Banks struggle with tough rules on beneficial ownership

New systems and processes necessary to prevent illicit money flows


As national regulators adopt global standards on beneficial ownership, banks are tightening their systems and processes to prevent illicit transactions by customers. And the costs of compliance are rising.

Financial transparency has moved up government agendas since FATF, the international standard setter, set out recommendations on beneficial ownership in 2012. These are aimed at identifying true owners of shell companies or complex corporate structures, which money launderers, supporters of

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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