Expert insights on KYC (Know Your Customer) and AML (Anti-Money Laundering) practices.

Joining us today is Matt Walcott in the first episode of The Compliance Podshow. He is a highly regarded Senior Compliance Consultant based in the UK.

Matt Walcott is the go-to expert for companies seeking comprehensive compliance strategies to navigate complex business landscapes. Matt shares his knowledge on why firms need to revamp their anti-money laundering systems and controls, focusing more on KYC processes to prevent a growing backlog of transaction monitoring alerts.

In this episode, you’ll learn about:

• The major issues with the current AML controls
• Reasons firms opting for minimal KYC requirements
• Potential consequences of lax KYC controls
• Measures banks & financial institutions are taking to address the challenges