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The regulator’s push to increase its fining power in 2025 is understandably causing concern among firms, who are keen to ensure their AML compliance processes are airtight. However, firms need to look beyond the immediate threat and start addressing deeper, more systemic issues within their operations.
Companies must soon be more diligent about verification from the start. All directors and Persons with Significant Control (PSCs) must be properly vetted. There’s simply more to look out for, and everything must be in order from the very beginning.
We sat down with Rhodri Davies from Why Philanthropy Matters to learn why contextualising philanthropic wealth and demonstrating a clear rationale behind gift acceptance decisions will be key in 2025.
86% of executives surveyed last year pointed to loss of income and a reduced customer base as expected fallout from reputational risks. But forming the best approach to identify those risks comprehensively and cost-effectively can be difficult.
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