Regulatory Compliance Journal
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 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
What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is...
- 6 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
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 4 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 min read
Corporate governance standards are a framework within which operational and behavioural standards for the board, the exe...
- 3 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
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s st...
- 10 min read
A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance...
- 3 min read
12 articles matching compliance expert tag
European Data Protection Authorities Websites [Compiled list]
The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded and where personal information is exchanged like an untraceable currency. European Data Protection Authorities (DPAs) have launched a privacy revolution and established the ...
- 5 min read
How is artificial intelligence a challenge to GDPR?
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 issues that demand a hard look at the way AI h...
- 10 min read
How do human traffickers launder money?
Every year, the freedom of millions of innocent lives are stolen while an illicit river of money continues to flow, concealed by sophisticated laundering strategies. These intertwined underworlds not only rob human dignity but pose a formidable challenge to law enforcement agencies worldwide. V...
- 11 min read
How are shell companies used for money laundering?
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and companies for tax evasion, money laundering, and corruption. The scandal sent shockwaves across the world, revealing the detrimental consequences of such entities for the glob...
- 11 min read
How is money laundered through football?
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arrested in Zurich. The accusations focused on the use of bribery, fraud, and money laundering to rig the $150 million media and marketing rights auction for FIFA games in the Amer...
- 10 min read
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Overview and Summary of the 5th AML Directive - AMLD5
AML, Compliance, KYC, Financial firms, Money Laundering, European Commission, 5AMLD, EU, Know your Customer, Politically Exposed Persons,In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers have shown how the rich and powerful use tax havens to hide their wealth. Big companies such as UBS and ABN AMRO are suspected of not...
How are shell companies used for money laundering?
AML, 5AMLD, Anti Money Laundering, Corruption, Compliance, EU, Ethics, KYC, Money Laundering, Red Flags, Tax Havens,In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and companies for tax evasion, money laundering, and corruption. The scandal sent shockwaves across the world, revealing the detriment...
Why do most AML programs fail?
Corruption, AML, Financial Institutions, Compliance, Know your Customer, Risk, Anti Money Laundering, KYC, Tone at the Top, Financial operations, Transaction Monitoring, Ethics, Compliance expert,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 2022, financial institutions were fined a grand total of $4.17 billion (€3.95 billion) worldwide...