Regulatory Compliance Journal
By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the...
- 6 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 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 February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
Faced with the urgent challenge of climate change, green bonds are emerging as an innovative response to finance sustain...
- 11 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 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
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
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
PSD3 is not just an update, but the evolution of trust in digital finance. Continuing the progress made by PSD2, the new...
- 9 min read
11 articles matching financial operations tag
How to integrate AI into compliance without breaching GDPR & EU AI Act rules?
In an era where artificial intelligence (AI) is transforming how financial institutions manage risk, detect fraud, monitor compliance, and automate oversight, integrating AI into compliance programs offers significant potential. In practice, banks and insurers are already deploying AI in areas ...
- 9 min read
What should financial institutions prepare for under the European Payments Package: PSD3 & PSR?
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 ...
- 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 & cor...
- 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 Fun...
- 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
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What can be done to improve the efficiency of AML fines?
AML, Anti Money Laundering, Compliance, Due Diligence, Financial Institutions, Governance, Money Laundering,The heavy fines imposed on financial institutions for AML deficiencies over the years have frequently fallen short in achieving their goals. This inefficiency is manifest in the repeat offending of such banks, the heavy burden it places on them, and ...
How do terrorists finance their activities?
GAFI, Money Laundering, Risk, Terrorism Financing, Transaction Monitoring, Reporting, Anti Money Laundering, Cryptocurrencies, FATF,From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities, like the case of Tarek ben Habib ben Al-Toumi Al-Maaroufi, a Belgian national, who was sentenced to six years of prison for asso...
How to reduce compliance burden?
Consultant, Compliance expert, Compliance culture, Compliance, Financial Institutions, Financial firms, Compliance burden,With the never-ending stream of regulations and obligations imposed on financial institutions, it is no wonder that departments across the industry struggle to comply and race against the clock to meet their deadlines. But is there a way to reduce th...