Making the Case for Ongoing KYC: Why the Time for Change Is Now
The Realtime Report
NOVEMBER 12, 2020
This was supplemented in January 2020 with the Fifth AML Directive, which aimed to increase transparency about who really owns companies and other financial entities. Since 2008, global fines for non-compliance with AML, Know Your Customer (KYC), and sanctions regulations have exceeded $36 billion, with $10B in 2019 alone.
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