Due Diligence Client Risk Assessments

Due Diligence Client Risk Assessments

What is Due Diligence? Why do you need to perform due diligence client risk assessments?  Customer due diligence is the assessment, investigation and review of a supplier, business or individual with whom a company intends to form a business relationship. However, in addition to standard due diligence, part of the customer due diligence process is […]

Legitimate Interests Assessment Process

Legitimate Interests Assessment (LIA) Process

Lawful Basis for Processing Why do you need to understand the legitimate interests assessment process? When processing personal information, it is a legal requirement to comply with the UK GDPR and data protection laws. Specifically, adhering to the Article 6 lawfulness of processing obligations. Businesses processing personal data should identify which legal basis they are […]

Anti Money Laundering Compliance Checklist

Anti Money Laundering Compliance Checklist

How do you know if you are complying with your Money Laundering Regulations (MLR) obligations? Why Use an AML Compliance Checklist? The rules in the MLR are extensive and when added to those of AML Supervisory Authorities, such as the HMRC and FCA, the scope is even broader. You want to be sure you are […]

Anti Money Laundering Templates for Small Firms

GDPR CCTV Policy Template

Anti Money Laundering templates for small firms should provide ready-to-use content that is easily customised. Many of the smaller firms who have obligations under the Money Laundering Regulations are supervised by the HMRC. However, some have other supervisory authorities such as the FCA or professional bodies. Whoever your AML supervisor is, you will need to […]

The Consumer Duty in a Nutshell

Templates for Anti Money Laundering (AML)

Introduction The Consumer Duty (“the Duty”) is now in force for all open and existing retail products and services. There are hundreds of pages of rules, guidance and publications to sift through. The Consumer Duty in a Nutshell article summarises this information to help you understand the Duty and your obligations. This page will aid […]

Third Party Reliance Templates

Third Party Reliance Templates

What is Third Party Reliance? Using third party reliance templates enables you to meet your AML and due diligence obligations whilst complying with the mandatory regulations. Third party reliance does exactly what it says, it enables a relevant person to rely on a third party for carrying out certain due diligence measures. Part 4. Section […]

How to Carry Out a Skills Gap Analysis

How to Carry Out a Skills Gap Analysis

Skills Gap Analysis Overview If you are wondering how to carry out a skills gap analysis, this article will provide you with the generic stages and criteria. Completing a skills gap analysis is a key business function that is applicable to all business types and industries. The starting point is to identify what skills your […]

Anti-Fraud Policies and Procedures

Anti-fraud policies and procedures make up an essential part of any business’s compliance program. Firm’s have a duty of care to assess the risk of fraud posed to their business and to put processes into place to mitigate these. This article provide information and suggestions for writing an anti fraud policy and the associated fraud […]

Vulnerable Customers and The Consumer Duty

Who Are Vulnerable Customers? The FCA define a Vulnerable Customer as: – “Someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.” In their Approach to Consumers guidance paper, the FCA notes four factors that can act as drivers to actual […]

GDPR and the Data Protection and Digital Information (No. 2) Bill

GDPR and Digital Information Bill Summary After tabling and then withdrawing the initial data protection reform bill, the revised Data Protection and Digital Information (No. 2) Bill (“the Bill) is now making its way through the parlimentary channels. The second version of the Bill provides some additional clarifications on its predecessor. It aims to make […]