Joseph, Mann & Creed ’s Post

What is the impact of NYDFS' changing compliance requirements around data retention and disposal? In a recent article for Corporate Compliance Insights, Joe Shepley, CIPP/US discusses the implications of recent amendments to 23 NYCRR Part 500.13 and highlights three compliance challenges for regulated financial services companies. Read the article here: https://okt.to/7oPIiG

The UK's new Economic Crime and Corporate Transparency (ECCT) Act has officially come into effect. While the stakes are high, we've outlined the governance systems and practices that will deliver you peace of mind. If you’re struggling to understand the compliance implications of the ECCT Act, you’ll want to check out our latest blog post. We breakdown the legislation’s key provisions and highlight what company secretaries can do to prepare. Read on to discover how you can tackle the new requirements with ease. #ECCT #CorporateTransparency #Compliance

Post-cyberattack costs for businesses include legal fees, potential ransoms, and revenue loss during business interruptions. Though it's not often considered, #forensicIT expenses also form a significant part of the financial fallout. Learn how #cyberinsurance covers Forensic IT costs: https://hubs.li/Q01_Q-180 Then, share your thoughts or experience about the impact of post-cyberattack forensic IT expenses on businesses in the comments.

Simplified Due Diligence, when used appropriately, can streamline client onboarding and reduce administrative burdens. However... its simplicity can sometimes overshadow the associated risks. Our blog outlines these risks and how to reduce them without compromising compliance 👇 https://lnkd.in/e2tfh93a #duediligence #amlcompliance #lawfirms #complianceofficers

In today's business landscape, staying compliant with financial regulations isn't just crucial—it's a non-negotiable cornerstone for any company aiming to thrive. 📈 But navigating the labyrinth of financial crime compliance can feel like traversing a minefield without a map. 💣 That's where our corporate and compliance consultancy firm steps in, serving as your trusted guide through the regulatory jungle. At Let's Comply, we understand the stakes. 🎯 From anti-money laundering (AML) protocols to combating the financing of terrorism (CFT) and everything in between, we've got you covered. 💼 Our team of seasoned experts stays ahead of the curve, keeping abreast of ever-evolving regulations and industry best practices so that you can focus on what you do best—running your business. 🏢 Why does financial crime compliance matter, you ask? 🤔 Well, apart from the obvious legal ramifications of non-compliance (hello, hefty fines and damaged reputation!), there's also the ethical imperative. 💼 Protecting your company—and by extension, your stakeholders—from being unwittingly embroiled in illicit financial activities isn't just about ticking boxes; it's about upholding integrity and safeguarding trust. 🔒 So, how can we help you stay on the straight and narrow? 🛤️ Our tailored solutions are designed to fit your unique needs, whether you're a multinational corporation or a burgeoning startup. 🌱 From conducting comprehensive risk assessments to implementing robust compliance frameworks and providing ongoing support and training, we're here to empower you every step of the way. 💪 At Let's Comply, we don't just offer services; we forge partnerships built on transparency, reliability, and a shared commitment to compliance excellence. 🤝 Together, let's navigate the complexities of financial crime compliance and pave the way for a brighter, more compliant future. ✨

The clamor surrounding compliance regulations is getting louder, and for good reason. With scandals and data breaches consistently making headlines, organizations worldwide are urgently working to safeguard their reputations and financial integrity. Enter negative news screening – no longer just a box to check on the compliance form, but a crucial lifeline in today's turbulent business environment. Dive into the details and grasp its far-reaching implications for businesses. Explore more by clicking the link! 👉 https://lnkd.in/dJfhby4k #negativenewsscreening #compliance #KYC #AML #CFT #regulatorycompliance #AIforcompliance #AInegativenewsscreening #globalcompliance #crossbordercompliance #datascurity #regulatorylandscape #AMLsolutions #fraudprevention #thirdpartyriskmanagement

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) marks the latest attempt to tackle the risk of fraud and money laundering in the UK. The regulatory changes made by the ECCTA will impact not only the day to day of running your business, but also the wider structure and regulation of your company. There are a number of practical steps which all companies must take in order to comply with the ECCTA, and we outline key points in our article prepared by Emily Glen-Hencher and Cameron Broome of our Macdonald Henderson Corporate team. Please get in touch if we can support you/your business.

🚨 Non-compliance with regulations can have serious legal ramifications for businesses. Just look at the Equifax data breach, where the company's failure to patch a known vulnerability led to a $700 million settlement. Ignoring compliance can result in hefty fines, lawsuits, and reputational damage. Stay vigilant! ✅ To address and prevent non-compliance: 1️⃣ Stay informed: Keep abreast of regulatory changes relevant to your industry. 2️⃣ Implement robust policies: Develop clear protocols for compliance and regularly update them. 3️⃣ Conduct regular audits: Identify gaps and rectify them promptly to avoid potential breaches. 4️⃣ Provide training: Educate employees on compliance protocols and foster a culture of accountability.

Discover why 65% of UK finance professionals suspect internal fraud but stay silent, and how protecting whistleblowers is crucial for combatting corporate fraud. Learn more in my latest blog post. #accounting #news #finance https://lnkd.in/eR6ps22n

Navigating the complexities of #financialcrime compliance has become increasingly complex. Learn why many firms are #outsourcing portions of their compliance programs to effectively and efficiently outmaneuver these complexities. https://lnkd.in/efKqGA3K