Regulatory Compliance Journal
20 articles matching eu tag
What is the impact of the EU whistleblowing legislation?
Whistleblowing became a subject of concern when major consequences produced by Swiss Leaks and Lux Leaks made the case for a change in the European framework. In both cases, the whistleblowers worked for private companies prior to leaking information. If their situation was to repeat now, would...
- 9 min read
Why are PEPs under increased scrutiny?
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as government officials, politicians, or high-ranking members of the military. PEPs may also include their family members and close associates. The term "PEP" is often used i...
- 15 min read
The hidden costs of golden visas
Over the past years, the golden visa has seen a surge in participation in its programmes. But along with its rising popularity, corruption and AML risks have also seeped into its core. Many argue that citizenship is a public good, not a commodity for the open market. In recent years, the EU an...
- 14 min read
What are financial crime threats in the metaverse?
Facebook made a splash in October 2021 when it rebranded itself to Meta and announced an investment of $10 billion to create its own metaverse project. But the tech giant is just a drop in a larger ocean. It is estimated that over 160 companies, including Apple and Google, are also plunging in...
- 11 min read
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
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EU proposals: cross-border distribution of investment funds
UCITS, AIFs, Capital Markets Union, ESMA, European Commission, EU, MIFID, Investment Funds, MiFID2,A Proposal for a Directive which will amend, the Directive 2009/65/EC (UCITS IV Directive) and the Directive 2011/61/EU (AIFMD), was adopted on 12 March 2018 by the European Commission. The aim of the new Directive will be to facilitate the cross-bo...
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...
How to write the perfect SAR?
Anti Money Laundering, AML, Audit Findings, Compliance, Due Diligence, Financial Sanctions, KYC, Money Laundering, Red Flags, Risk Based Approach, Reporting, Transaction Monitoring,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 ...