Monthly Archives: March 2019

2019 risks for compliance officers

KYB While much of 4MLD was about to know your customer (KYC), a big part of 5MLD is about to know your business (KYB) In the run-up to the 5MLD, we will see increased attention on high-risk countries. Clients or transactions engaged in high-risk countries will be subject to enhanced due diligence when performing onboarding checks. Compliance teams will need to ensure KYC is not a simple “tick box” exercise during the onboarding phase, and ongoing monitoring processes will need…

Top 10 ways to protect your organisation from bribery and corruption

Public sector corruption siphons $1.5 trillion to $2 trillion annually from the global economy in bribes and costs far more in stunted economic growth, lost tax revenues and sustained poverty, according to the International Monetary Fund (IMF). The fact is, bribery and corruption can affect any organisation, of any size, in any industry and location. There are 10 things that an organisation can do, however, to be better protected against the threat of bribery and corruption: Be proactive. Adopt a…