Will an ICA qualification get me a job? (11146)
Words by Lily Harwood-Millar
How do I land my first compliance or AML role? (8472)
Words by Phil Perchard
EBA proposed guidelines on the risk based approach and CDD risk factors (5042)
Words by Roland Guennou
Interpreting ICA Assignment Feedback (4880)
Words by Dave Robson
All change on cash? Tackling money laundering through cash transaction limits in France (3993)
Words by Mary Munford
13 April 2018
Biometric technology, contactless cards and online shopping. Is this the beginning of the end for cash?....More
Words by Jason Morris
11 April 2018
The FCA’s business plan for this year has had to strike a careful balance between the considerable amount of work that is going to be taking place on Brexit, which is already well underway, and their other strategic priorities.....More
Words by Holly Whitehead
23 March 2018
In the wake of the Criminal Finances Act 2017, what is the future of financial crime policy management? Within the realm of financial crime policy management, there is an established and traditional approach to responding to legislative evolutions. As required by regulations, the first and fundamental step is the establishment and maintenance of policies, controls and procedures to mitigate and manage risk (UK Money Laundering Regulations 2017).....More
Words by Alan Entwistle
22 March 2018
RegTech is now one of the most talked about innovations in the financial services sector. The added influx of FinTech that has caused the incumbent population of the financial services industry to sit up and take notice. Disruption is a clear and present threat to this community. The revolution is here.....More
Words by Jason Morris
21 March 2018
For the first time, we are delighted to offer our Diploma graduates the opportunity to recertify their qualification in either AML, governance risk and compliance or financial crime prevention.....More
Words by Jennifer Trenery
20 March 2018
Do you ever truly know your customer? And, if you don't does it really matter?....More
Words by Simone Jones
6 March 2018
One of the most frequently asked questions is ‘will an ICA qualification get me a job?’. This hardly comes as a surprise.....More
Words by Jennifer Trenery
23 February 2018
Over the past months, the world has witnessed a rise of an unprecedented global movement against sexual harassment and assault. It's time to rethink what constitutes a harassment-free workplace environment and revisit your anti-harassment policies, fostering a cultural shift in attitudes to this issue.....More
Words by Vera Cherepanova
13 February 2018
Unpredictability is the new normal. What does 2018 hold for our industry?....More
Words by Jake Plenderleith
6 February 2018
Should the anti-money laundering (AML) community be concerned at the prevalence of such Bitcoin services, and their open lack of regard to customer due diligence (CDD) controls?....More
Words by Kane Pepi
30 January 2018
Uncertainty in regulated sectors, as well as the proliferation of change, often leaves compliance professionals feeling that they cannot keep apace of these rapid changes.....More
Words by Jennifer Trenery
30 January 2018
As firms continue to navigate the labyrinthine minefield of legislation and regulation and claw their way up the evolutionary ladder of compliance with standards that appear to have moving goal posts, ‘tone from the top’ has never been more important.....More
Words by Dawn Fisher
22 January 2018
Bitcoin has taken the world by storm; Simone Jones shares what she has learnt about cryptocurrency over the course of the last year.....More
Words by Simone Jones
18 January 2018
Knowledge. Community. Recognition. Study for a worthwhile qualification that is trusted by employers. Register today.....More
Words by Jennifer Trenery
16 January 2018
Over the last decade, mobile financial services (MFS) have been instrumental in increasing financial inclusion in developing markets. What impact does this have on financial services and the telecommunications industry?....More
Words by Jake Plenderleith
15 January 2018
In November 2017, Transparency International (TI) published the report Hiding in Plain Sight which further highlighted the attractiveness of UK Plc to those that wish to launder the proceeds of corruption or value of other criminal origin.....More
Words by Dawn Fisher
8 January 2018
The start of a new year is usually accompanied by a renewed focus on oneself and one’s goals. The passage from one year to the next causes many to reflect, particularly on how positive change can be implemented the following year to enrich one’s life. The ‘new year, new me’ philosophy is one that lots of people find to be a useful motivator.....More
Words by Jennifer Trenery
2 January 2018
As technological innovation sweeps the financial sector, the compliance professional faces developments of huge consequence.....More
Words by David Carlisle
4 December 2017
Through the advent period, International Compliance Association will be publishing an insight on each Advent Sunday to focus on the topic of KYC – Know Your Customer. You have a copy of their passport, you have verified where they live and have checked their birthday against their driving licence (questionable photo and all), but do you really know your customer?....More
Words by Simone Jones
27 November 2017
It struck me that the compliance department has certain parallels with the Ministry of Magic from J.K. Rowling´s Harry Potter series. Both are often misunderstood, mysterious, ‘secretly’ structured but at the same time necessary and important.....More
Words by Lucie Schweizer
23 November 2017
Thanksgiving Day is upon us, and in celebration of the annual harvest, we have collated our top five blogs with US origins. Let’s take a retrospective look at our favourite blogs from the last year, with a keen focus on the United States.....More
Words by Jennifer Trenery
21 November 2017
How many of us, if we were then asked to think of terrorism and the Caribbean, would think back to the bygone era of piracy; of Calico Jack and mutiny on the seas? This era ended around the 1830s so surely terrorism is something that now happens outside of the Caribbean, doesn’t it?....More
Words by Sarah Reynolds
6 November 2017
