Regulatory Compliance Journal
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 min read
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January...
- 6 min read
In today's data-driven world, the rapid advancement of artificial intelligence (AI) is revolutionizing industries and...
- 10 min read
PSD3 is not just an update, but the evolution of trust in digital finance. Continuing the progress made by PSD2, the new...
- 9 min read
On the 6th of August 2019, the National Bank of Belgium ("NBB") published a press release announcing that in 20...
- 4 min read
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the ...
- 5 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 min read
Europe has stepped up a gear in the fight against money laundering and the financing of terrorism, with the creation in ...
- 12 min read
Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of ris...
- 2 min read
On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is no...
- 4 min read
Whistleblowing became a subject of concern when major consequences produced by Swiss Leaks and Lux Leaks made the case f...
- 9 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 min read
Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There w...
- 8 min read
A Proposal for a Directive which will amend, the Directive 2009/65/EC (UCITS IV Directive) and the Directive 2011/61/EU...
- 5 min read
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and ...
- 11 min read
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and b...
- 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...
- 8 min read
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate chan...
- 12 min read
20 articles matching eu tag
How will CSDDD impact companies in the EU?
The EU’s Corporate Sustainability Due Diligence Directive (CSDDD) draws a clear legal line between profit and harm. By embedding environmental and human rights due diligence into the core of corporate strategy, the directive redefines what it means to do business responsibly. But what will th...
- 9 min read
How to approach de-risking for AML compliance?
Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi, a U.K.-based economics professor, had his bank accounts abruptly closed after 40 years of banking without any explanation. The most likely reason? His Iranian origin. De-ri...
- 8 min read
How can AML professionals detect smurfing?
Small, frequent transactions may seem harmless, but in the world of AML (Anti-Money Laundering), they are a major tool for money laundering. It is therefore essential that financial institutions deploy monitoring systems capable of detecting these suspicious schemes before the funds are integra...
- 3 min read
How do terrorists finance their activities?
From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities, like the case of Tarek ben Habib ben Al-Toumi Al-Maaroufi, a Belgian national, who was sentenced to six years of prison for association with a terrorist group and terrorist ...
- 7 min read
How will PSD3 shape the future of financial services?
PSD3 is not just an update, but the evolution of trust in digital finance. Continuing the progress made by PSD2, the new regulation aims to further boost competition and consumer protection in electronic payments. It is also designed to empower consumers to securely share their data while gaini...
- 9 min read
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Overview and Summary of the 5th AML Directive - AMLD5
AML, Compliance, KYC, Financial firms, Money Laundering, European Commission, 5AMLD, EU, Know your Customer, Politically Exposed Persons,In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers have shown how the rich and powerful use tax havens to hide their wealth. Big companies such as UBS and ABN AMRO are suspected of not...
How and why to embed AML Lookbacks within financial firms?
Money Laundering, AML, Audit, Audit Findings, Financial operations, Due Diligence, Financial firms,In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of their AML/CTF program, dissecting the nuts and bolts of their procedures and controls. But the current set-up isn’t what they are s...
The KYC Guide for Russian Professional Counterparties
Compliance, Financial firms, KYC, AML, Risk Based Approach, Russia, Financial Institutions, Financial operations, Europe,How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the economy requires some specific attention points regarding client due diligence (the risk exposure assessment process of clients to mon...