Regulatory Compliance Journal
What are Hawala transactions and how do they work?
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 authorities also seized gold for almost the equivale...
- 7 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
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
AML EWRA - How to conduct Anti-Money Laundering overall risk assessment?
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 submitted to the Anti-Money Laundering regulation. ...
- 11 min read
Inside RegTech - Regulatory Compliance Technology
🎬 Introduction to RegTech and Regulatory ComplianceThe worldwide economic repercussions of the 2008 financial crisis led regulators to strengthen their regulations and controls against the financial market operators. Today, financial institutions are facing a challenging regulatory landscape...
- 7 min read
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Intro to DLU4: Foreign accounts and Fiscal Regularisation
Reporting, Tax Havens, Belgium, Consultant, Ethics, EU, Compliance expert,What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is a Single Discharge Declaration. By introducing the DLU concept, the scope of the Belgian tax authority was to give a chance, to people w...
AML - KYC : Impacts of the 4th AML Directive (AMLD4)
Compliance, Financial firms, KYC, AML, Financial Sanctions, Politically Exposed Persons, Europe, EU, European Commission, Anti Money Laundering,What will be the impacts of implementation of the Fourth AML EU Directive (2015/849) ?Since 1991, the European Union has regularly implemented new anti-money laundering directives. On the 20th of May 2015, the European Parliament and the Council issu...
Conduct Risk - Changing governance principles
Conduct Risk, Risk, Compliance, Financial firms, Risk Management, Transparency, EU, Europe, Ethics, Financial Institutions,Conduct Risk has been the hot topic during the past few years and its scope falls outside the traditional domains of risk like liquidity, market, credit and operational risk. Looking at peers in the market will allow benchmarking and reflection if ...