Earlier this year the French government enacted Sapin II, an anti-bribery and corruption law that bolstered the country’s transparency and anti-corruption efforts. The legislation was introduced after criticism over the years of France’s anti-bribery and corruption efforts from several quarters (including the OECD). The introduction of Sapin II was the most significant initiative on anti-corruption in the country in decades.....More
Words by Jake Plenderleith
6 November 2017
Jerry Walters has a Distinction in the International Compliance Association Diploma Course in Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF). As well as being a member of the ICA, Jerry is a former Detective Constable and has worked on high profile cases including Operation Trilby. He is still involved in all aspects of tackling financial crime through the running of his own business. Here, Jerry discusses what ICA and compliance means to him.....More
Words by Jennifer Trenery
24 October 2017
Privacy and Switzerland are often seen as synonymous, and whilst Switzerland is no longer seen as a secrecy haven, protecting client data is still a badge of honour for the country. Data protection law in Switzerland has a level of protection like that of the EU Data Protection Directive, and in some respects, is reported to even go beyond EU Law, especially in relation to the protection of data pertaining to legal entities. But in an age of cyber-enabled crime, can Switzerland ensure that data is secure?....More
Words by Sarah Reynolds
18 October 2017
Denmark sits at the enviable position as the ‘cleanest’ country in Transparency International’s Corruption Perception Index (CPI). As previously discussed in ICA Insights, although deemed to be the cleanest, Denmark isn’t free from all financial crime woes.....More
Words by Simone Jones
12 October 2017
Avec Tracfin et certaines lois récemment instaurées, la France est un acteur européen majeur dans la lutte contre le blanchiment d’argent et le financement du terrorisme. Quels ont été les changements effectués lors de ces dernières années ?....More
Words by Justine Henry
10 October 2017
At the International Compliance Association, we regularly find ourselves deliberating money laundering issues, which can range from recent enforcement actions to newly published reports showing the latest figures for details such as suspicious activity reports or jurisdictional risk. Which is why, when I read a headline stating that the Swedish legal system was being exploited to commit money laundering, quite a discussion was sparked.....More
Words by Holly Whitehead
9 October 2017
Openness and transparency are considered as “vital parts of Swedish democracy” and all those principles of freedom are reflected in some fundamental laws which govern the Swedish constitution.....More
Words by Guillermo Iribarren
4 October 2017
In this comprehensive report, it was revealed that the biggest obstacle to investment in technology is cost. We have broken down the key findings of the report into this infographic, to help you understand the need for forward planning.....More
Words by Holly Whitehead
28 September 2017
Anonymity, discretion and confidentiality: terminology often associated with shell companies incorporated in jurisdictions with high secrecy laws. However, does the virtual economy – notably Bitcoin, the de facto currency of choice – facilitate the very same mechanisms that criminals attempt to abuse? This brief article will explore some of the key similarities between a shell company and a Bitcoin address, with a view to answering the question ‘Are Bitcoin addresses shell companies in disguise?’....More
Words by Kane Pepi
22 September 2017
New York has been capturing the imagination and the attention of the world for well over 100 years. It’s a city like no other; its intoxicating pull is felt by both residents and non-residents alike. It has also long been a source of inspiration for those looking to fight crime: in the Superhero world, Marvel’s Spiderman, The Avengers and The Defenders all call New York home. Some people believe that Metropolis and Gotham, home to Superman and Batman, are also based on New York.....More
Words by Simone Jones
15 September 2017
Since 2008, the UN has held its day in honour and promotion of democracy on 15 September. For a cluster of nations across Latin America, this is a date that holds a special reverence, marking their independence from colonial rule: Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica all celebrate their independence day on 15 September (with Mexico’s the following day, and Chile’s three days later).....More
Words by Jake Plenderleith
15 September 2017
Since 2008, the UN has held its day in honour and promotion of democracy on 15 September. For a cluster of nations across Latin America, this is a date that holds a special reverence, marking their independence from colonial rule: Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica all celebrate their independence day on 15 September (with Mexico’s the following day, and Chile’s three days later).....More
Words by Jake Plenderleith
8 September 2017
Ireland is an important regional and international financial hub and is included in the IMF’s 29 systematically important financial centres. This is evidenced in the sheer number of banks looking to move some of their operations from London to Dublin in the wake of Brexit.....More
Words by Holly Whitehead
7 September 2017
Find out more about the ICA qualifications, how they can help you progress in your career and assist you in performing to the highest standard of professional practice and conduct.....More
Words by Jennifer Trenery
4 September 2017
CEO Satya Nadella made the news last year when he revealed the secret of improved culture at Microsoft over the last few years has been down to the embracing of a learn-it-all culture.....More
Words by Sarah Reynolds
28 August 2017
Screening your entire customer base on a regular basis can alert you to the risk of being exposed to suspicious or sanctioned individuals and organisations, but how do you ensure that you are completing these searches effectively?....More
Words by Sarah Reynolds
21 August 2017
