Get the knowledge to fight financial crime

KYC information is crucial for an organisation's AML efforts, as it helps it meet regulatory requirements, reduce risk, and make better business decisions. In this article, we explore the importance of implementing KYC processes.

As we enter a new year, we outline how three key AML areas will impact regulated businesses in 2024.

The financial sector is looking for experts in anti-money laundering (AML), which is crucial for preventing and detecting illegal activities. Reports show that the demand for AML talent has risen by 58% since 2016.

130 billion SEK is laundered in the Swedish financial system every year. Lawmakers want to combat financial crime, imposing strict know-your-customer requirements in an increasing number of sectors.

The fight against money laundering and associated regulations has intensified, with the EU prioritising centralized control. In Sweden, money laundering cases have surged, leading to hefty fines for non-compliance with AMLD regulations.

Optimising your Know Your Customer processes is a crucial strategic measure beyond compliance with AML/CFT regulations. In this blog, we will explore three essential tips to enhance the efficiency of your KYC process and ensure compliance.