Regulatory Compliance Journal
The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in ac...
- 11 min read
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 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
MiFID (Markets in Financial Instruments Directive) was put into force in November 2007 and was created with the objectiv...
- 3 min read
The European Union has launched its most ambitious anti-money laundering (AML) reform to date. The “AML Package 2024...
- 9 min read
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex scheme...
- 7 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 min read
Compliance with the Digital Operational Resilience Act (DORA) represents a real challenge for small businesses in the fi...
- 8 min read
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Il...
- 10 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
It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions an...
- 8 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
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 min read
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s st...
- 10 min read
PSD3 is not just an update, but the evolution of trust in digital finance. Continuing the progress made by PSD2, the new...
- 9 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
In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization ...
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- 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
20 articles matching compliance 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 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...
EWRA - What is Business overall risk exposure assessment?
EWRA, Compliance, Financial firms, ERM, RBA, Reporting, Top-down, Anti Money Laundering, Audit, Risk, Risk Based Approach, Compliance expert, AML,The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. Today, stakeholders are more involved, and they demand greater transparency regarding the risks of a company and how the company rea...
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...