Three companies have joined forces to launch a new AML and Know Your Client compliance platform that promises to drastically reduce the often lengthy process of onboarding clients.It also comes as HMRC cracks down on the property industry and the wider economy in a bid to curb money laundering.The software will be initially only available to estate agents and has been created jointly by client onboarding specialist eLegal, leading ethical digital identity platform Yoti, and global KYC and AML data provider Arachnys.As agents will be aware from several high-profile cases involving Purplebricks and Countrywide, HMRC has been focusing on fining agents for non-compliance with AML rules and regulations within their branches.Non-complianceInce, the company behind eLegal and the lead organisation in the alliance, says agents too often find the AML/KYC onboarding process fragmented, time-consuming and leaves them exposed to potential costly non-compliance fines.It also claims that many resort to Google searches to check out buyers, sellers and tenants and that its system minimises human error.The Ince service combines a range of functions including checking sanction lists, identity, Ultimate Beneficial Ownership, complex case referral and a full audit trail of all processes.Mark Tantam, Managing Partner, UK and Global Head of Consulting at Ince, says: “Our collaboration with eLegal, Yoti and Arachnys addresses the existing need in the market for a fully integrated solution that involves both advisory and action-based services.“This prevents critical gaps in the digital KYC process, saving time and money whilst protecting reputations.”eLegal Mark Tantam Ince HMRC AML YOTI March 17, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » New AML compliance service to cut time spent onboarding clients previous nextProducts & ServicesNew AML compliance service to cut time spent onboarding clientsInce says its new service is being launched in the property industry first and will minimise human error and the risk of fines.Nigel Lewis17th March 20210805 Views
Oxford Dictionaries has announced “post-truth” is its 2016 international word of the year. Reflecting the widespread impact of the US election and the Brexit debate, both the US and UK dictionaries chose the term.Defined as an adjective “relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief”, use of the term has increased by around 2,000% in 2016. “Post-truth” was chosen ahead of a shortlist including other political terms, such as “Brexiteer” and “alt-right”, and cultural alternatives, such as “coulroophobia” (the fear of clowns) and “hygge”.According to Oxford Dictionaries, the term ” post-truth” was first used in an essay by playwright Steve Tesich in a 1992 edition of Nation magazine. Commenting on the Iran-Contra affair and the Persian Gulf war, Tesich noted that “we, as a free people, have freely decided that we want to live in some post-truth world”.Casper Grathwohl, President of Oxford Dictionaries, commented, “Fuelled by the rise of social media as a news source and a growing distrust of facts offered up by the establishment, post-truth as a concept has been finding its linguistic footing for some time.“We first saw the frequency really spike this year in June with buzz over the Brexit vote and again in July when Donald Trump secured the Republican presidential nomination.“Given that usage of the term hasn’t shown any signs of slowing down, I wouldn’t be surprised if post-truth becomes one of the defining words of our time.”“Post-truth” has been added to OxfordDictionaries.com, while editors will analyse its ongoing usage to see whether it will be included in future editions of the Oxford English Dictionary.To see Oxford Dictionaries’ full reasoning and shortlist, click here.
Harvard scientists are leading a new international collaboration that is working to match up a global network of forest plots with a similar network created in China, to provide scholars with more comprehensive information about the planet’s changing forests.The effort kicked off earlier this month, when scientists from the Center for Tropical Forest Science (CTFS), a collaboration between the Smithsonian Tropical Research Institute and Harvard’s Arnold Arboretum, participated with Chinese scientists in a 17-day workshop, followed by a three-day symposium.Leading the effort is Stuart Davies, director of the Arboretum’s Asia Program. According to program manager Liz Delaney Lobo, the collaboration became a reality largely because of a five-year National Science Foundation grant that will help to finance workshops, travel, and other costs. In addition to the workshops, the grant provides for 10 graduate students or early-career researchers from the United States to visit China for scientific exchanges.The project ties the efforts of center researchers managing 41 similar plots in forests around the world to a similar effort underway in China. The plots in both networks are exhaustively documented using the same methodologies so that information can be compared and used to better understand both the basic functioning of the forests and how their diversity affects their resilience in the face of global climate change.Though led by Smithsonian and Harvard botanists, the center’s effort involves hundreds of scientists around the world. Harvard Professor Peter Ashton, the Charles Bullard Professor of Forestry Emeritus, helped to create the network during the early 1990s. The plots are between 25 and 50 hectares in size and hold about 4.5 million trees, from 8,500 species. All trees with a diameter larger than a centimeter on the plots are identified, documented, and tracked in recurring censuses every five years. Though the center network’s first plots were tropical, in recent years concerns about climate change have prompted researchers to expand the network to temperate sites, such as the Harvard Forest in Petersham, Mass.In recent years, scientists affiliated with six institutes that are part of the Chinese Academy of Sciences have begun their own network of forest plots. Called the Chinese Forest Biodiversity Network, it involves researchers using the same methodology as the center, allowing them to compare data between the two networks, furthering their understanding of forest dynamics.Delaney Lobo said the grant will help to support annual 20-day workshops involving both groups of scientists. The first workshop, just concluded, took place in China. Future sessions will take place at the Harvard Forest, at Michigan State University, and at two Chinese botanical institutes.“Without this grant, it would be very difficult for such a large group of scientists to collaborate this comprehensively or effectively on such an enormous scale,” Delaney Lobo said.
Minnesota looks to extend streak vs No. 22 Penn State February 6, 2020 Share This StoryFacebookTwitteremailPrintLinkedinRedditWhatsappMinnesota (12-10, 6-6) vs. No. 22 Penn State (17-5, 7-4)Bryce Jordan Center, University Park, Pennsylvania; Saturday, 4 p.m. ESTBOTTOM LINE: Minnesota looks for its sixth straight win in the head-to-head series over No. 22 Penn State. Minnesota has won by an average of 7 points in its last five wins over the Nittany Lions. Penn State’s last win in the series came on Jan. 14, 2017, a 52-50 win. Associated Press SENIOR STUDS: Minnesota’s Daniel Oturu, Alihan Demir and Payton Willis have collectively scored 50 percent of the team’s points this season, including 52 percent of all Golden Gophers scoring over the last five games.CREATING OFFENSE: Marcus Carr has been directly responsible for 48 percent of all Minnesota field goals over the last three games. Carr has 11 field goals and 18 assists in those games.SLIPPING AT 72: Minnesota is 0-5 when it allows at least 72 points and 12-5 when it holds opponents to less than 72.SIMILAR ASSIST RATIOS: Coincidentally, both of these teams have logged assists on exactly 55 percent of all field goals over their last three games.DID YOU KNOW: Penn State is ranked second among Big Ten teams with an average of 76.8 points per game. ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6