March 2024

Global trade has matured. Complex contracts facilitate the cross border flow of goods and services – and more than we’d wish, criminal activity too. As financial transactions become more sophisticated, so do the opportunities for criminals to exploit them for money laundering, terrorist financing, and other illicit purposes. The response from regulatory bodies has historically […]

The European Union (EU) has a habit of regulating in ways which extend beyond its own borders. This is not just a testament to its commercial and trading reach, but also to the thoroughness of its regulatory frameworks. The EU’s General Data Protection Regulations (GDPR), for example, have reshaped how data is managed worldwide, influencing

The world of financial services is a classic example of an environment where we seek clarity and simplicity, but seem plagued by ever more complex systems and regulation. That this is at least in part due to criminal activity comes as no surprise. Thus, many institutions are caught between the need for compliance and the

The financial services sector is no stranger to regulation. And when it comes to compliance, eyes sometimes roll at the steadily growing burden. This is especially true around anti-money laundering (AML) measures, which have become a significant concern for banks and credit unions worldwide. With this picture in the background, a recent article by Elisabeth

Digital services spread rapidly once their potential is understood. Witness the swift adoption of mobile phones in regions where traditional infrastructures were absent. This digital leap has transformed many sectors, including financial services, and particularly in the realm of remittances. Remittance services, crucial for millions of migrant workers worldwide, facilitate the easy, cheap and quick

Negotiating financial regulations can feel like walking a tightrope. For financial service businesses, including banks and credit unions, effective compliance requires an understanding of regulations in minute detail and a sound grasp of the importance of the rationale behind them. Importantly, truly effective compliance isn’t just about ticking boxes. But amidst the regulations and details,

Have you ever woken in the night fretting, wondering if there’s a gap in your compliance? Even if you’re not a compliance officer, this critical element in the financial sector can be daunting. The aim – reducing the risk and incidence of financial crime – is essential, but it’s easy to accidentally fall foul of