Observations from the MAS on name screening practices in midsized and small FIs

MAS recently published a report which highlights and summarizes their findings on name screening practices of selected FIs in Singapore. The findings are not dramatic, good…


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Russia sanctions are on the front page but there is more

The war that Russia wages on Ukraine is on top of the news and as a consequence the world of compliance is focusing on the sanctions imposed on Russia. Rightly so, because that’s…


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Financial Warfare

The traditional way nations settle disputes with each other when diplomatic efforts fail is to mobilise their armies and fight it out.


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Sanctions: a matter of going up and down the escalation ladder

Economic sanctions are political instruments applied by the international community or individual countries to adjust or punish the acts of a government,


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Ruminations on RegTech and Data Quality

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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