Plenitude Consulting

💡 From Fines to Fixes: Compliance Insights for Crypto Firms 💡 Regulatory enforcement actions are a goldmine for compliance teams and senior management, offering insights into regulators’ expectations and examples of what not to do 📅 Wed, 12 Feb | 12:00 - 13:00 GMT Join us for a practical webinar exploring: 🔍 Lessons from recent enforcement actions ⚙️ Compliance improvements for governance, policies, and controls 🌍 Insights relevant across jurisdictions Our expert panel include Azariah Nukajam (MCSI) (Gemini), Thomas A. (TRM Labs), Manuel Fajardo (Plenitude), Su Carpenter (CryptoUK) 👉 Register now: https://lnkd.in/erXieEtu #Compliance #CryptoRegulation #DigitalAssets #FinancialCrime #Webinar

The UK Government released a policy paper outlining the transition plan for Companies House following the introduction of The Economic Crime and Corporate Transparency Act 2023 #ECCTA. The plan of changes affect the responsibilities of new and existing company directors, people with significant control of a company #PCS, and anyone who files information on a company’s behalf. Key future changes include: ➡️ Implementing a faster process for striking off companies where the company has been formed on a false basis; ➡️ Beginning to verify the identity of existing directors and PSCs and requiring verification as part of incorporation and new appointments going forward; and ➡️ Requiring all limited partnerships to submit more information to Companies House. ✅ Firms incorporated in the UK should ensure robust plans are in place to meet the new reporting requirements at the milestones outlined in the transition plan. Learn more: https://hubs.li/Q0359b060

Europol published a Practical Guide for Operational Cooperation between Investigative Authorities and Financial Institutions #Fis. The guide covers the benefits and added value of cooperative mechanisms, such as an Informed investigative approach, enhanced quality of the financial institutions’ reporting of suspicious activities and cross-border picture of financial flows. The guide outlines 3 different scenarios for collaboration between authorities and institutions: ➡️ As an umbrella term to describe diverse forms of working together; ➡️ On the initiative of investigative authorities such as identifying leads using FIs’ specialist skills; and ➡️ On the initiative of financial institutions such as engaging with authorities to improve strategic risk management processes. ✅ FIs can review the guide to gain insights into effective collaboration with investigative authorities, helping to enhance risk management, improve reporting quality, and strengthen financial crime detection. Learn more: https://hubs.ly/Q035xNM00

🚨 Less than a week to go! Regulatory enforcement actions are a goldmine for compliance teams and senior management, offering insights into regulators’ expectations and examples of what not to do Join us on 12 February @12GMT for a practical webinar exploring: ⚫ Lessons from recent enforcement actions ⚫ Compliance improvements for governance, policies, and controls ⚫ Insights relevant across jurisdictions Our expert panel includes Azariah Nukajam (MCSI) (Gemini), Thomas A. (TRM Labs), Manuel Fajardo (Plenitude), Su Carpenter (CryptoUK) Register here: https://hubs.ly/Q035xQ5V0 #Compliance #CryptoRegulation #DigitalAssets #FinancialCrime #Webinar

Regulators are closing the gaps in crypto oversight, and financial institutions must act now. What’s Changing? ⚫ MiCA enforcement ramps up – Crypto-asset service providers (CASPs) must meet AML & market integrity standards by 2026 ⚫ FATF’s Travel Rule takes hold – Stricter transaction transparency requirements for Virtual Asset Service Providers (VASPs) ⚫ Hong Kong & Singapore tighten rules – Stablecoin issuers and crypto firms face higher AML/CFT expectations ⚫ UK Digital Securities Sandbox – Testing DLT-powered finance under regulatory supervision Why It Matters: ⚡ Failure to comply means enforcement risk – licensing rejections, fines, or business restrictions ⚡ Stronger controls reduce fraud exposure and strengthen market confidence ⚡ Proactive firms gain a competitive edge in a rapidly maturing regulatory environment 💡 Key Takeaway: The regulatory window is closing. Firms need to integrate stronger financial crime controls or risk being locked out. Get the full picture in our Annual RegIntel report: https://hubs.ly/Q035mcKj0 #DigitalAssets #CryptoCompliance #RegIntel #FinancialCrime #AML

