Regulatory Compliance Journal

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

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

It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions an...

In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...

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

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

A Proposal for a Directive which will amend, the Directive 2009/65/EC (UCITS IV Directive) and the Directive 2011/61/EU...

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

In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based...

On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protec...

In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, t...

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

11 articles matching european commission tag

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 ...

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, ...

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...

Redan El Madani - Pideeco Member
Redan El Madani Trainee
Hakim Amri - Pideeco Member
Hakim Amri Trainee
Reeva Manalili - Pideeco Member
Reeva Manalili Trainee
Oscar Canario da Cunha - Pideeco Member
Oscar Canario da Cunha Associate Director

More work

Open Banking - PSD2: the future of financial services

FinTech, Financial Institutions, PSD2, NPPS, EU, Facebook, Europe,

The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the sector to a digital era. Open Banking transition explainedAccording to the definition provided by "Open Banking Europe", the t...

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...

AML - KYC : Impacts of the 4th AML Directive (AMLD4)

Compliance, Financial firms, KYC, AML, Financial Sanctions, Politically Exposed Persons, Europe, EU, European Commission, Anti Money Laundering,

What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has regularly implemented new anti-money laundering directives. On the 20th of May 2015, the European Parliament and the Council issu...