Regulatory Compliance Journal
From an extra pair of hands to the person that advises on strategical decisions and the future of your company. Working...
- 2 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 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
In recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 4 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
Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There w...
- 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
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
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based...
- 6 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 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
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 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
20 articles matching aml tag
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
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
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RBA - Risk Based Approach: strengths and weaknesses
RBA, Risk Based Approach, Risk, Financial firms, AML, Conduct Risk, Risk Management, GAFI, Financial Institutions, Due Diligence, EWRA, Anti Money Laundering, Compliance, Terrorism Financing,In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary to activate preventive measures to decrease the risks. Among these, money laundering (ML), terrorist financing (TF), corruption, ...
How do criminals launder their money using the Dark Web?
Blockchain, Money Laundering, Freedom of information, Whistleblowing, Cryptocurrencies, Anti Money Laundering, AML, Prepaid Cards,Drug trade and illegal markets on the dark web have grown exponentially. Criminals are finding new and original ways to launder money generated from their illicit activities. The dark web is an encrypted part of the internet that hosts online conten...
AML Transaction Monitoring & Detection Scenarios
AML, Transaction Monitoring, Due Diligence, Risk Management, KYC, Financial firms, Anti Money Laundering, Detection Scenarios, RegTech, Risk Based Approach, Compliance expert, Red Flags,Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivity while carefully avoiding pointless investigations by reducing the amount of false-positive alerts. The revision of AML detect...