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By Sébastien CUVELIER, Managing Director and Lionel NICOLAS, Advisory Partner, PwC Luxembourg
The financial marketplace has become increasingly dynamic and fast-paced in recent years. Some of the key factors include new entrants, greater competition, ever-more intricate structuring schemes, emphasis on alternative investments and growing use of data and analytics in financial decision-making.
For financial institutions, a consequence of this overall greater complexity is to ensure illegal activities such as money laundering, fraud and terrorist financing are identified at any point in time in the customer’s lifecycle. Regulators all over the EU have applied a fair amount of oversight to ensure Know Your Customer (KYC) and Anti Money...
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