Regulatory Compliance Journal
Small, frequent transactions may seem harmless, but in the world of AML (Anti-Money Laundering), they are a major tool f...
- 3 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
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 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
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and b...
- 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
Drug trade and illegal markets on the dark web have grown exponentially. Criminals are finding new and original ways to ...
- 9 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
Over the past years, the golden visa has seen a surge in participation in its programmes. But along with its rising popu...
- 14 min read
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 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
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 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
From global payments to local efficiency, virtual IBANs are redefining how businesses handle their money. But as with an...
- 8 min read
20 articles matching aml tag
DORA: practical guide for small businesses
Compliance with the Digital Operational Resilience Act (DORA) represents a real challenge for small businesses in the financial sector. Unlike large institutions with dedicated cybersecurity and risk management departments, SMEs often lack specialized resources. They may not even have formal go...
- 8 min read
How to detect serious fiscal fraud?
Serious fiscal fraud is not just a legal risk, it’s a direct threat to an organization’s reputation. The stakes are rising as European and national authorities ramp up enforcement under evolving frameworks like the Directive on Administrative Cooperation (DAC), the Anti-Money Laundering Dir...
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- 9 min read
How will CSDDD impact companies in the EU?
The EU’s Corporate Sustainability Due Diligence Directive (CSDDD) draws a clear legal line between profit and harm. By embedding environmental and human rights due diligence into the core of corporate strategy, the directive redefines what it means to do business responsibly. But what will th...
- 9 min read
How to approach de-risking for AML compliance?
Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi, a U.K.-based economics professor, had his bank accounts abruptly closed after 40 years of banking without any explanation. The most likely reason? His Iranian origin. De-ri...
- 8 min read
How can AML professionals detect smurfing?
Small, frequent transactions may seem harmless, but in the world of AML (Anti-Money Laundering), they are a major tool for money laundering. It is therefore essential that financial institutions deploy monitoring systems capable of detecting these suspicious schemes before the funds are integra...
- 3 min read
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Overview and Summary of the 5th AML Directive - AMLD5
AML, Compliance, KYC, Financial firms, Money Laundering, European Commission, 5AMLD, EU, Know your Customer, Politically Exposed Persons,In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers have shown how the rich and powerful use tax havens to hide their wealth. Big companies such as UBS and ABN AMRO are suspected of not...
How to set up a conflict of interest program
Conflict of interest, Compliance, Audit Findings, Corruption, Ethics, Financial firms, Red Flags,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 reputat...
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...