Anti-money laundering

Andrew Clark

Partner

Anti-money laundering is an increasingly important business issue, and one of the big challenges for global organisations is how to deal with the patchwork of different jurisdictional requirements that exist – so, how do they operate on a global basis – and we thought that there wasn’t sufficient information available in one place, so we have pulled together a range of Know Your Customer details from over fifty jurisdictions to allow people to navigate their way through those challenges effectively and easily.

The wide range of different Know Your Customer requirements across the world sometimes makes it difficult for global organisations to know how to get global policies in place – or if they’re thinking about opening a new branch, how do they go about knowing what standards to apply. So this Quick Reference Guide is going to be useful for anybody in the financial services sector who operates in more than one territory. As well as the Know Your Customer requirements, it will also include information about whether you can do business with shell banks, how Politically Exposed Persons should get treated, and whether the local regulator will allow the risk-based approach to be used.

But one of the things we have found is that is that there is no substitute for local, on-the-ground knowledge when considering anti-money laundering issues, so we have included in the Quick Reference Guide contact details for our local PricewaterhouseCoopers anti-money laundering experts, should you need to reach out to them and discuss any particular issues that you’ve got.