Regulatory Compliance Journal

Financial crime and regulatory compliance information for professionals finance, legal and technology enthusiasts

The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...

The recent creation of Benchmark Regulation has been the catalyst for a major transition from the old regime of benchmar...

Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of ris...

On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...

How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VA...

Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There w...

VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...

How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...

The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the ...

Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...

In recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...

On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is no...

What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...

15 articles matching europe tag

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...

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 ...

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...

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...

What are the impacts of Financial Data Leaks?

In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international journalists in publishing the wrongdoings have ...

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Yanis Triaa - Pideeco Member
Yanis Triaa Trainee
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Hakim Amri Trainee
Momina Zahra - Pideeco Member
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AML Transaction Monitoring & Detection Scenarios

AML, Transaction Monitoring, Due Diligence, Risk Management, KYC, Financial firms, Anti Money Laundering, Detection Scenarios, RegTech, Risk Based Approach, Compliance expert, Red Flags,

Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivity while carefully avoiding pointless investigations by reducing the amount of false-positive alerts. The revision of AML detect...

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...

Facebook & Diem: the sensational entry in the financial world

Cryptocurrencies, Blockchain, Facebook, Financial firms, FinTech, RegTech, Money Laundering, Digital, Anti Money Laundering, Transparency, Financial operations,

By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the American firm Facebook aspires to rely on its 2.4 billion users to reach the forgotten and the destitute people of the convention...