Regulatory Compliance Journal
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information availa...
- 11 min read
Small, frequent transactions may seem harmless, but in the world of AML (Anti-Money Laundering), they are a major tool f...
- 3 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
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivit...
- 19 min read
In February 2019, another criminal group was arrested in Europe for laundering money through hawala transactions. Based ...
- 7 min read
With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-com...
- 10 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
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches ha...
- 10 min read
From charities to cryptocurrencies, terrorist networks are competing to find innovative ways to finance their activities...
- 7 min read
9 articles matching transaction monitoring 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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How important are audit trails for your company?
Financial firms, Audit, Ethics, Governance, Conduct Risk, RegTech, Transparency, Financial Institutions, AML, MiFID2, KYC,An audit trail (also called audit log) is a relevant chronological recording of actions, a set of files, or the destination of a collection of records that represent a sequence of successive activities or events within an operational environment, a p...
How to build an effective anti-bribery & corruption program
Audit, Audit Findings, Compliance, Compliance culture, Conflict of interest, Corruption, Financial Institutions, Monitoring, Reporting, Whistleblowing,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 cre...
How to detect dual-use items?
Anti Money Laundering, Compliance, EU, Europe, Know your Customer, KYC, Risk, Transparency,When Microsoft unveiled the HoloLens 2 in early 2019, it was pitched as a cutting-edge tool for consumers and businesses to experience augmented reality like never before. But the same technology was being adapted for military use under a $479 millio...