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 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.
There are specific rules in place to regulate and supervise credit institutions and payment service providers across Europe. Banks and other license holders are required to cooperate with their national supervisors, who coordinate their work through the network of national financial supervisors. The biggest European...
An elephant is poached every 30 minutes.1 An African rhino dies for its horn every eight hours.2 One in every five fish is caught illegally.3 In some African and South American countries, 50% to 90% of the wood harvested is illegally traded.4 These are illegal...
La crise du COVID-19 a déclenché une hausse sans précédent dans la production et la distribution de matériels d’abus sexuels d’enfants et d’exploitation sexuelle d’enfants, la retransmission en direct d’abus sexuels sur enfants et en particulier des contenus/matériels sexuels autoproduits. Aux commencements de la crise,...
The ninth annual Anti-Money Laundering and Counter-Terrorist Financing Supervision Report 2019-201 issued by HM Treasury in the UK highlights notable changes in supervisory activity and fines that supervisors have issued. Civil penalties continue to rise year on year as the Financial Conduct Authority (FCA) exercises...
Most of the ground to be covered by the proposed EU AML Authority is familiar territory. Anti-money laundering (AML) practices are well established. But in the burgeoning world of cryptocurrency trading, the challenge of identifying true asset owners is altogether different, as the UK regulator...
When walking along the Seine in Paris, one can see drawings on a wall depicting unusual icons. What appear to be children’s drawings at first are actually images representing the 17 Sustainable Development Goals agreed upon by UN member states in 2015. These ambitious and...
In the aftermath of Brexit and with a third wave of COVID-19 sweeping through Europe at the time of publication, the anti-financial crime (AFC) community continues to face increased pressure to become more effective and respond swiftly to emerging threats, and the expectations of...
According to the site Malaphor, quandrum is a word combining ‘quandary’ (dilemma) and ‘conundrum’ (a puzzle).1 When finding a workable solution between customer due diligence (CDD) requirements, the General Data Protection Regulation (GDPR) and the Protection of Personal Information Act (POPIA), compliance becomes a puzzle...
Artificial intelligence (AI) has enhanced financial services, improved regulatory compliance and more. However, AI poses an equally dangerous threat to ethical governance, data protection and cybersecurity, as well as fundamental human rights. There are over 70 proposed definitions for AI, one of which describes it...
Cet article couvre les travaux de quatre étudiantes de la promotion 2019-2020 du diplôme universitaire de charger de conformité LAB. Un grand merci pour ce travail de qualité ! Le diplôme universitaire du chargé de conformité, spécialité lutte-anti-blanchiment (LAB), proposé par l’Université Paris-Saclay1 en collaboration...