Regulatory Compliance Journal
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
Over the past years, the golden visa has seen a surge in participation in its programmes. But along with its rising popu...
- 14 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 min read
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and ...
- 11 min read
In recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 5 min read
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and b...
- 11 min read
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arres...
- 10 min read
With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-com...
- 10 min read
In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 min read
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
The destruction of the ancient city of Palmyra and the beheading of its Antiquities Chief, Khaled al-Asaad, in 2015 by t...
- 10 min read
11 articles matching 5amld tag
How will the EU AI Act impact financial services?
In 2017, the European Council emphasized the need to address artificial intelligence (AI) trends while maintaining high standards for data protection and ethics. By 2023, concerns about ChatGPT's misuse led to Italy's temporary ban. The European Union (EU) is now working on the AI Act to ...
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- 8 min read
How to conduct KYC on companies
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Illicit money and unlawful actions can be hidden within layers of transactions across subsidiaries and partnerships, obscure beneficial owners, and dubious front businesses. How...
- 10 min read
How has Russia circumvented sanctions?
In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater where complex games of power, influence and rivalry are played out. At the heart of these interactions are sanctions, instruments often used to express disagreement, inflict ...
- 10 min read
How to set up an efficient whistleblowing channel?
In today's corporate environment, transparency and ethical conduct are crucial, making whistleblowing channels vital for reporting unethical practices without fear of retaliation. An effective whistleblowing system promotes integrity and shields organizations from legal and reputational harm...
- 10 min read
How to build an effective KYC program
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated methods to exploit vulnerabilities within financial systems and testing the boundaries of traditional KYC practices. How can compliance experts create robust defences and iden...
- 9 min read
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Facebook & Diem: the sensational entry in the financial world
Cryptocurrencies, Blockchain, Facebook, Financial firms, FinTech, RegTech, Money Laundering, Digital, Anti Money Laundering, Transparency, Financial operations,By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the American firm Facebook aspires to rely on its 2.4 billion users to reach the forgotten and the destitute people of the convention...
How do criminals launder their money using video games?
Compliance, Know your Customer, Money Laundering, Anti Money Laundering, AML, Cryptocurrencies, Blockchain, Darkweb, Prepaid Cards,In the past decade, the video game industry has managed to dwarf the film, music, and television sectors. It’s estimated that there are currently 3 billion active gamers across the globe who have roughly spent $198,6 billion on games in 2022 alon...
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...