Regulatory Compliance Journal
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
It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions an...
- 6 min read
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robo...
- 12 min read
On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protec...
- 9 min read
4 articles matching data breach tag
How is real estate used for money laundering?
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges had invested £1.5 billion in the UK property market, mostly through companies held in Britain’s overseas territories and crown dependencies. The findings exposed Great Br...
- 10 min read
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
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The Banking Industry & Regulatory Compliance Requirements
Financial operations, Financial Institutions, Compliance, Financial firms, Top-down, Insurance, Belgium,Compliance risk is one of the biggest concerns of the banking industry. Failing to comply can have an impact on the reputation of the brand and create a decrease in its customer population. Lack of due diligence in transactions and clients monitoring...
How important are audit trails for your company?
Financial firms, Audit, Ethics, Governance, Conduct Risk, RegTech, Transparency, Financial Institutions, AML, MiFID2, KYC,An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destination of a collection of records that represent a sequence of successive activities or events within an operational environment, a p...
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...