News

Read all our latest articles on industry buzz, events, technology, and our team.

PassFort's Q2 newsletter 2022

Russia’s invasion of Ukraine has dominated the second quarter of 2022. And we have been developing resources for teams managing the fast-changing area of sanctions compliance that has evolved since the invasion began in February.

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Automating identity verification for customer onboarding

Automatically verifying someone's ID is the first building block in a digital customer onboarding process. It's a key part of KYC and AML due diligence. So, what do you need in the process and what should you look for in an automation tool?

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KYC compliance for kids

The market for financial products that teach kids about budgeting, saving and spending has opened up massively. So, how does KYC for these types of digital financial services work? Let's take a look...

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New regulation impacting merchant payments

When a Central Bank digital currency is launched in Europe, merchants will want to accept it. The transition will be about planning for new regulation as much as adapting to the new technology.

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KYC vs. Perpetual KYC

Management of KYC processes continues to evolve to deal with changing threats and to leverage new regtech. Now, firms are moving to a perpetual KYC model, but what is perpetual KYC and how is it different from a traditional approach to risk monitoring?

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What is a PEP?

PEP stands for politically exposed person. But what makes someone politically exposed and why is it significant when they are identified as a PEP?

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UK’s first crypto asset regulatory framework

As the UK government announces plans for the country to become a global crypto asset technology hub, the Bank of England has started making plans for the UK’s first crypto asset regulatory framework. So, what do these plans involve?

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Automated KYC – is it enough to stop fraud and fines?

Reports of fraud increase year on year. Fines for non-compliance with AML regulations are growing. What does this teach the industry about how it is dealing with financial crime? Are new approaches that rely on automation enough?

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UBOs, corporate structures, and geopolitical risk

Understanding corporate structures and identifying the ultimate beneficial owners of businesses you work with guards against geopolitical risk, including sanctions placed on companies and individuals in your network.

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UK passes Economic Crime Act

The Economic Crime Act, which became UK law in March 2022, is designed to create more transparency in the ultimate ownership of overseas entities to prevent financial crimes such as money laundering.

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KYB - what is it and why is it important?

KYB checks are so important when onboarding corporate clients. They help you understand the people behind the operation. Here's a brief rundown on the essentials of KYB, UBOs and corporate onboarding.

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Sanctions checks: the essentials

As sanctions against Russia ramp up in response to the military conflict in Ukraine, firms must ensure they comply with the rules quickly and efficiently.

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