In simple terms there are four main things which all firms must do and be able to demonstrate compliance to a Supervisor,
World-Check, in partnership with data quality specialist Datanomic, recently embarked on a project to screen the UK’s Companies House register of companies, company directors and secretaries against World-Check’s global database of high risk individuals and organisations.
Financial institutions in the UK should give special attention to business relations and transactions with persons, including companies and financial institutions, from jurisdictions that do not adequately apply the FATF Recommendations.