Regulatory Compliance Journal
How is BMR changing the landscape of benchmarks?
The recent creation of Benchmark Regulation has been the catalyst for a major transition from the old regime of benchmarks towards new and alternative reference rates set to transform the world of finance. In the past years, a global benchmark reform process has been creating a shift from the ...
- 9 min read
How do criminals launder their money using the Dark Web?
Drug trade and illegal markets on the dark web have grown exponentially. Criminals are finding new and original ways to launder money generated from their illicit activities. The dark web is an encrypted part of the internet that hosts online content not indexed by conventional search engines....
- 9 min read
How important are audit trails for your company?
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 procedure or any other process. This step b...
- 3 min read
AML Transaction Monitoring & Detection Scenarios
Efficiently fine-tuning AML Transaction Monitoring can help financial firm's compliance teams to increase productivity while carefully avoiding pointless investigations by reducing the amount of false-positive alerts. The revision of AML detection scenarios is not a straightforward proces...
- 19 min read
The UBO Register in practice | Belgium
Is the UBO Register useful during KYC processes?It was a tedious job to complete the UBO Register for companies. There were a number of start-up problems that made it difficult to transmit all the data on time. We were finally able to do so, but the deadline was extended to September 30, 20...
- 8 min read
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How to detect COVID-19 financial crimes?
Know your Customer, Money Laundering, Darkweb, Transaction Monitoring, AML, Transparency, Risk Based Approach, Compliance, Tax Havens, Anti Money Laundering, Compliance expert, FATF, Detection Scenarios,While the world is on hold, financial crime has not taken a step back amidst the coronavirus emergency. Scammers, money launderers, and fraudsters have begun to exploit the weaknesses in the economy and in the fearful and worried population. As the...
How is e-commerce used for money laundering?
5AMLD, Anti Money Laundering, Compliance, Money Laundering, European Commission, Digital, KYC, Red Flags, Transaction Monitoring,With the convenience of online shopping and the ability to purchase goods and services from anywhere in the world, e-commerce has revolutionized the way we do business. The COVID-19 pandemic has only accelerated this trend, forcing many businesses to...
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How to detect serious fiscal fraud?
Fraud, UBO Register, 6AMLD, AMLA, Anti Money Laundering, Caroussel, Fiscal fraud, Transparency,Serious fiscal fraud is not just a legal risk, it’s a direct threat to an organization’s reputation. The stakes are rising as European and national authorities ramp up enforcement under evolving frameworks like the Directive on Administ...