Regulatory Compliance Journal
Which Financial Abuses are associated with Prepaid Cards ?
Lately the 5th Anti-Money Laundering EU Directive (AMLD5) retained a particular interest on innovative instruments of payment, among which Prepaid Cards and digital currencies. In 2013 the Financial Action Task Force (FATF) had raised a non-binding public guidance for a risk based approach on ...
- 6 min read
6th AML Directive (AMLD6) : The European Harmonization
On November 12, 2018, the European Parliament issued new rules to strengthen the fight against money laundering through the 6th EU Money Laundering Directive (2018/1673). Member States have until 3 December 2020 to transpose the Sixth AML Directive and bring into force the laws, regulations an...
- 3 min read
Protection of Whistleblowers : What is the EU framework?
On March 12 2019, the European Parliament and European Union Member States made a provisional agreement on how to protect whistleblowers. This new agreement guarantees a higher level of protection for whistleblowers than the level given in the original proposal of 23 April 2018. This agreement...
- 9 min read
The Banking Industry & Regulatory Compliance Requirements
Compliance risk is one of the biggest concerns of the banking industry. Failing to comply can have an impact on the reputation of the brand and create a decrease in its customer population. Lack of due diligence in transactions and clients monitoring can drag the bank to costly and time-consumi...
- 6 min read
Apply a Top-down approach for Regulatory Compliance Ops
A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance Officer to build a strong Governance. This principle is also known as “tone at the top” in ethical and responsible business behaviour. From the highest management level t...
- 3 min read
Looking for Regulatory Watch Newsletter?
More work
What is good corporate governance?
Conduct Risk, Governance, Compliance expert, Compliance, Financial firms, Financial Institutions, Consultant,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...
GDPR Privacy Update: Fines, penalties and recent sanctions
GDPR, Data Security, Data breach, Financial Sanctions, Compliance, Financial firms, Privacy, Personal Data, European Commission, EU,It did not take long after the entry into force of GDPR on 25th May 2018 for many companies to revise their positions and business priorities following their initial scepticism towards the penalties that were to be imposed by the new regulation. The...
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...