Regulatory Compliance Journal
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money l...
- 9 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
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 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
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is introduced. Th...
- 5 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 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 past few years, many scandals related to money laundering have been recorded. For instance, the Panama Papers hav...
- 6 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
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Il...
- 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
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...
- 4 min read
In 2016, Panama Papers exposed a vast database of 214.000 offshore shell companies used by a variety of individuals and ...
- 11 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
What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has...
- 2 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 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
20 articles matching kyc tag
How to detect dual-use items?
When Microsoft unveiled the HoloLens 2 in early 2019, it was pitched as a cutting-edge tool for consumers and businesses to experience augmented reality like never before. But the same technology was being adapted for military use under a $479 million contract with the U.S. Army. This dual-purp...
- 9 min read
Virtual IBANs: a new weapon for cybercriminals?
From global payments to local efficiency, virtual IBANs are redefining how businesses handle their money. But as with any financial innovation, they come with potential risks, including exposure to fraud, regulatory complexities, and cybersecurity vulnerabilities that demand careful management....
- 8 min read
AMLA in action: strengthening AML efforts
Europe has stepped up a gear in the fight against money laundering and the financing of terrorism, with the creation in 2021 of the AMLA, also known as the European Anti-Money Laundering Authority. Money laundering and the financing of terrorism (ML/FT) is a long-standing phenomenon, which has ...
- 12 min read
How the EU’s DSA and DMA are redefining digital platform regulations
The Big Four of technology—Google, Amazon, Facebook, and Apple—have become integral to our daily lives, influencing everything from simple online searches to the handling of our personal data. With their growing dominance and impact, these internet giants wield a level of power that has pl...
- 8 min read
SEPA Instant Payments : understanding the requirements and deadlines of regulation 2024/886
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January 09, 2025, instant payments are set to become an integrated part of day-to-day banking. The Instant payment regulation (IPR) was voted on 13/03/24 and was effective by 08/04...
- 6 min read
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Why are PEPs under increased scrutiny?
EU, AML, 5AMLD, 6AMLD, KYC, GAFI, Compliance, Compliance expert, Consultant, Conduct Risk, Due Diligence, Financial Institutions,Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as government officials, politicians, or high-ranking members of the military. PEPs may also include their family members and close assoc...
How to set up a conflict of interest program
Conflict of interest, Compliance, Audit Findings, Corruption, Ethics, Financial firms, Red Flags,Imagine a situation in which the integrity of your organisation is corrupted by personal gain – how would you respond? In the field of business ethics, a strong conflict of interest program is the cornerstone that keeps an organization's reputat...
Regulatory Compliance for Insurance and Reinsurance Firms
Reinsurance, Solvency II, PRIIPS, KID, Risk, Financial solvency, Transparency, Reporting, Governance, Ethics, Privacy, FSMA, NBB, Belgium, MiFID2, Insurance,Insurance/reinsurance companies play an important role for the European economy. Many European countries, among them Belgium, are listed in the top 20 OECD countries with the highest gross insurance premiums, with Belgian premiums reaching around 30...