Regulatory Compliance Journal

Financial crime and regulatory compliance information for professionals finance, legal and technology enthusiasts

In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based...

In the past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...

An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...

How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...

Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...

VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...

How to find the VAT number of a counterparty or customer ?How can you, as a company or obliged entity, search for the VA...

The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...

What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...

Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...

Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...

The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...

Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...

Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...

The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...

On the 6th of August 2019, the National Bank of Belgium ("NBB") published a press release announcing that in 20...

Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...

19 articles matching kyc tag

How to write the perfect SAR?

Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information available to law enforcement agencies in the fight against financial crime. Yet, the FinCEN Files scandal of 2020 has shown that major banks have consistently failed to write and s...

Why do most AML programs fail?

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 2020, financial institutions were fined a grand total of $15.13 billion (€12.79 billion) worldwide, a 51.3% increase compared to 2019, with U...

What are the impacts of Financial Data Leaks?

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 journalists in publishing the wrongdoings have ...

AML: What is adverse media or negative news?

The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. Newspaper articles, online blogs, and social media are accessible and filterable with one click and may reveal important news on a financial institution’s customer. However, ...

Financing terrorism: The billion-dollar blood antiquities art dealing

The destruction of the ancient city of Palmyra and the beheading of its Antiquities Chief, Khaled al-Asaad, in 2015 by the hands of the Islamic State of Iraq & Syria (ISIS) are still fresh in the minds of many. Beginning in 2014, the terrorist group has wrecked havoc across the Middle East and...

Oscar Canario da Cunha - Pideeco Member
Oscar Canario da Cunha Associate Director
Mary Aspiras - Pideeco Member
Mary Aspiras Trainee
Elise Loncol - Pideeco Member
Elise Loncol Trainee
Diogo Canario da Cunha - Pideeco Member
Diogo Canario da Cunha Junior Computer Scientist Consultant

More work

Intro to DLU4: Foreign accounts and Fiscal Regularisation

Reporting, Tax Havens, Belgium, Consultant, Ethics, EU, Compliance expert,

What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is a Single Discharge Declaration. By introducing the DLU concept, the scope of the Belgian tax authority was to give a chance, to people w...

Outcomes of the FATF October 2019 Plenary Week in Paris

FATF, GAFI, AML, FATF WEEK, Money Laundering, Corruption, Financial Sanctions, Red Flags, Risk Based Approach,

For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Financial Intelligence Units, ...) met in Paris for the Financi...

VAT carousel: fiction or truth for financial institutions ?

VAT, Caroussel, Europe, Know your Customer, KYC, European Commission, VIES, BTW, TVA,

VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels that are exposed after the facts and where banks then do a look back in the transactions on their systems to determine whether som...