Regulatory Compliance Journal
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 recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 5 min read
From global payments to local efficiency, virtual IBANs are redefining how businesses handle their money. But as with an...
- 8 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
Serious fiscal fraud is not just a legal risk, it’s a direct threat to an organization’s reputation. The stakes are ...
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- 9 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 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
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 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
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arres...
- 10 min read
The European Union has launched its most ambitious anti-money laundering (AML) reform to date. The “AML Package 2024...
- 9 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the...
- 6 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
The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in ac...
- 11 min read
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist...
- 9 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 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
20 articles matching anti money laundering tag
European Payments Package: PSD3 & PSR: What financial institutions need to prepare for
The European Commission's European Payments Package, consisting of the third Payment Services Directive (PSD3) and the new Payment Services Regulation (PSR), represents the most significant overhaul of EU payments regulation since PSD2 in 2015. Together, the directive and the regulation aim ...
- 8 min read
How to build an effective anti-bribery & corruption program
Your financial institution doesn’t have to be Enron to face a corruption scandal, but a plan to embed integrity deep within your operations is essential. Corruption doesn’t start with bribes but with blind spots in your controls. How does one create an effective anti-bribery & corruption pr...
- 8 min read
AML Package 2024–2026: What Financial Institutions Need to Know about AMLA, AMLR & TFR
The European Union has launched its most ambitious anti-money laundering (AML) reform to date. The “AML Package 2024–2026” introduces a new EU Anti-Money Laundering Authority (AMLA), a directly applicable Anti-Money Laundering Regulation (AMLR), and an updated Transfer of Funds Regulation...
- 9 min read
Why is cash prevalent in money laundering?
Despite the growing prevalence of digital payment systems and tighter financial regulations, cash remains an attractive tool for criminals. Its intractability, portability, and its difficulty to regulate offers a level of anonymity that digital transactions simply cannot match. While government...
- 12 min read
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
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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...
How is artificial intelligence a challenge to GDPR?
Compliance, Data breach, Data Protection Authority, Data Security, Europe, EU, GDPR, Privacy, Personal Data,In today's data-driven world, the rapid advancement of artificial intelligence (AI) is revolutionizing industries and empowering businesses to unlock unprecedented opportunities. But this changing landscape has given rise to privacy and security i...
How to remotely identify clients and become PSD2 compliant?
PSD2, Europe, Digital, Financial Institutions, Financial operations, EU, Compliance, Financial firms,The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authentication (SCA) under the revised : Payment Services Directive (PSD2) . The Opinion provides non-exhaustive lists of the authentication e...