Regulatory Compliance Journal
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
In recent years, regulators have begun to scrutinize more closely financial institutions regarding the soundness of thei...
- 8 min read
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through ...
- 3 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 world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protec...
- 9 min read
Despite the growing prevalence of digital payment systems and tighter financial regulations, cash remains an attractive ...
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- 12 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
By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the...
- 6 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robo...
- 12 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
Since 1991, the European Union has regularly updated and released new anti-money laundering directives to adapt to and b...
- 11 min read
In the past decade, the video game industry has managed to dwarf the film, music, and television sectors. It’s estim...
- 12 min read
The coronavirus pandemic has reinforced the hunger to urge world leaders to take consistent action to fight climate chan...
- 12 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
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex scheme...
- 7 min read
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. N...
- 11 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
20 articles matching money laundering 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 ...
- 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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Financial institutions against money laundering | AML
AML, Money Laundering, EU, Financial Sanctions, European Commission, 5AMLD, Financial Institutions, Anti Money Laundering, Europe, 6AMLD,In recent years, the banking sector in the European Union has been shaken by different scandals related to money laundering. On July 24th, 2019, the European Commission published reports including one on the assessment of recent alleged money launde...
The KYC Guide for Russian Professional Counterparties
Compliance, Financial firms, KYC, AML, Risk Based Approach, Russia, Financial Institutions, Financial operations, Europe,How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the economy requires some specific attention points regarding client due diligence (the risk exposure assessment process of clients to mon...
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...