Regulatory Compliance Journal
It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions an...
- 6 min read
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s st...
- 10 min read
On 24 September 2019 the European Court of Justice (ECJ) released a preliminary decision according to which Google is no...
- 4 min read
4 articles matching personal data tag
How is real estate used for money laundering?
In February of 2022, Transparency International revealed that Russians linked to the Kremlin or with corruption charges had invested £1.5 billion in the UK property market, mostly through companies held in Britain’s overseas territories and crown dependencies. The findings exposed Great Br...
- 10 min read
GDPR: inspiring data protection worldwide
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s strongest collection of data protection rules. As our online presence increases through social media, digital banking, and other means, nations around the globe have come to re...
- 10 min read
Dawn of disruption: predicting AML in the next decade
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robotics, science, and finance. As banks are slowly adapting to high-tech innovations, the world of compliance and AML will face unprecedented changes and challenges in the near ...
- 12 min read
How to write the perfect SAR?
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information available to law enforcement agencies in the fight against financial crime. Yet, the FinCEN Files scandal of 2020 has shown that major banks have consistently failed to write and s...
- 11 min read
Why do most AML programs fail?
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches have hit an all-time high. In 2020, financial institutions were fined a grand total of $15.13 billion (€12.79 billion) worldwide, a 51.3% increase compared to 2019, with U...
- 10 min read
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What are Hawala transactions and how do they work?
European Commission, Hawala, Money Laundering, AML, Know your Customer, Due Diligence, Transaction Monitoring, Financial operations, Red Flags, KYC,In February 2019, another criminal group was arrested in Europe, for laundering money through hawala transactions. Based on the Europol press release, the cooperation between French and Italian police led to the arrest of 19 suspects. Algerian author...
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...
How do criminals launder their money using video games?
Compliance, Know your Customer, Money Laundering, Anti Money Laundering, AML, Cryptocurrencies, Blockchain, Darkweb, Prepaid Cards,In the past decade, the video game industry has managed to dwarf the film, music, and television sectors. It’s estimated that there are currently 2.5 billion active gamers across the globe who have roughly spent $152.1 billion on games in 2019 al...