Credisense’s Post

Get sanction list updates as they happen, direct to your inbox! ✅ Updates from regulatros in over 20 jurisdictions and curated sanctions new feeds ✅ Exclusive insights ✅ Rolling 7-day monitoring ✅ Direct links to original feeds 🚀 Subscribe today: https://buff.ly/3H5hYwA Plus, register for a free account to access detailed profile info and connect with over 90 sanction list providers—all at zero cost. Stay ahead in navigating global sanctions and trade restrictions. 👉 Sign up now: https://buff.ly/3H5hYwA #SanctionsCompliance #RegulatoryUpdates #Fintech #ComplianceMadeEasy #GlobalTrade

Get sanction list updates as they happen, direct to your inbox! ✅ Updates from regulatros in over 20 jurisdictions and curated sanctions new feeds ✅ Exclusive insights ✅ Rolling 7-day monitoring ✅ Direct links to original feeds 🚀 Subscribe today: https://buff.ly/3H5hYwA Plus, register for a free account to access detailed profile info and connect with over 90 sanction list providers—all at zero cost. Stay ahead in navigating global sanctions and trade restrictions. 👉 Sign up now: https://buff.ly/3H5hYwA #SanctionsCompliance #RegulatoryUpdates #Fintech #ComplianceMadeEasy #GlobalTrade

Sharing this virtual event on the "critical next steps in implementing the EU Anti-Money Laundering (AML) package with leading voices from the European Commission, Member States, and key industry perspectives", in case anyone might be interested in attending: https://lnkd.in/gGpyZa8H

Fascinating webinar for those worried about the impact of sanctions on their derivative positions.

🌍 The National Bank of Belgium (NBB) has published last week the results of an horizontal supervisory review to evaluate how well financial institutions in Belgium comply with their #sanctions screening obligations. This documents contains some interesting good practices clarifying the expectations of the NBB. Here’s a short summary: 1️⃣ Centralized Dashboards: Implement dashboards to monitor alert volumes and detect anomalies, ensuring data consistency and efficient decision-making through the presentation of these dashboards to relevant committees. 2️⃣ Regular Sanctions List Checks: Conduct periodic checks to reconcile external and internal sanctions lists with official UN, EU, and Belgian lists, ensuring no discrepancies. Even if the lists are sourced externally, checks must be provided for to ensure that they are correctly and immediately incorporated into the systems. 3️⃣ Automated Data Quality Checks: Use automated systems to verify customer and transaction data accuracy, ensuring fields are complete and free of errors. 4️⃣ System Functionality Monitoring: Regularly test and update your screening systems to detect potential malfunctions and ensure they’re aligned with regulatory requirements. 💡 Recommendations from the NBB: 🔹 Audit Screening Systems: Perform periodic internal and external audits of your screening tools to identify weaknesses and improve reliability. 🔹 Follow-up on performance, trends and backlogs: Provide statistics on the number of alerts generated daily by the systems, enriched by an analysis of those figures. 🔹 Strengthen Control Plans: Include tests to ensure sanctions lists are complete, systems are functioning properly, and data is accurately prepared for screening. 👉 Full report detail:

In August 2024, the Cyprus Securities and Exchange Commission (CySEC) introduced Directive 282/2024, a critical amendment to the country’s existing Anti-Money Laundering (AML) framework. This directive aims to bolster measures against money laundering and terrorist financing by aligning Cyprus’ regulatory standards with international practices. These changes are set to significantly impact financial institutions, obliged entities, and their internal processes.

Monaco's addition to the FATF 'Gray List' highlights the need for strict compliance with AML and CFT standards. For firms in Monaco this will mean increased scrutiny and costs as they try to bolster their regulatory practices to meet international expectations. #bovilnewgate #compliance

The EU has approved the creation of the Anti-Money Laundering Authority (AMLA), set to start in mid-2025. AMLA will coordinate national efforts, ensuring consistent AML/CFT rule application across the EU, and will reach full capacity by 2027. #EU #FinancialCrime #AMLA #Compliance #Finance #Regulation #MoneyLaundering #CFT

Stay ahead of the curve with key updates to the FCA's Financial Crime Guide! Our latest insights offers a comprehensive analysis of proposed changes in critical areas such as Sanctions, Proliferation Financing (PF), Transaction Monitoring, Cryptoassets, and Consumer Duty. These updates are essential for all FCA-supervised firms and entities under Money Laundering regulations seeking to strengthen their financial crime defenses. Ready to dive deeper? Reach out to our team of experts, Christine Reisman Bernadine Reese Melissa Ferri, and Carol Beaumier, on how these changes can affect you and learn proactive measures to safeguard your operations. #FinancialCrime #FCAUpdates #FCAGuide

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