Regulatory Compliance Journal
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
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi,...
- 8 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
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
🎬 Introduction to RegTech and Regulatory ComplianceThe worldwide economic repercussions of the 2008 financial crisis ...
- 7 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
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 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
Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond?...
- 10 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 Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 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
An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...
- 3 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
20 articles matching financial firms tag
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...
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- 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
How to detect serious fiscal fraud?
Serious fiscal fraud is not just a legal risk, it’s a direct threat to an organization’s reputation. The stakes are rising as European and national authorities ramp up enforcement under evolving frameworks like the Directive on Administrative Cooperation (DAC), the Anti-Money Laundering Dir...
- 9 min read
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How to approach de-risking for AML compliance?
Due Diligence, Financial Institutions, Financial firms, Know your Customer, KYC, Monitoring, Politically Exposed Persons, Reporting, Risk Based Approach, Risk Management,Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi, a U.K.-based economics professor, had his bank accounts abruptly closed after 40 years of banking without any explanation. The mo...
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...
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...