Regulatory Compliance Journal
The Corporate sustainability reporting guideline (CSRD) is a new European regulation designed to enhance corporate tran...
- 6 min read
1 articles matching csrd tag
How will the EU AI Act impact financial services?
In 2017, the European Council emphasized the need to address artificial intelligence (AI) trends while maintaining high standards for data protection and ethics. By 2023, concerns about ChatGPT's misuse led to Italy's temporary ban. The European Union (EU) is now working on the AI Act to ...
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- 8 min read
How to conduct KYC on companies
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Illicit money and unlawful actions can be hidden within layers of transactions across subsidiaries and partnerships, obscure beneficial owners, and dubious front businesses. How...
- 10 min read
How has Russia circumvented 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 often used to express disagreement, inflict ...
- 10 min read
How to set up an efficient whistleblowing channel?
In today's corporate environment, transparency and ethical conduct are crucial, making whistleblowing channels vital for reporting unethical practices without fear of retaliation. An effective whistleblowing system promotes integrity and shields organizations from legal and reputational harm...
- 10 min read
How to build an effective KYC program
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated methods to exploit vulnerabilities within financial systems and testing the boundaries of traditional KYC practices. How can compliance experts create robust defences and iden...
- 9 min read
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How effective are AML fines?
Anti Money Laundering, Audit Findings, Compliance, Due Diligence, Financial Institutions, Financial firms, Money Laundering, Risk Based Approach,Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist for financial institutions with vast pockets. With trillions of dollars being freely laundered every year and ambiguous structura...
GDPR Privacy Update: Fines, penalties and recent sanctions
GDPR, Data Security, Data breach, Financial Sanctions, Compliance, Financial firms, Privacy, Personal Data, European Commission, EU,It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions and business priorities following their initial scepticism towards the penalties that were to be imposed by the new regulation. The...
Psd2, Brexit & the rise of payment services market in Belgium
PSD2, Compliance expert, EU, KYC, Belgium, Financial Institutions, NBB, Financial firms, Know your Customer,On the 6th of August 2019, the National Bank of Belgium ("NBB") published a press release announcing that in 2019, there was substantial growth of applications for the execution of payment activities in Belgium. A total of 34 companies are now licen...