Regulatory Compliance Journal
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 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
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 4 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 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 recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 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
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 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
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 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
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate chan...
- 12 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 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
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 min read
20 articles matching aml tag
How are shell companies used for money laundering?
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and companies for tax evasion, money laundering, and corruption. The scandal sent shockwaves across the world, revealing the detrimental consequences of such entities for the glob...
- 11 min read
How is money laundered through football?
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arrested in Zurich. The accusations focused on the use of bribery, fraud, and money laundering to rig the $150 million media and marketing rights auction for FIFA games in the Amer...
- 10 min read
How are ESG-related assets used for greenwashing?
With the rise of environmentally and socially conscious consumers, companies are under more pressure than ever to prove their commitment to sustainability and ethical practices. In recent years, environmental, social, and corporate governance (ESG) has gone from being a buzzword to a trillion-d...
- 10 min read
How is e-commerce used for money laundering?
With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-commerce has revolutionized the way we do business. The COVID-19 pandemic has only accelerated this trend, forcing many businesses to shift their operations online to stay afloat...
- 10 min read
What are the EU's Anti-Money Laundering Directives?
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and be able to fight new money laundering and terrorist financing techniques (e.g.: MiCA to regulate crypto-currencies). Today, modern technology services are becoming increasingly...
- 11 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...
The rising cost of regulatory compliance for financial institutions
Compliance, Financial firms, Financial operations, Governance, Due Diligence, EWRA, KYC, AML, GDPR, Europe,Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. The stakeholders fear that the cost of compliance will cut the growth of businesses and will lead to very restrictive business envir...