Serkan Arslan Sales and Business Development Director, CAMS at Fineksus
What does Trade-based Money Laundering (TBML) mean? Trade-based Money Laundering (TBML) is defined as the use of trade activities and transactions to transfer illicit cash of big quantities into legitimized or -in some cases- less suspicious commodities in order to avoid financial transparency regulations. There are different techniques of using T...
01 February 2021 /regulation /crime RegTech
Andrew Stevens Global banking and financial services specialist at Quadient
Last week, the Information Commissioner’s Office announced it has issued fines totalling nearly half a million pounds to four companies making nuisance calls to numbers registered with the Telephone Preference Service (TPS). It is against the law to make marketing calls to numbers that have been registered with the TPS for more than 28 days, unle...
01 February 2021 /regulation /people Customer Service 2015-2019-2025
Tim Page Global Head of Sales at Planixs
The last 12 months have seen the biggest shift for treasurers to assess their current working practices as a number of compelling factors have come together to drive change. In today’s climate, treasury professionals require greater insight and control into understanding their present and forecasted liquidity position. Many retail banks have been ...
27 January 2021 /regulation /retail Treasury Management
Garima Chaudhary Head of Fin. Crime Solution Consulting at Oracle
Drug Trafficking Is Widespread Drug trafficking is a global problem—and despite decades of research, regulations, and enforcement, it remains a $400 billion global business. Government ministries and agencies around the world continuously monitor and research illicit drug markets to gain a more comprehensive understanding of this nefarious industr...
26 January 2021 /regulation /crime Innovation in Financial Services
Retired Member
The balance between regulation and innovation is a difficult one to find and maintain. The parabolic growth of the fintech industry has heralded extraordinary advances, but it has also posed problems for regulators who are still trying to catch up. In order for fintech to thrive, there must be open, transparent, and friendly cooperation between ind...
26 January 2021 /payments /regulation
Shikko Nijland CEO at INNOPAY
I'm convinced this year will be a decisive turning point in the war against a creeping yet potentially devastating type of pollution. This is the 'data pollution' which threatens to overwhelm our digital world. Just as nations are now committing to more challenging environmental targets in the physical world, we must also recognise the threat of da...
26 January 2021 /regulation /sustainable Data sharing
Andreas Hobbelin Head of AML & FCP at ZTL PAYMENT SOLUTION
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 Nations on Drugs and Crime (UNODC), Antonio Maria Costa said the following based on that UNODC had found evidence that some banks were funded by illicit...
21 January 2021 /regulation /crime Banking Regulations
Kirston Winters MD, MarkitSERV at IHS Markit
The transitional period ended on 31 December with no relief for European Union (EU) firms on the derivatives trading obligation (DTO) from the European Commission (EC) and only limited adjustments from the United Kingdom (UK). This left many firms with conflicting and incompatible DTOs in the EU and the UK without equivalence (albeit based on iden...
21 January 2021 /regulation /wholesale MiFID
Jesse Chenard CEO at MonetaGo
Fraud is an age-old problem that has plagued every industry since businesses began trading. It takes many forms and guises and is a constantly evolving threat, as the perpetrators adapt to the ever-changing business environment they seek to disrupt. Perhaps one of the most well-known examples of fraud is money laundering. On one end of the spectr...
21 January 2021 /regulation /crime Blockchain in Banking and Financial Services
Money Laundering and Its Impact on Wildlife Every year, the illegal wildlife trade—which includes the smuggling, poaching, capture, and collection of endangered species and protected wildlife—threatens many animal species with extinction. Demand for rhino horn—which is more expensive than gold—resulted in the extinction of Africa’s western black r...
20 January 2021 /regulation /crime Financial Services Regulation
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