due diligence

Ministers of the 27 EU member states have backed a proposal that makes it possible for countries to exempt banks and investment funds from planned EU rules that will require companies to report their impact on human rights and the environment. 

A majority of nearly 3,000 risk managers admit that the pandemic has led to more careless due diligence checks and a more sloppy handling of the Know Your Customer (KYC) principle. In addition, 71 per cent of respondents report that cybercrime is harder to contain because of remote working.