Regulatory Compliance Journal
In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated ...
- 9 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
Small, frequent transactions may seem harmless, but in the world of AML (Anti-Money Laundering), they are a major tool f...
- 3 min read
When Microsoft unveiled the HoloLens 2 in early 2019, it was pitched as a cutting-edge tool for consumers and businesses...
- 9 min read
With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-com...
- 10 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 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
Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi,...
- 8 min read
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Il...
- 10 min read
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 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
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January...
- 6 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
An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...
- 3 min read
20 articles matching kyc 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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European Data Protection Authorities Websites [Compiled list]
Data Protection Authority, GDPR, National Personal Data Authority, Europe, Data Protection Watchdog, DPA, EDPB, Privacy,The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded and where personal information is exchanged like an untraceable currency. European Data Protection Authorities (DPAs) have launc...
Open Banking - PSD2: the future of financial services
FinTech, Financial Institutions, PSD2, NPPS, EU, Facebook, Europe,The future of banking is changing and Open Banking is an emerging trend that will evolve the banking world and lead the sector to a digital era. Open Banking transition explainedAccording to the definition provided by "Open Banking Europe", the t...
The effectiveness of financial sanctions and embargos
Compliance, Europe, Financial Sanctions, Red Flags, Politically Exposed Persons, Russia, Transaction,Financial sanctions and embargos have long been used by governments and international organizations as a means of applying economic pressure on rogue states in order to achieve political objectives. These measures aim to restrict or cut off the flow ...