MIFID II: What was all the fuss about?

Financial Crime Compliance

MIFID II: What was all the fuss about?

April 19, 2018

Firms should always act in their clients’ best interests. That simple maxim lies at the heart of MIFID II, now at the heart of financial institution compliance courses, which was aimed at strengthening protection for retail investors in the cross-border European investment market that its predecessor, MiFID I, had created. MiFID II has now – […]

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AML & Financial Crime

February 28, 2018

Ever since, in the G20 meetings, money laundering, financial crime and terrorism financing, began to be in the center of discussions and also one of their main concerns in today’s world, the international banking system consequently became the main focus of scrutiny given the fact that it was through it that these funds were allegedly […]

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Identifying Money Laundering Risks in Financial Institutions

October 19, 2017

Criminals and terrorists need money, but they usually acquire assets through illegal means. So their problem is to turn illegally acquired assets into clean: money laundering (ML). Often, they use either formal institutions where they may even have accomplices, as well as informal ones like hawala, smuggling and couriers. ML can work through placement in […]

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Key Financial Crime Issues Facing Businesses In 2017

October 5, 2017

Financial crime fuels terrorism, human trafficking, and corruption. The range of financial crime also varies enormously internationally. The focus is now firmly on the OECD countries. Nigeria has always been singled out for especial attention by international agencies such as the UN Office on Drugs and Crime, which reported that almost a third of Nigerians […]

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Reducing the risk of financial cybercrime within a financial institution

September 29, 2017

Cybercrime in finance has many elements, as different as their counterparts out of the internet: piracy, money laundering, phishing, tax evasion, theft of money or of identity, financial Trojans that attack online banking, old-fashioned skimming and identify theft attacks using ATMs, fraudulent interbank transactions targeting SWIFT users, for example Odinaff and Banswift, the latter in […]

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Five Year High Fraud – The Statistics

September 20, 2017

A depressing statistic: the total value of corporate fraud is at a five-year high. BDO FraudTrack reports that reported UK financial fraud alone increased 31.5% to £2bn in 2016, doubling in a decade. They also suggest that the real number could be much greater, with many private settlements to avoid reputational damage.  A need for […]

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Due Diligence in Banking

July 11, 2017

Following the announcement that four senior bankers at Barclays will be charged with fraud relating to the raising of funds to help the bank throughout the financial crisis in 2007. Regardless of the guilt or innocence of those charged, the media and public have large will naturally question the banking industry, its transparency and the […]

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Financial Crime Compliance in the Supply Chain

June 23, 2017

Financial crime compliance has been a huge issue across not only the banking world, but the nation with the recent hacking of the NHS. This identifies a need for banking and corporate finance professionals to understand the complexities of being compliant within their supply chain, as well as their own operations. Since the evolution of […]

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