🔎 Plenitude Leadership Spotlight: Katerina Rowan, Lead Talent Acquisition Manager With over 20 years of experience in financial services, specialising in risk and compliance, Katerina is a seasoned expert in senior talent acquisition and executive recruitment. Throughout her career, she has held key roles at leading risk and compliance consultancies and international organisations, developing a deep understanding of the evolving talent landscape within financial services. As Plenitude’s Lead Talent Acquisition Manager, Katerina plays a pivotal role in overseeing senior hires and leading the Graduate and Early Careers Recruitment programme. She is passionate about identifying and attracting top-tier talent, ensuring that Plenitude continues to bring in the expertise needed to drive excellence in financial crime compliance. Beyond recruitment, Katerina is instrumental in refining Plenitude’s talent acquisition strategy, ensuring it remains competitive and aligned with the firm’s broader business objectives. Her strategic mindset and people-first approach enable her to connect talent with opportunity, strengthening Plenitude’s position as a market leader in financial crime compliance. #Leadership #TalentAcquisition #FinancialServices #RiskAndCompliance #Recruitment #ExecutiveSearch #EarlyCareers

The Financial Conduct Authority #FCA released a Dear CEO letter outlining a new strategy for the supervision of wholesale brokers. Key focus areas for financial crime supervision include ensuring that firms: ➡️ Do not underestimate the money laundering risks to which they are exposed; ➡️ Implement business-wide risk assessments #BWRA which are complete and comprehensive in covering inherent and residual risks; ➡️ Develop adequate methodologies for generating client risk-ratings appropriately, ensuring third parties are only relied on when appropriate; and ➡️ Are conscious of the connection between weak money laundering controls and weak market abuse controls, ensuring that reviews of controls are holistic. ✅ Wholesale brokers regulated by the FCA should review their governance frameworks covering the outlined focus areas and ensure they maintain robust controls in line with the regulator’s expectations. Learn more: https://hubs.ly/Q034R0TH0

The Financial Conduct Authority has published a new Dear CEO letter to Payments Portfolio Firms

The Financial Conduct Authority #FCA released the results of a multi-firm review into firms’ use of the National Fraud Database #NFD and money mule detection tools. The review analysed cases across 13 firms where money mule accounts were suspected and reviewed data from a money mule detection tool. Key takeaways from the review include: ➡️ Significant variation in the proportion of off boarded customers that were also reported to the NFD; ➡️ Only one firm conducted real-time checks on customers against the NFD; ➡️ A lack of response to information requests from the originating firm of transferred funds posed a significant challenge; ➡️ In almost one-third of cases, the FCA disagreed with firms’ decisions not to report off boarded money mules to the NFD; ➡️ Firms struggled to provide conclusive evidence that customers knowingly acted as money mules; and ➡️ Firms using a money mule detection tool were less responsive to alerts fired at generations after the first. ✅ Payment Service Providers #PSPs should ensure their internal policies and procedures for reporting money mule cases to the NFD align with the regulator’s expectations. ✅ PSPs should also calibrate fraud monitoring systems to effectively identify money mules while reducing false positives. Learn more: https://hubs.ly/Q034R0_00 💡 Plenitude’s Fraud Prevention Practice conducts Independent Fraud Assessments, ensuring firms have the right systems and processes to reduce losses and increase detection rates. Visit our website for more information: https://hubs.ly/Q034R0510

The Prudential Supervision and Resolution Authority #ACPR announced its programme of work for 2025. The programme is informed by a risk assessment of the French financial system conducted jointly with the Banque de France and published in the December 2024 financial stability report. Key focus areas include: ➡️ Work to simplify supervision and regulation through developing their risk-based approach; and ➡️ Increase supervision of AML-CFT systems and misconduct risks acting in collaboration with other public authorities such as the recently established EU Anti-Money Laundering Authority #AMLA. ✅ Firms with operations in France should ensure they maintain robust AML/CFT frameworks in line with the ACPR’s priorities. https://lnkd.in/eR7b8xzu