KYC Penalties in 2022: Lessons learned from previous failures

KYC Penalties in 2022. Lessons learned

Sanctioned Individuals, fraudsters, and terrorists regularly attempt to take advantage of entities with weak KYC measures to freely transact and launder potentially illegally derived funds. Regulated entities are required to take appropriate AML measures to prevent criminals from abusing their products of services, starting from basic KYC which will enable them to mitigate the risks […]