The Europe Express column features anti-financial crime-related content with a regional focus in Europe from subject-matter experts. If you would like to contribute to this column or have any topics you would like to suggest, please email editor@acams.org.
Our award-winning regular contributor is Stefano Siggia, CAMS, senior consultant at the Brussels-based regulatory and compliance consultancy firm Pideeco. Siggia was born in Italy but grew up in Bangladesh, China, Germany and Belgium, where he currently resides. After earning his bachelor’s degree in international affairs from Vesalius College and a master’s degree in international relations from the Brussels School of International Studies
(University of Kent), he worked at Banca Monte Paschi Belgio.
Companies involved in transnational business are concerned about sanctions primarily because of the U.S. Office of Foreign Assets Control (OFAC), which is highly active in terms of enforcement and imposes large penalties on sanctions violators. Conversely, while the European Union (EU) has also been active...
The Democratic Republic of Congo (DRC) is one of the least attractive African mining jurisdictions for foreign investors. As some know, there are numerous business prospects in the Congolese mining industry. The mining industry is the strategic focus of public policy and projections for national...
There is not a more fitting metaphor than Pandoras Jar1 in describing the entry of artificial intelligence (AI) into our society. Pandoraâs âboxâ is a historical mistranslation;2 an inaccuracy. It was described as Panadoras Jar. The application of AI and machine learning in financial crime...
When Lisa Paus, a financial expert in Germanyâs Green Party, tried to identify the owners of the Kundamm-Karee âFĂŒrstâ project, she hit a wall. The approximately 635,071-square-foot urban area that would house office spaces, retail stores and art galleries at KurfĂŒrstendamm, one of Berlinâs most...
Editorâs note: This article is the second part of a two-part series on the emotional effects of fraud and how financial institutions (FIs) can respond to address the issue. The first part, âThe Emotional Consequences of Fraud,â is available on the Europe Express column. Understanding...
The Italian criminal underworld is infamous for its Sicilian mobsters and Calabrian drug traffickers, but little is known of the âFourth Mafia,â or the Sacra Corona Unita (SCU).1 Sprung from the depths of Apuliaâs prison system, it makes up one of the major mafia groups...
Qatargate refers to European Parliament officials, lobbyists and their families who were allegedly involved in corruption, money laundering and organised crime, influenced by the governments of Qatar, Morocco and Mauritania. In December 2022, there were several arrests and searches affecting former and current members of...
Sanctions can be effective if they are proportional to the strength of their enforcement and the unity of global efforts. EU sanctions against Russia, its oil and natural gas industry, are not an exception to this rule. Whilst many suggest that sanctions have worked as...
Editorâs note: This article is the first part of a two-part series on the emotional consequences of fraud and how financial institutions (FIs) can respond to address the issue. The second part âResponding to the emotional impact of fraudâ can also be found in the...
Our award-winning regular contributor is Stefano Siggia, CAMS, senior consultant at the Brussels-based regulatory and compliance consultancy firm Pideeco. Siggia was born in Italy but grew up in Bangladesh, China, Germany and Belgium, where he currently resides. After earning his bachelor’s degree in international affairs from Vesalius College and a master’s degree in international relations from the Brussels School of International Studies
