The Register of Overseas Entities (ROE) is an important tool for ensuring compliance with anti-money laundering and counter-terrorism financing (AML/CTF) regulations. It is a publicly available database that provides information on entities that are located outside of the United Kingdom. The ROE was established in April 2019 and is maintained by the Financial Conduct Authority (FCA).
The purpose of the ROE is to provide financial institutions with information on entities located outside the UK that may be involved in money laundering or other financial crimes. The ROE includes information on entities such as banks, payment service providers, money service businesses, and other financial institutions. This information can help financial institutions to identify and assess the risk associated with doing business with these entities.
The ROE is updated regularly and contains information on over 6,000 entities from over 100 countries. The information provided in the ROE includes the name and address of the entity, the type of entity, and the country in which it is located. Additionally, the ROE also provides contact details for each entity, such as a telephone number or email address.
The FCA has also developed a number of tools to help financial institutions use the ROE more effectively. These tools include a search function, which allows users to search for specific entities by name or country, and a risk assessment tool, which helps users to assess the risk associated with doing business with a particular entity.
The ROE is an important tool for helping financial institutions comply with AML/CTF regulations. By providing information on entities located outside the UK, it helps financial institutions to identify and assess the risk associated with doing business with them. The FCA has also developed a number of tools to help financial institutions use the ROE more effectively.