Regulatory Compliance Journal
The silent payments revolution is finally upon us. With the first compliance date of Regulation 2024/886 set for January...
- 6 min read
In the contemporary political and economic landscape, relations between Russia and the European Union (EU) are a theater...
- 10 min read
2 articles matching sanctions 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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The effectiveness of financial sanctions and embargos
Compliance, Europe, Financial Sanctions, Red Flags, Politically Exposed Persons, Russia, Transaction,Financial sanctions and embargos have long been used by governments and international organizations as a means of applying economic pressure on rogue states in order to achieve political objectives. These measures aim to restrict or cut off the flow ...
How can AML experts fight trade-base money laundering?
AML, Compliance, Red Flags, Terrorism Financing, Risk, Financial Sanctions, 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 exper...
AML EWRA - How to conduct Anti-Money Laundering overall risk assessment?
Risk, Due Diligence, AML, Risk Management, Risk Based Approach, Audit, Financial firms, KYC, Compliance, 5AMLD, Audit Findings, FSMA, EU, EWRA,The Enterprise-Wide Risk Assessment (EWRA) or Overall Risk Assessment has become a regulatory obligation from an EU and Belgian perspective for all credit institutions, stockbroking firms, licensed insurance companies and banking industries submitte...