Regulatory Compliance Journal
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist...
- 9 min read
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money l...
- 9 min read
When Microsoft unveiled the HoloLens 2 in early 2019, it was pitched as a cutting-edge tool for consumers and businesses...
- 9 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 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and ...
- 11 min read
With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-com...
- 10 min read
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
Facebook made a splash in October 2021 when it rebranded itself to Meta and announced an investment of $10 billion to c...
- 11 min read
From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities...
- 7 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 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
In recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 5 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 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
The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in ac...
- 11 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 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 anti money laundering tag
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
How do terrorists finance their activities?
From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities, like the case of Tarek ben Habib ben Al-Toumi Al-Maaroufi, a Belgian national, who was sentenced to six years of prison for association with a terrorist group and terrorist ...
- 7 min read
How will PSD3 shape the future of financial services?
PSD3 is not just an update, but the evolution of trust in digital finance. Continuing the progress made by PSD2, the new regulation aims to further boost competition and consumer protection in electronic payments. It is also designed to empower consumers to securely share their data while gaini...
- 9 min read
How to reduce compliance burden?
With the never-ending stream of regulations and obligations imposed on financial institutions, it is no wonder that departments across the industry struggle to comply and race against the clock to meet their deadlines. But is there a way to reduce this burden? Updated AML and KYC requirements,...
- 9 min read
How to detect dual-use items?
When Microsoft unveiled the HoloLens 2 in early 2019, it was pitched as a cutting-edge tool for consumers and businesses to experience augmented reality like never before. But the same technology was being adapted for military use under a $479 million contract with the U.S. Army. This dual-purp...
- 9 min read
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How the EU’s DSA and DMA are redefining digital platform regulations
Consultant, Financial Institutions, DSA, DMA, Digital Service Act, Digital Market Act regulations, gatekeeper, Freedom of information, European Commission, Digital, Consumer security, Google,The Big Four of technology—Google, Amazon, Facebook, and Apple—have become integral to our daily lives, influencing everything from simple online searches to the handling of our personal data. With their growing dominance and impact, these inter...
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...
Outcomes of the FATF October 2019 Plenary Week in Paris
FATF, GAFI, AML, FATF WEEK, Money Laundering, Corruption, Financial Sanctions, Red Flags, Risk Based Approach,For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Financial Intelligence Units, ...) met in Paris for the Financi...