Regulatory Compliance Journal
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 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
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 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
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate chan...
- 12 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
Drug trade and illegal markets on the dark web have grown exponentially. Criminals are finding new and original ways to ...
- 9 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 heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in ac...
- 11 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 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
While the world is on hold, financial crime has not taken a step back amidst the coronavirus emergency. Scammers, money...
- 13 min read
20 articles matching aml tag
How has Russia circumvented 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 often used to express disagreement, inflict ...
- 10 min read
How to set up an efficient whistleblowing channel?
In today's corporate environment, transparency and ethical conduct are crucial, making whistleblowing channels vital for reporting unethical practices without fear of retaliation. An effective whistleblowing system promotes integrity and shields organizations from legal and reputational harm...
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- 10 min read
How to build an effective KYC program
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated methods to exploit vulnerabilities within financial systems and testing the boundaries of traditional KYC practices. How can compliance experts create robust defences and iden...
- 9 min read
CSRD: Are you really ready for the new era of CSR reporting?
The Corporate sustainability reporting guideline (CSRD) is a new European regulation designed to enhance corporate transparency in terms of sustainable development. It replaces the Directive on the publication of non-financial and diversity-related information (NFRD). It considerably extends t...
- 6 min read
Decoding DORA: Navigating Operational Resilience in Financial Services
In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization of the financial sector. It later would be called the Digital Operational Resilience Act (DORA), and is a part of the Digital Finance Package (DFP), which aims to support inno...
- 10 min read
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What are worldwide AML regulations for cryptocurrency ?
5AMLD, AML, Blockchain, Compliance, Digital, Cryptocurrencies, Due Diligence, EU, Europe, FATF, GAFI, KYC, Money Laundering, Terrorism Financing, Risk,The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using them for a variety of purposes, including international money transfers and online purchases. In order to protect the integrity of ...
What can be done to improve the efficiency of AML fines?
AML, Anti Money Laundering, Compliance, Due Diligence, Financial Institutions, Governance, Money Laundering,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 ...
What are Hawala transactions and how do they work?
European Commission, Hawala, Money Laundering, AML, Know your Customer, Due Diligence, Transaction Monitoring, Financial operations, Red Flags, KYC,In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based on the Europol press release, the cooperation between French and Italian police led to the arrest of 19 suspects. Algerian authori...