Money Laundering Risks & Effective AML Controls

  The FATF encourage the full use of a risk-based approach to customer due diligence which is essential in knowing who businesses are working with and on behalf of. Extensive and robust due diligence controls are one of the key measures in identifying money laundering risks and should form a large part of any AML […]

Experian Data Protection Breaches

The Information Commissioner’s Office (ICO) have conducted a two-year investigation into the handling and use of personal data held by the 3 main credit reference agencies, Experian Limited, Equifax and TransUnion. The ICO found data protection breaches within all 3 agencies citing “significant ‘invisible’ processing took place, likely affecting millions of adults in the UK”. […]

SMCR Conduct Rules | Conduct Rules Training

Under the FSMA, the FCA were given powers to write Conduct Rules that would apply to most of the employees within a firm. Applied to the banking sector in 2016, the FCA have now extended the Senior Managers Regime to apply to all solo-regulated firms from 9th December 2019. The enforceable Conduct Rules set out […]

Data Protection Impact Assessment GDPR

What Are DPIA’s Article 35 of the General Data Protection Regulation (GDPR) focuses on the Data Protection Impact Assessment (DPIA) and what obligations organisations have in considering and carrying them out. The ICO and The Article 29 Working Party (WP29) have also created guidelines and publications on impact assessments, with the latter citing the definition […]

SMCR for Solo-Regulated Firms

The FCA have now extended the Senior Managers and Certification Regime (SM&CR) to approx 47,000 firms from 9th December 2019, which includes senior managers and certification staff within those firms. The extension of the SMCR aims to make Senior Managers and certain employees within financial services organisations accountable for their own actions and competence. Those […]