Regulatory Compliance Journal
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated ...
- 9 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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 Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 6 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 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 February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 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 the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 min read
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Il...
- 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
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate chan...
- 12 min read
20 articles matching aml tag
SEPA Instant Payments : understanding the requirements and deadlines of regulation 2024/886
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January 09, 2025, instant payments are set to become an integrated part of day-to-day banking. The Instant payment regulation (IPR) was voted on 13/03/24 and was effective by 08/04...
- 6 min read
How are gatekeepers used for money laundering?
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Yet, these very players can sometimes become unwitting—or even complicit—partners in money laundering schemes. The expertise that makes these professionals indispensable to ...
- 9 min read
How to improve compliance culture?
A strong compliance culture helps to establish the foundation for a lasting positive impact for a company, its employees, and its clients by achieving ethical practices, clear values, and the respect of local and international legislation. Despite its benefits and legal necessity, most companie...
- 7 min read
How to set up a conflict of interest program
Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond? In the field of business ethics, a strong conflict of interest program is the cornerstone that keeps an organization's reputation intact. With it, transparency isn't ju...
- 10 min read
How will the EU AI Act impact financial services?
In 2017, the European Council emphasized the need to address artificial intelligence (AI) trends while maintaining high standards for data protection and ethics. By 2023, concerns about ChatGPT's misuse led to Italy's temporary ban. The European Union (EU) is now working on the AI Act to ...
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- 8 min read
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How are shell companies used for money laundering?
AML, 5AMLD, Anti Money Laundering, Corruption, Compliance, EU, Ethics, KYC, Money Laundering, Red Flags, Tax Havens,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 detriment...
How is e-commerce used for money laundering?
5AMLD, Anti Money Laundering, Compliance, Money Laundering, European Commission, Digital, KYC, Red Flags, Transaction Monitoring,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...
How has Russia circumvented sanctions?
Corruption, Cryptocurrencies, Due Diligence, Europe, European Commission, Russia, Sanctions, Financial Sanctions,In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater where complex games of power, influence and rivalry are played out. At the heart of these interactions are sanctions, instruments...