Regulatory Compliance Journal
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and b...
- 11 min read
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 min read
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex scheme...
- 7 min read
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money l...
- 9 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There w...
- 8 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
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
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
20 articles matching AML tag
Financial greenwashing: the dark links between green bonds and corruption.
Faced with the urgent challenge of climate change, green bonds are emerging as an innovative response to finance sustainable projects and encourage the transition to an environmentally friendly economy. However, the persistent threat of corruption undermines these well-intentioned initiatives, ...
- 11 min read
What can be done to improve the efficiency of AML fines?
The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in achieving their goals. This inefficiency is manifest in the repeat offending of such banks, the heavy burden it places on them, and the lack of improvement in the AML system. A ...
- 11 min read
How effective are AML fines?
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist for financial institutions with vast pockets. With trillions of dollars being freely laundered every year and ambiguous structural changes required to effectively combat mone...
- 9 min read
How are charities used for money laundering?
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money laundering activities? While the noble intentions behind charitable giving inspires positive change, criminals have exploited the realm of benevolence, using it as a strategic ...
- 9 min read
How can AML experts fight trade-base money laundering?
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex schemes, where legitimate business transactions serve as a smokescreen for their illicit activities. How can anti-money laundering experts stop the flow of illegal funds into the wo...
- 7 min read
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How to write the perfect SAR?
Anti Money Laundering, AML, Audit Findings, Compliance, Due Diligence, Financial Sanctions, KYC, Money Laundering, Red Flags, Risk Based Approach, Reporting, Transaction Monitoring,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 ...
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European Data Protection Authorities Websites [Compiled list]
Data Protection Authority, GDPR, National Personal Data Authority, Europe, Data Protection Watchdog, DPA, EDPB, Privacy,The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded and where personal information is exchanged like an untraceable currency. European Data Protection Authorities (DPAs) have launc...
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...