Regulatory Compliance Journal
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
The effectiveness of financial sanctions and embargos
Financial sanctions and embargos have long been used by governments and international organizations as a means of applying economic pressure on rogue states in order to achieve political objectives. These measures aim to restrict or cut off the flow of financial resources to targeted countries ...
- 12 min read
What are worldwide AML regulations for cryptocurrency ?
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using them for a variety of purposes, including international money transfers and online purchases. In order to protect the integrity of the global financial system and minimize ille...
- 10 min read
What is the impact of the EU whistleblowing legislation?
Whistleblowing became a subject of concern when major consequences produced by Swiss Leaks and Lux Leaks made the case for a change in the European framework. In both cases, the whistleblowers worked for private companies prior to leaking information. If their situation was to repeat now, would...
- 9 min read
Why are PEPs under increased scrutiny?
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as government officials, politicians, or high-ranking members of the military. PEPs may also include their family members and close associates. The term "PEP" is often used i...
- 15 min read
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Google can choose to not apply the right to be forgotten globally
Google, GDPR, Privacy, European Court of Justice, EU, Personal Data, Freedom of information, Preliminary ruling, Europe, Data Protection Authority, Transparency, Digital,On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is not bound to apply the "right to be forgotten" or "de-referencing" globally. Google preliminary ruling caseIn May 2015, the Fren...
How to remotely identify clients and become PSD2 compliant?
PSD2, Europe, Digital, Financial Institutions, Financial operations, EU, Compliance, Financial firms,The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authentication (SCA) under the revised : Payment Services Directive (PSD2) . The Opinion provides non-exhaustive lists of the authentication e...
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...