London Governance & Compliance Academy

Fundamentals of the Risk Based Approach to Anti Money Laundering

Introduction   Historically, the global approach to Anti-Money Laundering (AML) was predominantly rule-based, where strict compliance and standardised measures dominated strategies. However, as the financial world grew more intricate and threats more nuanced, a tailored strategy became paramount. Thus, the Risk-Based Approach (RBA) was conceived.   Central to the Financial Action Task Force (FATF) recommendations, […]

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Reviewing the Key Elements of Customer Due Diligence

What is Customer Due Diligence?   Customer Due Diligence (CDD) represents a foundational step for financial institutions in understanding and verifying the identities of their customers or potential customers. Rooted in regulatory imperatives such as anti-money laundering (AML) measures and Know Your Customer (KYC) directives, CDD serves as a mechanism to unearth and assess any […]

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