Regulatory Compliance Journal
It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions an...
- 8 min read
🎬 Introduction to RegTech and Regulatory ComplianceThe worldwide economic repercussions of the 2008 financial crisis ...
- 7 min read
Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond?...
- 10 min read
On the 6th of August 2019, the National Bank of Belgium ("NBB") published a press release announcing that in 20...
- 4 min read
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist...
- 9 min read
A strong compliance culture helps to establish the foundation for a lasting positive impact for a company, its employees...
- 7 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 6 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
Corporate governance standards are a framework within which operational and behavioural standards for the board, the exe...
- 6 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
MiFID (Markets in Financial Instruments Directive) was put into force in November 2007 and was created with the objectiv...
- 3 min read
With the rise of environmentally and socially conscious consumers, companies are under more pressure than ever to prove ...
- 10 min read
With the never-ending stream of regulations and obligations imposed on financial institutions, it is no wonder that depa...
- 9 min read
An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...
- 3 min read
MiFID (Markets in Financial Instruments Directive) was put into force in November 2007 and was created with the objectiv...
- 3 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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
In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 min read
20 articles matching financial firms tag
European Payments Package: PSD3 & PSR: What financial institutions need to prepare for
The European Commission's European Payments Package, consisting of the third Payment Services Directive (PSD3) and the new Payment Services Regulation (PSR), represents the most significant overhaul of EU payments regulation since PSD2 in 2015. Together, the directive and the regulation aim ...
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- 8 min read
How to build an effective anti-bribery & corruption program
Your financial institution doesn’t have to be Enron to face a corruption scandal, but a plan to embed integrity deep within your operations is essential. Corruption doesn’t start with bribes but with blind spots in your controls. How does one create an effective anti-bribery & corruption pr...
- 8 min read
AML Package 2024–2026: What Financial Institutions Need to Know about AMLA, AMLR & TFR
The European Union has launched its most ambitious anti-money laundering (AML) reform to date. The “AML Package 2024–2026” introduces a new EU Anti-Money Laundering Authority (AMLA), a directly applicable Anti-Money Laundering Regulation (AMLR), and an updated Transfer of Funds Regulation...
- 9 min read
Why is cash prevalent in money laundering?
Despite the growing prevalence of digital payment systems and tighter financial regulations, cash remains an attractive tool for criminals. Its intractability, portability, and its difficulty to regulate offers a level of anonymity that digital transactions simply cannot match. While government...
- 12 min read
DORA: practical guide for small businesses
Compliance with the Digital Operational Resilience Act (DORA) represents a real challenge for small businesses in the financial sector. Unlike large institutions with dedicated cybersecurity and risk management departments, SMEs often lack specialized resources. They may not even have formal go...
- 8 min read
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Look up company VAT number in Europe
VAT, TVA, VIES, Anti Money Laundering, AML, Europe, BTW, KYC, Know your Customer,How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VAT number of a counterparty or customer? Whether you are a company that has to check whether your counterparty is subject to VAT...
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 2022, financial institutions were fined a grand total of $4.17 billion (€3.95 billion) worldwide...
How can criminology help us understand white collar crime?
Corruption, Money Laundering, Politically Exposed Persons, Red Flags, Risk Based Approach, White Collar Crime, Criminology, Occupational Fraud,Though rare in corporate or finance environments, criminology offers valuable insights. Despite "white-collar crime" often costing more than street crime, society tends to overlook it. Analyzing corporate misconduct through a criminological lens reve...