Regulatory Compliance Journal
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex scheme...
- 7 min read
In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater...
- 10 min read
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges...
- 10 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
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money l...
- 9 min read
Financial sanctions and embargos have long been used by governments and international organizations as a means of applyi...
- 12 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 min read
It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions an...
- 8 min read
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 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
13 articles matching financial sanctions tag
European Payments Package: PSD3 & PSR: What financial institutions need to prepare for
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 ...
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- 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 & corruption pr...
- 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 Funds Regulation...
- 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
DORA: practical guide for small businesses
Compliance with the Digital Operational Resilience Act (DORA) represents a real challenge for small businesses in the financial sector. Unlike large institutions with dedicated cybersecurity and risk management departments, SMEs often lack specialized resources. They may not even have formal go...
- 8 min read
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Protection of Whistleblowers : What is the EU framework?
Whistleblowing, European Commission, Transparency, Financial firms, Data breach, Money Laundering, Financial Institutions, Data Security, Freedom of information,On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protect whistleblowers. This new agreement guarantees a higher level of protection for whistleblowers than the level given in the origin...
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 ...
What is good corporate governance?
Conduct Risk, Governance, Compliance expert, Compliance, Financial firms, Financial Institutions, Consultant,Corporate governance standards are a framework within which operational and behavioural standards for the board, the executive management and the wider staff are set. Hierarchy in harmony. It comes largely with an accountability movement, better mana...