The FCA recently issued large misconduct fines to two company officers and banned the two company directors from working in financial services. The CEO and former managing director were caught when attempting to acquire a UK bank and Reading Football Club. The FCA issued the fines and bans to Paul Taylor, former CEO of Blue…
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Identity and authentication protocols could be a stumbling block for many Sources of Funds transactions. However, their implementation, especially of secure financial protocols such as OIDC, FAFI, and CIBA MODRNA, can be challenging for service providers. Interoperability across systems and between services is complicated by non-standard or otherwise non-interoperable protocols. Avoco Trust provides automated and orchestrated…
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An exploration of the verification and terms used in anti-money laundering (AML) and identity checks. The tech sector is renowned for its use of acronyms. Often, these acronyms cover more than one technology, take IDP, for example. An IDP can mean an ‘Identity Provider’ or ‘Intelligent Document Processing.’ Words and phrases, too, can mean multiple…
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