Regulatory Compliance Journal
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
Corporate governance standards are a framework within which operational and behavioural standards for the board, the exe...
- 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
With the never-ending stream of regulations and obligations imposed on financial institutions, it is no wonder that depa...
- 9 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 6 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 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
What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is...
- 6 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
On the 6th of August 2019, the National Bank of Belgium ("NBB") published a press release announcing that in 20...
- 4 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated ...
- 9 min read
A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance...
- 3 min read
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
15 articles matching compliance expert tag
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...
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- 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
How to detect serious fiscal fraud?
Serious fiscal fraud is not just a legal risk, it’s a direct threat to an organization’s reputation. The stakes are rising as European and national authorities ramp up enforcement under evolving frameworks like the Directive on Administrative Cooperation (DAC), the Anti-Money Laundering Dir...
- 9 min read
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SEPA Instant Payments : understanding the requirements and deadlines of regulation 2024/886
AML, Compliance, Data Security, EU, Financial Institutions, GDPR, Know your Customer, KYC, Risk, instant payment, IPR, VoP, Transaction, Sanctions,The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January 09, 2025, instant payments are set to become an integrated part of day-to-day banking. The Instant payment regulation (IPR) was ...
How can AML professionals detect smurfing?
AML, 5AMLD, Compliance, Financial Institutions, KYC, Money Laundering, Reporting, Transaction Monitoring,Small, frequent transactions may seem harmless, but in the world of AML (Anti-Money Laundering), they are a major tool for money laundering. It is therefore essential that financial institutions deploy monitoring systems capable of detecting these su...
KYC Business: tax havens, embargoes & sanctioned countries
Financial Sanctions, OECD, Financial firms, KYC, Compliance, Tax Havens, Red Flags, AML, Risk Based Approach, EU, Corruption, Know your Customer,Each year we are entitled to different lists about tax havens issued by governments or international organisations, but what is the difference between these lists? In October 2022, the European Union updated its list of non-cooperative tax jurisdi...