Regulatory Compliance Journal
Financial sanctions and embargos have long been used by governments and international organizations as a means of applyi...
- 12 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 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
In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater...
- 10 min read
In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization ...
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- 10 min read
The recent creation of Benchmark Regulation has been the catalyst for a major transition from the old regime of benchmar...
- 9 min read
With the rise of environmentally and socially conscious consumers, companies are under more pressure than ever to prove ...
- 10 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
How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VA...
- 1 min read
In today's data-driven world, the rapid advancement of artificial intelligence (AI) is revolutionizing industries and...
- 10 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
The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded...
- 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
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 popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
The Corporate sustainability reporting guideline (CSRD) is a new European regulation designed to enhance corporate tran...
- 6 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 min read
VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...
- 4 min read
20 articles matching europe tag
How are gatekeepers used for money laundering?
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Yet, these very players can sometimes become unwitting—or even complicit—partners in money laundering schemes. The expertise that makes these professionals indispensable to ...
- 9 min read
How to improve compliance culture?
A strong compliance culture helps to establish the foundation for a lasting positive impact for a company, its employees, and its clients by achieving ethical practices, clear values, and the respect of local and international legislation. Despite its benefits and legal necessity, most companie...
- 7 min read
How to set up a conflict of interest program
Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond? In the field of business ethics, a strong conflict of interest program is the cornerstone that keeps an organization's reputation intact. With it, transparency isn't ju...
- 10 min read
How will the EU AI Act impact financial services?
In 2017, the European Council emphasized the need to address artificial intelligence (AI) trends while maintaining high standards for data protection and ethics. By 2023, concerns about ChatGPT's misuse led to Italy's temporary ban. The European Union (EU) is now working on the AI Act to ...
- 8 min read
How to conduct KYC on companies
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Illicit money and unlawful actions can be hidden within layers of transactions across subsidiaries and partnerships, obscure beneficial owners, and dubious front businesses. How...
- 10 min read
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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 ...
GDPR Privacy Update: Fines, penalties and recent sanctions
GDPR, Data Security, Data breach, Financial Sanctions, Compliance, Financial firms, Privacy, Personal Data, European Commission, EU,It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions and business priorities following their initial scepticism towards the penalties that were to be imposed by the new regulation. The...
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...