Regulatory Compliance Journal
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 4 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
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 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
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and b...
- 11 min read
The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in ac...
- 11 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 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization ...
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- 10 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 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
Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There w...
- 8 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 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
Over the past years, the golden visa has seen a surge in participation in its programmes. But along with its rising popu...
- 14 min read
In recent years, the banking sector in the European Union has been shaken by different scandals related to money launder...
- 5 min read
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robo...
- 12 min read
Corporate governance standards are a framework within which operational and behavioural standards for the board, the exe...
- 6 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
20 articles matching financial institutions tag
How has Russia circumvented sanctions?
In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater where complex games of power, influence and rivalry are played out. At the heart of these interactions are sanctions, instruments often used to express disagreement, inflict ...
- 10 min read
How to set up an efficient whistleblowing channel?
In today's corporate environment, transparency and ethical conduct are crucial, making whistleblowing channels vital for reporting unethical practices without fear of retaliation. An effective whistleblowing system promotes integrity and shields organizations from legal and reputational harm...
- 10 min read
How to build an effective KYC program
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated methods to exploit vulnerabilities within financial systems and testing the boundaries of traditional KYC practices. How can compliance experts create robust defences and iden...
- 9 min read
CSRD: Are you really ready for the new era of CSR reporting?
The Corporate sustainability reporting guideline (CSRD) is a new European regulation designed to enhance corporate transparency in terms of sustainable development. It replaces the Directive on the publication of non-financial and diversity-related information (NFRD). It considerably extends t...
- 6 min read
Decoding DORA: Navigating Operational Resilience in Financial Services
In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization of the financial sector. It later would be called the Digital Operational Resilience Act (DORA), and is a part of the Digital Finance Package (DFP), which aims to support inno...
- 10 min read
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The UBO Register in practice | Belgium
UBO, UBO Register, AML, Financial Institutions, OECD, Europe, EU, Belgium,Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There were a number of start-up problems that made it difficult to transmit all the data on time. We were finally able to do so, but ...
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...
What are financial crime threats in the metaverse?
Anti Money Laundering, Compliance, Data breach, Digital, Due Diligence, FATF, Know your Customer, KYC, Money Laundering, Personal Data,Facebook made a splash in October 2021 when it rebranded itself to Meta and announced an investment of $10 billion to create its own metaverse project. But the tech giant is just a drop in a larger ocean. It is estimated that over 160 companies, inc...