Regulatory Compliance Journal
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, t...
- 11 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
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
In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based...
- 6 min read
VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...
- 4 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
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
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 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
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s st...
- 10 min read
12 articles matching european commission tag
How is real estate used for money laundering?
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges had invested £1.5 billion in the UK property market, mostly through companies held in Britain’s overseas territories and crown dependencies. The findings exposed Great Br...
- 10 min read
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...
- 10 min read
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 ...
- 12 min read
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...
- 11 min read
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
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Environmental Crimes & Money Laundering
Environmental, Money Laundering, 6AMLD, EU, Whistleblowing, Green Crime, Red Flags, AML,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 signe...
The Banking Industry & Regulatory Compliance Requirements
Financial operations, Financial Institutions, Compliance, Financial firms, Top-down, Insurance, Belgium,Compliance risk is one of the biggest concerns of the banking industry. Failing to comply can have an impact on the reputation of the brand and create a decrease in its customer population. Lack of due diligence in transactions and clients monitoring...
Outcomes of the FATF October 2019 Plenary Week in Paris
FATF, GAFI, AML, FATF WEEK, Money Laundering, Corruption, Financial Sanctions, Red Flags, Risk Based Approach,For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Financial Intelligence Units, ...) met in Paris for the Financi...