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![](https://www.i-spiral.com/wp-content/uploads/28.02.2023-Mitigating-risks-in-the-payments-industry-1024x1024.png)
Mitigating the Risks in the Payments Industry
Risks in the Payment Industry The payment industry is facing various types of risks, including: Card skimming: This is a type of fraud where
![](https://www.i-spiral.com/wp-content/uploads/25.03.2023-Outcomes-from-the-Financial-Action-Task-Force-FATF-plenary-meeting-1024x1024.png)
Outcomes from the Financial Action Task Force (FATF) plenary meeting
Here are the key outcomes from the Financial Action Task Force (FATF) plenary meeting held from February 22-24, 2023: 👉 The FATF has suspended the
![The risk-based approach in CDD](https://www.i-spiral.com/wp-content/uploads/23.03.2023-The-risk-based-approach-in-CDD-1024x1024.png)
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](https://www.i-spiral.com/wp-content/uploads/20.02.2023-KYC-Penalties-in-2022-1024x1024.png)
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.
![](https://www.i-spiral.com/wp-content/uploads/IMG_7589-e1676558849940-768x1024.jpg)
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](https://www.i-spiral.com/wp-content/uploads/15.02.2023-Financial-crime-trends-in-2023-1024x1024.png)
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](https://www.i-spiral.com/wp-content/uploads/13.02.2023-Third-party-tools-driving-new-efficiencies-1024x1024.png)
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
![](https://www.i-spiral.com/wp-content/uploads/08.02.2023-MiCA-A-new-framework-for-crypto-providers-1024x1024.png)
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
![](https://www.i-spiral.com/wp-content/uploads/06.02.23-Source-of-funds-and-source-of-wealth--1024x1024.png)
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