Regulatory Compliance Journal
An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...
- 3 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 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
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
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Drug trade and illegal markets on the dark web have grown exponentially. Criminals are finding new and original ways to ...
- 8 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
In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 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
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 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
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate chan...
- 11 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
20 articles matching aml tag
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
What are the impacts of Financial Data Leaks?
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international journalists in publishing the wrongdoings have ...
- 10 min read
AML: What is adverse media or negative news?
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. Newspaper articles, online blogs, and social media are accessible and filterable with one click and may reveal important news on a financial institution’s customer. However, ...
- 11 min read
Financing terrorism: The billion-dollar blood antiquities art dealing
The destruction of the ancient city of Palmyra and the beheading of its Antiquities Chief, Khaled al-Asaad, in 2015 by the hands of the Islamic State of Iraq & Syria (ISIS) are still fresh in the minds of many. Beginning in 2014, the terrorist group has wrecked havoc across the Middle East and...
- 10 min read
Environmental Crimes & Money Laundering
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 signed by 200 scientists and celebrities published...
- 11 min read
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EU proposals: cross-border distribution of investment funds
UCITS, AIFs, Capital Markets Union, ESMA, European Commission, EU, MIFID, Investment Funds, MiFID2,A Proposal for a Directive which will amend, the Directive 2009/65/EC (UCITS IV Directive) and the Directive 2011/61/EU (AIFMD), was adopted on 12 March 2018 by the European Commission. The aim of the new Directive will be to facilitate the cross-bo...
Open Banking - PSD2: the future of financial services
FinTech, Financial Institutions, PSD2, NPPS, EU, Facebook, Europe,The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the sector to a digital era. Open Banking transition explainedAccording to the definition provided by "Open Banking Europe", the t...
How to implement efficient corporate governance standards ?
Conduct Risk, Governance, Compliance expert, Compliance, Financial firms, Financial Institutions,Corporate governance standards are a framework within which operational and behavioural standards for the board, the executive management and the wider staff are set. Hierarchy in harmony. It comes largely with an accountability movement, better mana...