Regulatory Compliance Journal
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authenticati...
- 5 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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
By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the...
- 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
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
9 articles matching financial operations tag
How can criminology help us understand white collar crime?
Though rare in corporate or finance environments, criminology offers valuable insights. Despite "white-collar crime" often costing more than street crime, society tends to overlook it. Analyzing corporate misconduct through a crimilogical lens reveals the dynamics of deceit, power, and ...
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- 10 min read
Financial greenwashing: the dark links between green bonds and corruption.
Faced with the urgent challenge of climate change, green bonds are emerging as an innovative response to finance sustainable projects and encourage the transition to an environmentally friendly economy. However, the persistent threat of corruption undermines these well-intentioned initiatives, ...
- 11 min read
What can be done to improve the efficiency of AML fines?
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 the lack of improvement in the AML system. A ...
- 11 min read
How effective are AML fines?
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 structural changes required to effectively combat mone...
- 9 min read
How are charities used for money laundering?
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money laundering activities? While the noble intentions behind charitable giving inspires positive change, criminals have exploited the realm of benevolence, using it as a strategic ...
- 9 min read
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Google can choose to not apply the right to be forgotten globally
Google, GDPR, Privacy, European Court of Justice, EU, Personal Data, Freedom of information, Preliminary ruling, Europe, Data Protection Authority, Transparency, Digital,On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is not bound to apply the "right to be forgotten" or "de-referencing" globally. Google preliminary ruling caseIn May 2015, the Fren...
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...
How is real estate used for money laundering?
6AMLD, Anti Money Laundering, Corruption, Compliance, Due Diligence, Financial Sanctions, Financial Institutions, Know your Customer, Money Laundering,In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges had invested £1.5 billion in the UK property market, mostly through companies held in Britain’s overseas territories and crown...