Regulatory Compliance Journal
Compliance risk is one of the biggest concerns of the banking industry. Failing to comply can have an impact on the repu...
- 6 min read
Whistleblowing became a subject of concern when major consequences produced by Swiss Leaks and Lux Leaks made the case f...
- 9 min read
What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is...
- 6 min read
Insurance/reinsurance companies play an important role for the European economy. Many European countries, among them Be...
- 8 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
On the 6th of August 2019, the National Bank of Belgium ("NBB") published a press release announcing that in 20...
- 4 min read
6 articles matching belgium 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 ...
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- 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 to reduce compliance burden?
Consultant, Compliance expert, Compliance culture, Compliance, Financial Institutions, Financial firms, 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 th...
How will PSD3 shape the future of financial services?
PSD3, PSD2, Transparency, Financial operations, Financial Institutions, Compliance, EU, Fraud, Consumer security,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 consu...
Decoding DORA: Navigating Operational Resilience in Financial Services
DORA, Financial Institutions, MiFID2, Reporting, Risk Management, Compliance, Europe, Risk Based Approach, Operational Resilience, Financial operations,In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization of the financial sector. It later would be called the Digital Operational Resilience Act (DORA), and is a part of the Digital Fina...