Regulatory Compliance Journal
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robo...
- 12 min read
While the world is on hold, financial crime has not taken a step back amidst the coronavirus emergency. Scammers, money...
- 13 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 min read
How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VA...
- 1 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...
- 3 min read
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 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
In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based...
- 6 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company. Working...
- 2 min read
In the past decade, the video game industry has managed to dwarf the film, music, and television sectors. It’s estim...
- 12 min read
20 articles matching AML tag
How is real estate used for money laundering?
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges had invested £1.5 billion in the UK property market, mostly through companies held in Britain’s overseas territories and crown dependencies. The findings exposed Great Br...
- 10 min read
GDPR: inspiring data protection worldwide
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s strongest collection of data protection rules. As our online presence increases through social media, digital banking, and other means, nations around the globe have come to re...
- 10 min read
Dawn of disruption: predicting AML in the next decade
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robotics, science, and finance. As banks are slowly adapting to high-tech innovations, the world of compliance and AML will face unprecedented changes and challenges in the near ...
- 12 min read
How to write the perfect SAR?
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information available to law enforcement agencies in the fight against financial crime. Yet, the FinCEN Files scandal of 2020 has shown that major banks have consistently failed to write and s...
- 11 min read
Why do most AML programs fail?
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches have hit an all-time high. In 2020, financial institutions were fined a grand total of $15.13 billion (€12.79 billion) worldwide, a 51.3% increase compared to 2019, with U...
- 10 min read
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AML EWRA - How to conduct Anti-Money Laundering overall risk assessment?
Risk, Due Diligence, AML, Risk Management, Risk Based Approach, Audit, Financial firms, KYC, Compliance, 5AMLD, Audit Findings, FSMA, EU, EWRA,The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and Belgian perspective for all credit institutions, stockbroking firms, licensed insurance companies and banking industries submitte...
How and why to embed AML Lookbacks within financial firms?
Money Laundering, AML, Audit, Audit Findings, Financial operations, Due Diligence, Financial firms,In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of their AML/CTF program, dissecting the nuts and bolts of their procedures and controls. But the current set-up isn’t what they are s...
6th AML Directive (AMLD6) : The European Harmonization
AML, Financial Sanctions, European Commission, Financial firms, 6AMLD, Compliance, Money Laundering, Europe, EU, Environmental, Anti Money Laundering, Green Crime,On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through the 6th EU Money Laundering Directive (2018/1673). Member States have until 3 December 2020 to transpose the Sixth AML Directive a...