LATEST
The SJH Group Celebrates Quality Journalism as Official Sponsor of London Press Club Awards 2026Are Vintage Pokémon Cards an Asset Class? A New Index Says +197% Since 2021, Ahead of Gold, Bitcoin and the S&P 500‘An Attack on Free Speech’: Amnesty Exposes University Crackdown on Palestine SolidarityBritain Saw the Evidence of Gaza Atrocities and Kept the Arms FlowingPress Publishers Slam EU Digital Omnibus Council Deal That Threatens Funding of Journalism and Citizens’ Access to NewsDiabeloop Announces the Completion of Its Balance Sheet Restructuring and Looks Ahead to the Next Phase of Its DevelopmentNew Analysis Examines Russia's Satellite Network and Emerging Drone ThreatsIntroducing the Rayove Watch: Smartwatch Featuring Online AI Translation in 73 Languages and Camera-Based OCR TranslationPathogenDx Announces Five-Year Cooperative Research and Development Agreement with USDA Agricultural Research Service to Advance Rapid Detection of High-Pathogenicity SalmonellaA $16.5M Pikachu Illustrator Leads 525 Six-Figure Pokémon Card SalesThe SJH Group Celebrates Quality Journalism as Official Sponsor of London Press Club Awards 2026Are Vintage Pokémon Cards an Asset Class? A New Index Says +197% Since 2021, Ahead of Gold, Bitcoin and the S&P 500‘An Attack on Free Speech’: Amnesty Exposes University Crackdown on Palestine SolidarityBritain Saw the Evidence of Gaza Atrocities and Kept the Arms FlowingPress Publishers Slam EU Digital Omnibus Council Deal That Threatens Funding of Journalism and Citizens’ Access to NewsDiabeloop Announces the Completion of Its Balance Sheet Restructuring and Looks Ahead to the Next Phase of Its DevelopmentNew Analysis Examines Russia's Satellite Network and Emerging Drone ThreatsIntroducing the Rayove Watch: Smartwatch Featuring Online AI Translation in 73 Languages and Camera-Based OCR TranslationPathogenDx Announces Five-Year Cooperative Research and Development Agreement with USDA Agricultural Research Service to Advance Rapid Detection of High-Pathogenicity SalmonellaA $16.5M Pikachu Illustrator Leads 525 Six-Figure Pokémon Card Sales
Americas

Worldbox: Due Diligence Demand to Skyrocket in Compliance Hike

Richard Powell  1 min read
Illustration: greatreporter
Demand for enhanced due diligence services is expected to rise after US firms were warned to ramp up Anti-Money Laundering (AML) protocols and customer due diligence if they are to escape tougher non-compliance penalties…

The Securities and Exchange Commission (SEC) and US Treasury told financial firms at a July 'Compliance Outreach Program' conference to prepare for more stringent examinations on anti-money laundering efforts by 2016.

Failures to undertake proper due diligence during AML and other checks - particularly in regions where company information is difficult to obtain - represent a serious mis-perception of risk, they warned.

The US Treasury’s Financial Crimes Enforcement Network (FinCEN) told delegates the minimum customer AML due diligence obligation for banks, broker-dealers, and other financial firms would encompass the identification and verification of customers and the beneficial owners of legal entity customers.

Read the full story, here on Worldbox.net...

Related articles

Top