Regulatory Compliance Journal
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arres...
- 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
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges...
- 10 min read
In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater...
- 10 min read
Over the past years, the golden visa has seen a surge in participation in its programmes. But along with its rising popu...
- 14 min read
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 min read
Faced with the urgent challenge of climate change, green bonds are emerging as an innovative response to finance sustain...
- 11 min read
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and ...
- 11 min read
Though rare in corporate or finance environments, criminology offers valuable insights. Despite "white-collar crime&...
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- 10 min read
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, t...
- 11 min read
Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond?...
- 10 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
13 articles matching corruption tag
How to approach de-risking for AML compliance?
Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi, a U.K.-based economics professor, had his bank accounts abruptly closed after 40 years of banking without any explanation. The most likely reason? His Iranian origin. De-ri...
- 8 min read
How can AML professionals detect smurfing?
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 suspicious schemes before the funds are integra...
- 3 min read
How do terrorists finance their activities?
From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities, like the case of Tarek ben Habib ben Al-Toumi Al-Maaroufi, a Belgian national, who was sentenced to six years of prison for association with a terrorist group and terrorist ...
- 7 min read
How will PSD3 shape the future of financial services?
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 consumers to securely share their data while gaini...
- 9 min read
How to reduce 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 this burden? Updated AML and KYC requirements,...
- 9 min read
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AML - KYC : Impacts of the 4th AML Directive (AMLD4)
Compliance, Financial firms, KYC, AML, Financial Sanctions, Politically Exposed Persons, Europe, EU, European Commission, Anti Money Laundering,What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has regularly implemented new anti-money laundering directives. On the 20th of May 2015, the European Parliament and the Council issu...
How has Russia circumvented sanctions?
Corruption, Cryptocurrencies, Due Diligence, Europe, European Commission, Russia, Sanctions, Financial Sanctions,In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater where complex games of power, influence and rivalry are played out. At the heart of these interactions are sanctions, instruments...
Which Financial Abuses are associated with Prepaid Cards ?
Money Laundering, NPPS, Financial firms, KYC, AML, Prepaid Cards, Know your Customer, Terrorism Financing, Financial Institutions, Anti Money Laundering, Red Flags,Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of payment, among which Prepaid Cards and digital currencies. In 2013 the Financial Action Task Force (FATF) had raised a non-binding ...