Regulatory Compliance Journal
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
When Microsoft unveiled the HoloLens 2 in early 2019, it was pitched as a cutting-edge tool for consumers and businesses...
- 9 min read
Beneath the seemingly ordinary surface of global commerce, criminals have created an underground world of complex scheme...
- 7 min read
From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities...
- 7 min read
Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of ris...
- 2 min read
In the world of finance, gatekeepers such as accountants, and lawyers are meant to safeguard against financial crime. Ye...
- 9 min read
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robo...
- 12 min read
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January...
- 6 min read
Compliance with the Digital Operational Resilience Act (DORA) represents a real challenge for small businesses in the fi...
- 8 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it necessary...
- 5 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
The popularity of cryptocurrencies has risen significantly in recent years, with more individuals and businesses using t...
- 11 min read
The European Union has launched its most ambitious anti-money laundering (AML) reform to date. The “AML Package 2024...
- 9 min read
Insurance/reinsurance companies play an important role for the European economy. Many European countries, among them Be...
- 8 min read
16 articles matching risk 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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Decoding DORA: Navigating Operational Resilience in Financial Services
DORA, Financial Institutions, MiFID2, Reporting, Risk Management, Compliance, Europe, Risk Based Approach, Operational Resilience, Financial operations,In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization of the financial sector. It later would be called the Digital Operational Resilience Act (DORA), and is a part of the Digital Fina...
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...
The KYC Guide for Russian Professional Counterparties
Compliance, Financial firms, KYC, AML, Risk Based Approach, Russia, Financial Institutions, Financial operations, Europe,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 mon...