In this article we will try to unravel the key developments and assess their potential impacts on banks and financial institutions. We believe this is more than a storm in a teacup and firms will need to follow developments closely over the coming months, as well as take a long hard look at their current policies and procedures – and previous debanking decisions. It is important to note that this is not just about account closures: firms need to also take a close look at how on-boarding decisions are made.
The current media interest in the banking arrangements of Nigel Farage has highlighted some of the challenges faced by financial institutions when deciding which new customers to take on and which customers to keep.
Whilst many firms may think that their Compliance arrangements are purring along just nicely thank-you-very-much, there are not many who can say – never mind actually evidence – that their Compliance function is doing everything just right. Compliance departments, in this very changeable world, are not immune to the need to grow, develop, and improve. Senior management will want to …
We are thrilled to announce that Peter Brooke has joined us as Practice Lead for our Anti-Financial Crime (AFC) and Non-Financial Risk (NFR) practices.
Hear our very own Claire Lincoln-White, Managing Partner of New Link Consulting, join a discussion on ‘Culture as a 1st line control’
New Link Consulting were pleased to be an Associate Sponsor of the 1LoD Summit.
A discussion on effective control frameworks to mitigate inappropriate activity.