Regulatory Compliance Journal
In the past decade, the video game industry has managed to dwarf the film, music, and television sectors. It’s estim...
- 12 min read
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges...
- 10 min read
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money l...
- 9 min read
In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 min read
While the world is on hold, financial crime has not taken a step back amidst the coronavirus emergency. Scammers, money...
- 13 min read
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, t...
- 11 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 min read
Every year, the freedom of millions of innocent lives are stolen while an illicit river of money continues to flow, conc...
- 11 min read
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robo...
- 12 min read
VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...
- 4 min read
Facebook made a splash in October 2021 when it rebranded itself to Meta and announced an investment of $10 billion to c...
- 11 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
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
From an extra pair of hands to the person that advises on strategical decisions and the future of your company, consulta...
- 4 min read
In May 2015, the biggest scandal in football history (known as “FIFA Gate”) led to seven FIFA executives being arres...
- 10 min read
How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VA...
- 1 min read
20 articles matching know your customer tag
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
How can AML experts fight trade-base money laundering?
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex schemes, where legitimate business transactions serve as a smokescreen for their illicit activities. How can anti-money laundering experts stop the flow of illegal funds into the wo...
- 7 min read
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How to remotely identify clients and become PSD2 compliant?
PSD2, Europe, Digital, Financial Institutions, Financial operations, EU, Compliance, Financial firms,The European Banking Authority (EBA) published in June 2019 an : Opinion on the elements of strong customer authentication (SCA) under the revised : Payment Services Directive (PSD2) . The Opinion provides non-exhaustive lists of the authentication e...
How do criminals launder their money using the Dark Web?
Blockchain, Money Laundering, Freedom of information, Whistleblowing, Cryptocurrencies, Anti Money Laundering, AML, Prepaid Cards,Drug trade and illegal markets on the dark web have grown exponentially. Criminals are finding new and original ways to launder money generated from their illicit activities. The dark web is an encrypted part of the internet that hosts online conten...
6th AML Directive (AMLD6) : The European Harmonization
AML, Financial Sanctions, European Commission, Financial firms, 6AMLD, Compliance, Money Laundering, Europe, EU, Environmental, Anti Money Laundering, Green Crime,On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through the 6th EU Money Laundering Directive (2018/1673). Member States have until 3 December 2020 to transpose the Sixth AML Directive a...