The Financial Intelligence Centre has issued Directive 10 of 2026, which introduces more detailed registration requirements for accountable institutions operating from multiple geographic locations.
The directive was issued under sections 43A and 43B of the Financial Intelligence Centre Act and requires affected accountable institutions to provide the FIC with information ...
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An anti-money laundering risk-scoring model should do more than produce a low, medium or high-risk rating, reports ComplyAdvantage. It should help an accountable institution understand why a customer presents a particular level of risk, determine what controls should follow, and provide a clear record of how the decision was reached ...
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Masthead reports that many accountable institutions mistakenly equate having an RMCP, approved policies and completed training records with full FICA compliance. In practice, regulators are increasingly focused on whether those controls are applied consistently, kept current and supported by evidence. Generic RMCPs, inconsistent customer due diligence, weak beneficial ownership verification ...
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By Lee Rossini
Client feedback is a valuable resource when it comes to managing a financial services business. Understanding how clients perceive their experience is essential for building trust and improving service quality. Listening to clients, and taking their feedback seriously, enables businesses to adapt their business model to remain competitive and relevant.
Read more...Subscribers are reminded that they can complete monthly CPD quizzes and claim CPD hours before the 31 May deadline. View the CPD FAQs for more on accessing the CPD quizzes.
