Regulatory Compliance Journal
The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded...
- 5 min read
1 articles matching edpb tag
European Payments Package: PSD3 & PSR: What financial institutions need to prepare for
The European Commission's European Payments Package, consisting of the third Payment Services Directive (PSD3) and the new Payment Services Regulation (PSR), represents the most significant overhaul of EU payments regulation since PSD2 in 2015. Together, the directive and the regulation aim ...
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- 8 min read
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...
- 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
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What can be done to improve the efficiency of AML fines?
AML, Anti Money Laundering, Compliance, Due Diligence, Financial Institutions, Governance, Money Laundering,The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in achieving their goals. This inefficiency is manifest in the repeat offending of such banks, the heavy burden it places on them, and ...
How are charities used for money laundering?
AML, Anti Money Laundering, Cryptocurrencies, Due Diligence, Ethics, Financial Sanctions, Know your Customer, KYC, Money Laundering, Red Flags, Terrorism Financing,As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money laundering activities? While the noble intentions behind charitable giving inspires positive change, criminals have exploited the r...
AML: What is adverse media or negative news?
Compliance, Anti Money Laundering, RegTech, Know your Customer, Red Flags, KYC, Due Diligence, AML, Money Laundering, KYC,The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. Newspaper articles, online blogs, and social media are accessible and filterable with one click and may reveal important news on a ...