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View the article online at http://citywire.co.uk/wealth-manager/article/a756329

Wealth firms given financial crime warning

by Dylan Lobo on Jun 11, 2014 at 13:31

He added: 'Moving forward, compliance departments are going to have to be even more forensic in their KYC processes. To properly defend their firms' reputations and bottom lines in a newly transparent market, one-off, or infrequent, KYC will rarely be enough.

'A new form of KYC that is embedded and ongoing will have to become the modus operandi, or firms will suffer the consequences.'

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