Regulatory Compliance Journal
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
Faced with the urgent challenge of climate change, green bonds are emerging as an innovative response to finance sustain...
- 11 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
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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
By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the...
- 6 min read
10 articles matching financial operations tag
SEPA Instant Payments : understanding the requirements and deadlines of regulation 2024/886
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January 09, 2025, instant payments are set to become an integrated part of day-to-day banking. The Instant payment regulation (IPR) was voted on 13/03/24 and was effective by 08/04...
- 6 min read
How are gatekeepers used for money laundering?
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 that makes these professionals indispensable to ...
- 9 min read
How to improve compliance culture?
A strong compliance culture helps to establish the foundation for a lasting positive impact for a company, its employees, and its clients by achieving ethical practices, clear values, and the respect of local and international legislation. Despite its benefits and legal necessity, most companie...
- 7 min read
How to set up a conflict of interest program
Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond? In the field of business ethics, a strong conflict of interest program is the cornerstone that keeps an organization's reputation intact. With it, transparency isn't ju...
- 10 min read
How will the EU AI Act impact financial services?
In 2017, the European Council emphasized the need to address artificial intelligence (AI) trends while maintaining high standards for data protection and ethics. By 2023, concerns about ChatGPT's misuse led to Italy's temporary ban. The European Union (EU) is now working on the AI Act to ...
- 8 min read
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AML Transaction Monitoring & Detection Scenarios
AML, Transaction Monitoring, Due Diligence, Risk Management, KYC, Financial firms, Anti Money Laundering, Detection Scenarios, RegTech, Risk Based Approach, Compliance expert, Red Flags,Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivity while carefully avoiding pointless investigations by reducing the amount of false-positive alerts. The revision of AML detect...
What are the impacts of Financial Data Leaks?
Politically Exposed Persons, 6AMLD, DPA, Transparency, Data Security, Know your Customer, European Commission, Data breach, Digital, Money Laundering, Corruption,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 jo...
How effective are AML fines?
Anti Money Laundering, Audit Findings, Compliance, Due Diligence, Financial Institutions, Financial firms, Money Laundering, Risk Based Approach,Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist for financial institutions with vast pockets. With trillions of dollars being freely laundered every year and ambiguous structura...