Regulatory Compliance Journal
In 2017, the European Council emphasized the need to address artificial intelligence (AI) trends while maintaining high ...
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- 8 min read
In today’s financial challenging environment, institutions are exposed to numerous economic abuses making it nece...
- 5 min read
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist...
- 9 min read
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 min read
For one week, from the 13th to the 18th October, representatives of 205 countries and jurisdictions, the IMF, UN, World ...
- 7 min read
Each year we are entitled to different lists about tax havens issued by governments or international organisations, but ...
- 9 min read
In 2020, the EU introduced a new regulatory framework that would be centered on measures to increase the digitalization ...
- 10 min read
Cutting ties to minimize risk might sound smart, but what happens when de-risking goes too far? In 2015, Dr. Iraj Hashi,...
- 8 min read
How to conduct KYC on Russian Counterparties ?Doing business with Russian entities in non-sanctioned sectors of the econ...
- 6 min read
Every year, the freedom of millions of innocent lives are stolen while an illicit river of money continues to flow, conc...
- 11 min read
While the world is on hold, financial crime has not taken a step back amidst the coronavirus emergency. Scammers, money...
- 13 min read
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
The European Union has launched its most ambitious anti-money laundering (AML) reform to date. The “AML Package 20...
- 9 min read
The understanding and management of risk by financial institutions, banks, and entities, has improved over the years. To...
- 10 min read
Corporate entities, with their complex networks and multifaceted operations, can become havens for criminal activity. Il...
- 10 min read
Though rare in corporate or finance environments, criminology offers valuable insights. Despite "white-collar crime&...
- 10 min read
The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and ...
- 11 min read
18 articles matching risk based approach tag
How to integrate AI into compliance without breaching GDPR & EU AI Act rules?
In an era where artificial intelligence (AI) is transforming how financial institutions manage risk, detect fraud, monitor compliance, and automate oversight, integrating AI into compliance programs offers significant potential. In practice, banks and insurers are already deploying AI in areas ...
- 9 min read
What should financial institutions prepare for under the European Payments Package: PSD3 & PSR?
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 ...
- 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 & cor...
- 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 Fun...
- 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
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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 authori...
KYC Business: tax havens, embargoes & sanctioned countries
Financial Sanctions, OECD, Financial firms, KYC, Compliance, Tax Havens, Red Flags, AML, Risk Based Approach, EU, Corruption, Know your Customer,Each year we are entitled to different lists about tax havens issued by governments or international organisations, but what is the difference between these lists? In October 2022, the European Union updated its list of non-cooperative tax jurisdi...
EU proposals: cross-border distribution of investment funds
UCITS, AIFs, Capital Markets Union, ESMA, European Commission, EU, MIFID, Investment Funds, MiFID2,A Proposal for a Directive which will amend, the Directive 2009/65/EC (UCITS IV Directive) and the Directive 2011/61/EU (AIFMD), was adopted on 12 March 2018 by the European Commission. The aim of the new Directive will be to facilitate the cross-bo...