Ruminations on RegTech and DataQuality

First there is the issue of data quality or better of poor data quality. The more automation a financial institution wants to implement and the more artificial intelligence a bank…


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Why good organisations sometimes do bad things

The problem with a rules- and controls-based approach to compliance is that it does not provide very effective guidance when dealing with ethical situations such as is the case…


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Understanding FEC risks when working from home

We like to take a pragmatic and hands-on approach in our work with FIs on the topic of FEC prevention. It’s important to have regulations, policies and control measures in place…


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The crucial role of a business-wide risk assessment

Even though the business-wide and customer risk assessments are different and separate processes, they are interdependent. This means you need to know how to use them and how they…


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2021 Q1 Trend Letter

Following the 2008 financial crisis regulators and the industry resolved to improve their control of the OTC derivatives markets and a raft of regulations ensued.


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The AML system is broken

The AML system is broken. The money spent by banks exceed recovered funds many times over and the persistent lack of results continues to disappoint. Here are a couple of…


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Of course they knew

In just a year and a half, 65.7 million euros and over $1 billion passed through the accounts of just one (1) client, an average of around $2.5 million for every working day.


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EMIR, where do we go from here?

EMIR is the EU regulation to reduce the systemic risk of OTC derivatives by setting guidelines for reporting to the regulators, making clearing mandatory for a large proportion of…


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Crypto and traditional financial institutions

Last week, the French Ministry of Finance announced new (and strict) KYC regulations on cryptocurrency companies to end the still existing anonymity.


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Data Quality in KYC/AML

In order to improve an organization’s ability to produce good quality data the ECB report states that it is important to have a program on data governance.


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