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AML Guide for Fintechs

When it comes to financial crime, the key elements of success are knowing your obligations and truly understanding your risks. In any developing ecosystem there are always challenges that a growing business needs to keep aware of, and tackle with the same energy that goes into delivering on customer experience.

This guide is intended to provide Fintechs in EMEA with a checklist of key issues that they will need to consider when developing their financial crime framework and some practical ways in which they can go about addressing them.

Key topics covered include:

  • An outline of core financial crime responsibilities in countries that follow the guidelines of the international standard-setter Financial Action Task Force (FATF);
  • Suggestions for how to take a ‘Risk Based Approach’ (RBA) to these responsibilities;
  • A set of principles and actions which can help shape a flexible framework.
  • “Financial crime compliance is at root about helping law enforcement and society, not maintaining a clean copybook with the regulators; the latter in fact presupposes the former. If you proactively seek to contribute to the fight and do seek to do so effectively, you will comply as a natural outcome.”

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Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.

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