Regulatory Compliance Journal
In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based...
- 6 min read
On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protec...
- 9 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
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, t...
- 10 min read
In recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 4 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 the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 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...
- 6 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 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
VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...
- 4 min read
11 articles matching european commission tag
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...
- 10 min read
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 ...
- 10 min read
AML: What is adverse media or negative news?
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. Newspaper articles, online blogs, and social media are accessible and filterable with one click and may reveal important news on a financial institution’s customer. However, ...
- 11 min read
Financing terrorism: The billion-dollar blood antiquities art dealing
The destruction of the ancient city of Palmyra and the beheading of its Antiquities Chief, Khaled al-Asaad, in 2015 by the hands of the Islamic State of Iraq & Syria (ISIS) are still fresh in the minds of many. Beginning in 2014, the terrorist group has wrecked havoc across the Middle East and...
- 10 min read
Environmental Crimes & Money Laundering
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate change. The yearning for a profound change and not a “back to normal” has been seen in the past months with the open letter signed by 200 scientists and celebrities published...
- 11 min read
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Conduct Risk - Changing governance principles
Conduct Risk, Risk, Compliance, Financial firms, Risk Management, Transparency, EU, Europe, Ethics, Financial Institutions,Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of risk like liquidity, market, credit and operational risk. Looking at peers in the market will allow benchmarking and reflection if ...
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...
Why do most AML programs fail?
Corruption, AML, Financial Institutions, Compliance, Know your Customer, Risk, Anti Money Laundering, KYC, Tone at the Top, Financial operations, Transaction Monitoring, Ethics, Compliance expert,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) worldwi...