sanctions regimes. Mark Dunn looks at what the law says regarding Anti-Money Laundering and Anti-Bribery & Corruption, and how organisations can mitigate the risk of becoming involved in corruption through third parties (e.g. agents, suppliers) by implementing a simplified or Enhanced Due Diligence process.
Chris Porter brings us up to date on the FreePint Topic Series: What You Need to Know Your Customer (KYC). Recent articles include a summary of this year's major KYC-related survey findings; a look at the triggers for deciding to outsource your KYC research activities and a checklist of things to consider if you do; and a vendor interview giving a truly global perspective on KYC developments.
Outsourcing key business functions has various drivers. Darren Hickman examines what prompts businesses to outsource their Know Your Customer (KYC) processes and what benefits this can bring to compliance professionals and their organisations.
Darren Hickman examines whether companies should carry out Know Your Customer (KYC) procedures in-house or whether they should embrace outsourcing. He explains the options, the pitfalls and where to start. A useful market overview of the key providers and key technologies is included along with a checklist to identify the true costs of current processes.
Chris Porter interviews Joel Lange, managing director of the Dow Jones Risk & Compliance business. The conversation ranges over issues including main current areas of activity and change in risk and compliance data; regional variations; do-it-yourself versus subcontracting approaches; key current buying centres and emerging needs; and differing delivery options.
The sheer volume of regulatory change in the area of compliance can be overwhelming for many firms. With more intensive scrutiny from regulators worldwide and record fines imposed last year, it's more important than ever for companies to ensure they have a robust risk management framework in place. Sophie Alexander's article highlights the findings of three recent surveys carried out by Dow Jones, KPMG and Thomson Reuters, which give an insight into the challenges faced by companies in the area of compliance.
Chris Porter highlights key articles from the recently launched FreePint Topic Series: What You Need to Know Your Customer (KYC). Initial articles have included a look at changes in focus for the UK's Financial Conduct Authority, including the sensitive topic of management's personal liability; an overview of key current KYC themes from up-and-coming vendor, RDC, under the intriguing title "Making the Impossible Possible"; and an in-depth product review of regulatory tracking service Reg-Track. More is to come on issues such as budget and workload trends and attitudes to outsourcing.
2013 was a year of significant global regulatory change in the area of compliance. This resulted in more intensive oversight from regulators globally along with record fines and an increased focus on the actions of senior managers. This article highlights the findings of three recent surveys carried out by Dow Jones, KPMG and Thomson Reuters and gives an overview of how regulatory change has impacted on business decisions and some of the key trends in this area.
Risk and compliance is an area subject to increasing regulation and new types of compliance burdens. Register for the FreePint Topic Series: What You Need to Know Your Customer (KYC) to receive a free PDF report containing Tim Buckley Owen's commentary on how compliance tools can help make the complex research required for thorough compliance easier and more reliable, plus key chapters from three reviews of leading products.
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Director of Research Robin Neidorf describes the benefits of a Consulting Pilot on Value Chain, to tailor this process to your needs and environment:
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Consulting Pilot on Value Chain