Regulatory Compliance Journal
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 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
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 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
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 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
As funds flow into the hands of charities, an unsettling question arises: is your donation inadvertently fueling money l...
- 9 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
An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destinat...
- 3 min read
VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels ...
- 4 min read
Politically exposed persons (PEPs) are individuals who have been entrusted with prominent public functions, such as gove...
- 15 min read
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 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
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
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of pa...
- 6 min read
20 articles matching kyc tag
How can criminology help us understand white collar crime?
Though rare in corporate or finance environments, criminology offers valuable insights. Despite "white-collar crime" often costing more than street crime, society tends to overlook it. Analyzing corporate misconduct through a crimilogical lens reveals the dynamics of deceit, power, and ...
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- 10 min read
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
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Apply a Top-down approach for Regulatory Compliance Ops
Governance, MIFID, Compliance expert, Tone at the Top, Top-down, MiFID2, Audit Findings, Transparency,A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance Officer to build a strong Governance. This principle is also known as “tone at the top” in ethical and responsible business b...
What are the EU's Anti-Money Laundering Directives?
5AMLD, 6AMLD, AML, Anti Money Laundering, Compliance, Compliance expert, Consultant, EU, Europe, European Commission, European Court of Justice, Financial Institutions, Money Laundering, Politically Exposed Persons,Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and be able to fight new money laundering and terrorist financing techniques (e.g.: MiCA to regulate crypto-currencies). Today, moder...
KYC Business: tax havens, embargoes & sanctioned countries
Financial Sanctions, OECD, Financial firms, KYC, Compliance, Tax Havens, Red Flags, AML, Risk Based Approach, EU, Corruption, Know your Customer,Each year we are entitled to different lists about tax havens issued by governments or international organisations, but what is the difference between these lists? In October 2022, the European Union updated its list of non-cooperative tax jurisdi...