Regulatory Compliance Journal
What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is...
- 6 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
Insurance/reinsurance companies play an important role for the European economy. Many European countries, among them Be...
- 6 min read
5 articles matching reporting tag
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
What are the impacts of Financial Data Leaks?
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international journalists in publishing the wrongdoings have ...
- 10 min read
AML: What is adverse media or negative news?
The digital era has given KYC analysts unprecedented access to a plethora of information on individuals and companies. Newspaper articles, online blogs, and social media are accessible and filterable with one click and may reveal important news on a financial institution’s customer. However, ...
- 11 min read
Financing terrorism: The billion-dollar blood antiquities art dealing
The destruction of the ancient city of Palmyra and the beheading of its Antiquities Chief, Khaled al-Asaad, in 2015 by the hands of the Islamic State of Iraq & Syria (ISIS) are still fresh in the minds of many. Beginning in 2014, the terrorist group has wrecked havoc across the Middle East and...
- 10 min read
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How to implement efficient corporate governance standards ?
Conduct Risk, Governance, Compliance expert, Compliance, Financial firms, Financial Institutions,Corporate governance standards are a framework within which operational and behavioural standards for the board, the executive management and the wider staff are set. Hierarchy in harmony. It comes largely with an accountability movement, better mana...
What are the impacts of Financial Data Leaks?
Politically Exposed Persons, 6AMLD, DPA, Transparency, Data Security, Know your Customer, European Commission, Data breach, Digital, Money Laundering, Corruption,In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international jo...
The UBO Register in practice | Belgium
UBO, UBO Register, AML, Financial Institutions, OECD, Europe, EU, Belgium,Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There were a number of start-up problems that made it difficult to transmit all the data on time. We were finally able to do so, but ...