Contains public sector information licensed under the Open UK Government Licence v3.0. Version OGW 1, Published January 2020 © Crown Copyright, 2020. In 2011, the UK Ministry of Justice published its first statutory guidance under the UK Bribery Act 2010 to help organisations understand the sorts of procedure they can put in place to prevent… Continue reading The „Six Principles Guidance” by the UK Ministry of Justice
Month: March 2022
AML/CFT Transaction Monitoring – introduction to the basic concept
AML/CFT transaction monitoring is equally if not more challenging than Risk-based Approach towards KYC procedures. Of course all depends on the business context, volume of clients, volume of transactions, technology available to support the business processes and controls embedded in them, and so on, and so far. In this blog entry I am going to… Continue reading AML/CFT Transaction Monitoring – introduction to the basic concept
Ongoing Risk-based Customer Due Diligence
Sometimes we may wonder, what Ongoing Risk-Based Customer Due Diligence means. The easiest answer is that we need to constantly monitor our relationship with a customer bearing in mind the diagnosed risks embedded in this relationship. When we translate this model into practice we could consider three variables: static customer information collected, verified and documented… Continue reading Ongoing Risk-based Customer Due Diligence
The threat of counterfeit medicines in a short summary
The recent “Intellectual Property Crime Threat Assessment 2022” by European Union Intellectual Property Office (EUIPO) and Europol proves that: “The distribution and use of counterfeit medicines and medical supplies can cause significant direct harm to the health of victims” “Some fake medicines contain less/no active ingredients compared to the genuine products” “In some other cases,… Continue reading The threat of counterfeit medicines in a short summary
Risk-based approach in client/vendor risk scoring at on-boarding
Client/vendor risk scoring is generally a dynamic process that gets initiated at customer on-boarding and continues over the lifecycle of customer relationship. However, I assumed that for the sake of simplification the example given in this article focus on the on-boarding risk scoring, which after initiation of the business relationship that often fluctuates while the… Continue reading Risk-based approach in client/vendor risk scoring at on-boarding