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VAT carousel, a fiction or a truth for financial institutions ?
VAT Carousels - The look back in the transactions For several years now there have been occasional stories of VAT carousels that are exposed after the facts and where banks then do a lo...
- 4 min read
The rising cost of regulatory compliance for financial institutions
Businesses are increasingly worried about regulatory costs that arise every time a new legal framework is put in place. The stakeholders fear that the cost of compliance will cut the gr...
- 4 min read
Outcomes of the FATF October 2019 Plenary Week in Paris
For one week, from 13 to 18 October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Financial ...
- 5 min read
13-18 October : FATF Meeting Week in Paris to discuss ways to contribute to financial safety and security (AML)
For one week, from 13 October to 18 October, representatives of 205 countries and jurisdictions, the IMF, UN, World Bank and other organizations (OECD, OSCE, Europol, Egmont Group of Fi...
- 3 min read
ECJ preliminary opinion gives Google the choice not to apply the "right to be forgotten" globally
On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is not bound to apply the "right to be forgotten" or "d...
- 4 min read
GDPR Privacy Update: Developments overview, list of recent fines, penalties and sanction cases
It did not take long after the entry into force of GDPR on 25th May 2018 for many companies that remained sceptical about the idea that Europe would impose fines from the new data protection regulation, to revise their positions and business priorities. The reality of the number of financial sancti...
Russian Counterparties Reference Guide (KYC)
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 money laundering and terrorist financing). Russia co...
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