Regulatory Compliance Journal
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 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
Corporate governance standards are a framework within which operational and behavioural standards for the board, the exe...
- 2 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
What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is...
- 6 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
A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance...
- 3 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 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
10 articles matching compliance expert 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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6th AML Directive (AMLD6) : The European Harmonization
AML, Financial Sanctions, European Commission, Financial firms, 6AMLD, Compliance, Money Laundering, Europe, EU, Environmental, Anti Money Laundering, Green Crime,On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through the 6th EU Money Laundering Directive (2018/1673). Member States have until 3 December 2020 to transpose the Sixth AML Directive a...
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...
Financing terrorism: The billion-dollar blood antiquities art dealing
5AMLD, Terrorism Financing, Hawala, Art Dealing, Darkweb, ISIS,The destruction of the ancient city of Palmyra and the beheading of its Antiquities Chief, Khaled al-Asaad, in 2015 by the hands of the Islamic State of Iraq & Syria (ISIS) are still fresh in the minds of many. Beginning in 2014, the terrorist group...