Regulatory Compliance Journal
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance...
- 3 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 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. Working...
- 2 min read
5 articles matching audit findings tag
GDPR: inspiring data protection worldwide
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s strongest collection of data protection rules. As our online presence increases through social media, digital banking, and other means, nations around the globe have come to re...
- 10 min read
Dawn of disruption: predicting AML in the next decade
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robotics, science, and finance. As banks are slowly adapting to high-tech innovations, the world of compliance and AML will face unprecedented changes and challenges in the near ...
- 12 min read
How to write the perfect SAR?
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information available to law enforcement agencies in the fight against financial crime. Yet, the FinCEN Files scandal of 2020 has shown that major banks have consistently failed to write and s...
- 11 min read
Why do most AML programs fail?
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches have hit an all-time high. In 2020, financial institutions were fined a grand total of $15.13 billion (€12.79 billion) worldwide, a 51.3% increase compared to 2019, with U...
- 10 min read
What are the impacts of Financial Data Leaks?
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international journalists in publishing the wrongdoings have ...
- 10 min read
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How do criminals launder their money using video games?
Compliance, Know your Customer, Money Laundering, Anti Money Laundering, AML, Cryptocurrencies, Blockchain, Darkweb, Prepaid Cards,In the past decade, the video game industry has managed to dwarf the film, music, and television sectors. It’s estimated that there are currently 2.5 billion active gamers across the globe who have roughly spent $152.1 billion on games in 2019 al...
Look up company VAT number in Europe
VAT, TVA, VIES, Anti Money Laundering, AML, Europe, BTW, KYC, Know your Customer,How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VAT number of a counterparty or customer? Whether you are a company that has to check whether your counterparty is subject to VAT...
How and why to embed AML Lookbacks within financial firms?
Money Laundering, AML, Audit, Audit Findings, Financial operations, Due Diligence, Financial firms,In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of their AML/CTF program, dissecting the nuts and bolts of their procedures and controls. But the current set-up isn’t what they are s...