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The risk-based approach in CDD
Regulated entities use the risk-based approach to identify and assess the potential money laundering and terrorist financing risks associated with a financial transaction or customer

KYC Penalties in 2022: Lessons learned from previous failures
Sanctioned Individuals, fraudsters, and terrorists regularly attempt to take advantage of entities with weak KYC measures to freely transact and launder potentially illegally derived funds.

Tsiknopempti Celebrations at iSPIRAL
Tsiknopempti is part of the traditional Cypriot and Greek celebrations and it is the kickstart of the Carnival season. It is translated to “Smokey or

Financial crime trends in 2023
Financial crime is a constantly evolving threat affecting individuals, businesses, and governments worldwide. Each year, new trends emerge as criminals seek new ways to exploit

Third party tools driving new efficiencies
Anti-Money Laundering (AML) compliance is a crucial aspect of financial regulation. It aims to prevent money laundering and terrorist financing (ML/TF) by identifying, monitoring, and

MiCA – A new framework for crypto providers
The Market in Crypto Assets (MiCA) is a regulation that all EU member states must implement. The regulation will serve as a framework of rules

Source of funds and source of wealth – an important element of EDD
In high-risk situations, financial institutions and other “obliged entities” are required to conduct Enhanced Due Diligence (EDD) measures to ensure that the money laundering and

The Transparency International Corruption Perceptions Index (CPI) 2022
🔎The Transparency International Corruption Perceptions Index (CPI) 2022 🔍 The Corruption Perception Index highlights the “perceived levels of public corruption”. The CPI ranks 180 countries

Stablecoins and MiCA
Stablecoins are cryptocurrencies whose value is tied (“pegged”) to another asset. This asset can be a fiat currency, a commodity, another cryptocurrency, or a financial