Regulatory Compliance Journal
1 articles matching reinsurance tag
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
How can AML experts fight trade-base money laundering?
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex schemes, where legitimate business transactions serve as a smokescreen for their illicit activities. How can anti-money laundering experts stop the flow of illegal funds into the wo...
- 7 min read
European Data Protection Authorities Websites [Compiled list]
The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded and where personal information is exchanged like an untraceable currency. European Data Protection Authorities (DPAs) have launched a privacy revolution and established the ...
- 5 min read
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AML Transaction Monitoring & Detection Scenarios
AML, Transaction Monitoring, Due Diligence, Risk Management, KYC, Financial firms, Anti Money Laundering, Detection Scenarios, RegTech, Risk Based Approach, Compliance expert, Red Flags,Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivity while carefully avoiding pointless investigations by reducing the amount of false-positive alerts. The revision of AML detect...
Conduct Risk - Changing governance principles
Conduct Risk, Risk, Compliance, Financial firms, Risk Management, Transparency, EU, Europe, Ethics, Financial Institutions,Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of risk like liquidity, market, credit and operational risk. Looking at peers in the market will allow benchmarking and reflection if ...
Facebook & Diem: the sensational entry in the financial world
Cryptocurrencies, Blockchain, Facebook, Financial firms, FinTech, RegTech, Money Laundering, Digital, Anti Money Laundering, Transparency, Financial operations,By targeting approximately 1.7 billion people around the world who do not have access to a traditional bank account, the American firm Facebook aspires to rely on its 2.4 billion users to reach the forgotten and the destitute people of the convention...