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VAT carousel, a fiction or a truth for financial institutions ?
VAT Carousels - The look back in the transactions For several years now there have been occasional stories of VAT carousels that are exposed after the facts and where banks then do a lo...
- 4 min read
The rising cost of regulatory compliance for financial institutions
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is put in place. The stakeholders fear that the cost of compliance will cut the gr...
- 4 min read
Outcomes of the FATF October 2019 Plenary Week in Paris
For one week, from 13 to 18 October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Financial ...
- 5 min read
13-18 October : FATF Meeting Week in Paris to discuss ways to contribute to financial safety and security (AML)
For one week, from 13 October to 18 October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Fi...
- 3 min read
ECJ preliminary opinion gives Google the choice not to apply the "right to be forgotten" globally
On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is not bound to apply the "right to be forgotten" or "d...
- 4 min read
Regulatory Compliance for European Insurance and Reinsurance Firms
Insurance/reinsurance companies play an important role for the European economy. Many European countries, among them Belgium, are listed in the top 20 OECD countries with the highest gross insurance premiums, with Belgian premiums reaching around 30 billion US dollars in 2017.The Belgian government...
How Hawala transactions work and business compliance challenges
In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based on the Europol press release, French and Italian police cooperated and 19 suspects were arrested. Algerian authorities also seized gold of almost €1 million value. This is o...
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