Regulatory Compliance Journal
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 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
Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There w...
- 7 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company. Working...
- 2 min read
Compliance risk is one of the biggest concerns of the banking industry. Failing to comply can have an impact on the repu...
- 5 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
🎬 Introduction to RegTech and Regulatory ComplianceThe worldwide economic repercussions of the 2008 financial crisis ...
- 7 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 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
The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the ...
- 5 min read
Corporate governance standards are a framework within which operational and behavioural standards for the board, the exe...
- 2 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
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 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
16 articles matching financial institutions 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...
- 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
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 ...
- 10 min read
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, ...
- 11 min read
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...
- 10 min read
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How to book a good consultant for your projects?
Governance, Compliance, Procurement, Know your Customer, Financial Institutions, Compliance expert, FinTech, Audit Findings, Consultant, AML, Financial firms,From an extra pair of hands to the person that advises on strategical decisions and the future of your company. Working as a consultant at another company starts with an understanding of the business model and the company culture. This requires the ...
How to write the perfect SAR?
Anti Money Laundering, AML, Audit Findings, Compliance, Due Diligence, Financial Sanctions, KYC, Money Laundering, Red Flags, Risk Based Approach, Reporting, Transaction Monitoring,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 ...
How is BMR changing the landscape of benchmarks?
Compliance, European Commission, Europe, BMR, Benchmark Regulation, Euribor, , Eonia,The recent creation of Benchmark Regulation has been the catalyst for a major transition from the old regime of benchmarks towards new and alternative reference rates set to transform the world of finance. In the past years, a global benchmark refor...