Regulatory Compliance Journal
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
2 articles matching rba 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 ...
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- 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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How are ESG-related assets used for greenwashing?
Audit Findings, Compliance, Europe, Environmental, Green Crime, MiFID2, OECD, UCITS, Transparency, Reporting, Financial firms, MIFID,With the rise of environmentally and socially conscious consumers, companies are under more pressure than ever to prove their commitment to sustainability and ethical practices. In recent years, environmental, social, and corporate governance (ESG) h...
How to build an effective KYC program
AML, Audit, Compliance expert, Compliance, Due Diligence, Know your Customer, KYC, Politically Exposed Persons,In an era where technology evolves at a rapid pace, criminals are quick to adapt, developing increasingly sophisticated methods to exploit vulnerabilities within financial systems and testing the boundaries of traditional KYC practices. How can compl...
How do terrorists finance their activities?
GAFI, Money Laundering, Risk, Terrorism Financing, Transaction Monitoring, Reporting, Anti Money Laundering, Cryptocurrencies, FATF,From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities, like the case of Tarek ben Habib ben Al-Toumi Al-Maaroufi, a Belgian national, who was sentenced to six years of prison for asso...