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Discussion around current trends in regulations for banks globally
NatWest has recently pleaded guilty to three counts of failing to comply with anti-money laundering (AML) legislation. The bank’s CEO Alison Rose said that the bank “failed to adequately monitor and t...
The FinCEN Files revealed money laundering to be a systemic problem, but the Pandora Papers and the recent resignation by the Financial Action Taskforce (FATF) chief, David Lewis, suggest a much more ...
Disruptive technologies in the financial sector are great with both lots of enthusiasm and lots of concern. While blockchain, decentralized payment systems, and lending apps make lives of many people ...
In February 2021, I asked the Swedish company registry (#Bolagsverket) about some statistics regarding beneficial ownership, this is the response: Approx.: - 70.000 companies have registered that th...
Traditional banks, insurers, and financial service providers in Hong Kong are jumping on board with fintech adoption, with a Hong Kong Monetary Authority (HKMA) study showing 86 per cent of incumbent...
‘To CoP, or not to CoP, that is the question Whether 'tis nobler in the mind to suffer The slings and arrows of outrageous scams, Or to take arms against a sea of fraudsters And by opposing end them d...
The Fintech industry is driving a rapid transformation that even regulators are struggling to keep up with. In 2020, over 20,000 new Fintech start-ups launched globally, with this number only set to r...
Open banking comes with a lot of expectations and promises, such as democratisation of Access to Account (X2A), increased competition between banks and fintechs, and provision of better control to end...
Already in effect in EU member states since 3 December 2020, financial institutions must implement the Sixth Anti-Money Laundering Directive (6AMLD) by 3 June 2021. While it requires less changes than...
As financial institutions move to integrate, automate and streamline their systems (all in the face of a toughening regulatory environment), process flows and the underlying data points are coming und...
Over 10 years ago, one statement got international attention, another statement didn’t even get national attention. Still both statements echo’s today, although differently. The then Head of United Na...
Recent analysis conducted by LexisNexis highlighted that many financial institutions are struggling to complete their implementation plans for the Fifth Anti-Money Laundering Directive (5AMLD). Even m...