Regulatory Compliance Journal
7 articles matching audit findings tag
How can criminology help us understand white collar crime?
Though rare in corporate or finance environments, criminology offers valuable insights. Despite "white-collar crime" often costing more than street crime, society tends to overlook it. Analyzing corporate misconduct through a crimilogical lens reveals the dynamics of deceit, power, and ...
- 10 min read
Financial greenwashing: the dark links between green bonds and corruption.
Faced with the urgent challenge of climate change, green bonds are emerging as an innovative response to finance sustainable projects and encourage the transition to an environmentally friendly economy. However, the persistent threat of corruption undermines these well-intentioned initiatives, ...
- 11 min read
What can be done to improve the efficiency of AML fines?
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 the lack of improvement in the AML system. A ...
- 11 min read
How effective are AML fines?
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist for financial institutions with vast pockets. With trillions of dollars being freely laundered every year and ambiguous structural changes required to effectively combat mone...
- 9 min read
How are charities used for money laundering?
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money laundering activities? While the noble intentions behind charitable giving inspires positive change, criminals have exploited the realm of benevolence, using it as a strategic ...
- 9 min read
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The hidden costs of golden visas
AML, KYC, Europe, Monitoring, Privacy, Reporting, Investment, 5AMLD, Russia, Transparency, Financial Sanctions, Due Diligence, Corruption, Financial Institutions,Over the past years, the golden visa has seen a surge in participation in its programmes. But along with its rising popularity, corruption and AML risks have also seeped into its core. Many argue that citizenship is a public good, not a commodity for...
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...
Protection of Whistleblowers : What is the EU framework?
Whistleblowing, European Commission, Transparency, Financial firms, Data breach, Money Laundering, Financial Institutions, Data Security, Freedom of information,On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protect whistleblowers. This new agreement guarantees a higher level of protection for whistleblowers than the level given in the origin...