Regulatory Compliance Journal
MiFID (Markets in Financial Instruments Directive) was put into force in November 2007 and was created with the objectiv...
- 3 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
With the never-ending stream of regulations and obligations imposed on financial institutions, it is no wonder that depa...
- 9 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
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of ris...
- 2 min read
MiFID (Markets in Financial Instruments Directive) was put into force in November 2007 and was created with the objectiv...
- 3 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 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
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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
By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the...
- 6 min read
A strong compliance culture helps to establish the foundation for a lasting positive impact for a company, its employees...
- 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
Compliance risk is one of the biggest concerns of the banking industry. Failing to comply can have an impact on the repu...
- 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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What is the impact of the EU whistleblowing legislation?
Belgium, Compliance, Data Security, Europe, EU, Whistleblowing, Tax Havens, Personal Data,Whistleblowing became a subject of concern when major consequences produced by Swiss Leaks and Lux Leaks made the case for a change in the European framework. In both cases, the whistleblowers worked for private companies prior to leaking information...
How are gatekeepers used for money laundering?
Anti Money Laundering, Compliance, Due Diligence, Financial Institutions, Money Laundering, KYC, Risk, AML, Know your Customer, Compliance expert, Corruption, Ethics, 5AMLD,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 tha...
How is artificial intelligence a challenge to GDPR?
Compliance, Data breach, Data Protection Authority, Data Security, Europe, EU, GDPR, Privacy, Personal Data,In today's data-driven world, the rapid advancement of artificial intelligence (AI) is revolutionizing industries and empowering businesses to unlock unprecedented opportunities. But this changing landscape has given rise to privacy and security i...