Regulatory Compliance Journal
How are shell companies used for money laundering?
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and companies for tax evasion, money laundering, and corruption. The scandal sent shockwaves across the world, revealing the detrimental consequences of such entities for the glob...
- 11 min read
How is money laundered through football?
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arrested in Zurich. The accusations focused on the use of bribery, fraud, and money laundering to rig the $150 million media and marketing rights auction for FIFA games in the Amer...
- 10 min read
How are ESG-related assets used for greenwashing?
With the rise of environmentally and socially conscious consumers, companies are under more pressure than ever to prove their commitment to sustainability and ethical practices. In recent years, environmental, social, and corporate governance (ESG) has gone from being a buzzword to a trillion-d...
- 10 min read
How is e-commerce used for money laundering?
With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-commerce has revolutionized the way we do business. The COVID-19 pandemic has only accelerated this trend, forcing many businesses to shift their operations online to stay afloat...
- 10 min read
What are the EU's Anti-Money Laundering Directives?
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and be able to fight new money laundering and terrorist financing techniques (e.g.: MiCA to regulate crypto-currencies). Today, modern technology services are becoming increasingly...
- 11 min read
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Environmental Crimes & Money Laundering
Environmental, Money Laundering, 6AMLD, EU, Whistleblowing, Green Crime, Red Flags, AML,The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate change. The yearning for a profound change and not a “back to normal” has been seen in the past months with the open letter signe...
EWRA - What is Business overall risk exposure assessment?
EWRA, Compliance, Financial firms, ERM, RBA, Reporting, Top-down, Anti Money Laundering, Audit, Risk, Risk Based Approach, Compliance expert, AML,The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. Today, stakeholders are more involved, and they demand greater transparency regarding the risks of a company and how the company rea...
KYC Business: tax havens, embargoes & sanctioned countries
Financial Sanctions, OECD, Financial firms, KYC, Compliance, Tax Havens, Red Flags, AML, Risk Based Approach, EU, Corruption, Know your Customer,Each year we are entitled to different lists about tax havens issued by governments or international organisations, but what is the difference between these lists? In October 2022, the European Union updated its list of non-cooperative tax jurisdi...