Technological innovation is ceaselessly impacting on many key sectors of our lives, and the financial industry is not immune to it. European institutions are aware that technology-enabled and technology-supported financial services (FinTech) represents a great opportunity for the financial industry.....More
Words by Nicola Vaccari
14 August 2017
A decade-long battle between the United States government and the owners of a New York skyscraper was concluded last month when a US jury agreed with the government’s assertion that the Alavi Foundation, the majority owners, were guilty of money laundering and violating sanctions on Iran.....More
Words by Jake Plenderleith
11 August 2017
As the technology to facilitate cashless transactions becomes more widespread, it can play an important role in know-your-customer and anti-money laundering efforts.....More
Words by Simone Jones and Bill Coffin
8 August 2017
It’s not just a question of following a rule book, compliance officers need to be able to strike a good balance between commerciality and compliance.....More
Words by Jennifer Trenery
28 July 2017
A professional qualification is often considered a commitment: a commitment to your career and the development of your professional capabilities. In an environment that changes continually, it’s imperative to have the right toolkit to perform your duties confidently and competently. As a result of this ever-changing environment qualifications become an essential part of your career trajectory. Finding the right course requires careful research, as it is an undertaking that is a significant commitment to your career, and you will undoubtedly want to make sure that you are assessing all of your available options.....More
Words by Jennifer Trenery
17 July 2017
Distributed ledger technology (DLT) – of which blockchain is one particular type – is a decentralised database. This means that instead of records being held by one trusted entity that is the true source of the information (which is how many databases operate at the moment in the form of a ‘centralised ledger’), a group of peers maintain a shared database. Therefore, the consensus of the group is the record: there is no single trusted source.....More
Words by Holly Whitehead
11 July 2017
Transparency International work globally in leading the fight against corruption. One of the ways in which they raise the profile of corruption is through the Corruption Perceptions Index (CPI). The 2016 CPI ranked 176 countries in terms of how corrupt they are perceived to be on a scale of 1 (highly corrupt) to 100 (very clean).....More
Words by Simone Jones
23 June 2017
South Africa is undoubtedly a success story, from its lush wine lands which produce world class wines, diamond mines producing gems sold all over the world, to the Kruger National Park, which is populated by big game and is a huge magnet for tourists. South Africa seems to have it all, so why is its leader getting it so wrong? And what effect could this have on how the country is perceived around the world?....More
Words by Jason Morris
26 May 2017
This weekend sees the annual English FA Cup Final. It’s been previously reported that this football match can attract half a billion viewers from across the world. Chelsea won the English Premier League this season. This was widely lauded as being down to a switch to a 3-5-3 formation in the early autumn. Arsenal have often utilized 4-3-3 formation. The ‘3 lines’ seems to dovetail rather nicely with the ‘3 lines of defence’ mode (3LOD), which is widely used in regulated firms to provide a systematic approach to risk management. Let’s explore that a bit further so we can draw out the similarities.....More
Words by Dave Robson
19 May 2017
Bribery and corruption is a global issue, generating increasing public outcry and requiring international coordination. The direction of travel is clear – anti-bribery and corruption (ABC) is – finally - firmly on the agenda of government agencies, non-governmental organisations, media outlets and the public.....More
Words by Rebecca Cummings
19 May 2017
Interview with Peter van Veen, Director of the Business Integrity Programme and Rachel Davies Teka, Head of Advocacy, Transparency International....More
Words by Peter Van Veen
18 May 2017
In order to achieve good understanding of, and compliance with, your anti-corruption policies, you need a process that transfers the necessary knowledge, insight and skill to those who serve your organisation.....More
Words by Dave Robson
18 May 2017
The use of sanctions as an international means of affecting change has grown exponentially in recent times. As countries become less and less keen to use military force, the world has turned to sanctions implementation as a means of impacting international change, both politically and socially.....More
Words by Saskia Rietbroek
18 May 2017
Panama, Brazil, Afghanistan, China, Malaysia, Pakistan, Ukraine, Angola, South Africa. Examples of corruption cases abound beyond the limits of European geography. A cursory look at the Transparency International Corruption Perception Index shows plenty of low-ranking jurisdictions, many situated at a substantial distance from continental Europe. Does this mean that European companies, executives, regulators and prosecutors can sit back, head early for the beaches of the Mediterranean this summer and leave their international counterparts to manage these anti-corruption risks far from Madrid, Paris, Rome and other EU capitals? Clearly, the answer is ‘no’.....More
Words by Murray Grainger
17 May 2017
Why would someone well educated and well compensated risk their own liberty to pay a bribe? Richard Bistrong covers the reasons why we say yes.......More
Words by Richard Bistrong
17 May 2017
Fifa, football's world governing body responsible for promoting and protecting the sport, has done more damage to the reputation of the game than any other organisation or individual.....More
Words by Jake Plenderleith
17 May 2017
As this is Anti-Corruption week, I thought it would be good to take a look at the top ten fines handed down to companies under the Foreign Corrupt Practices Act (FCPA).....More
Words by Holly Whitehead
17 May 2017
Asia and the rest of the world has been rocked by the 1MDB corruption scandal which has seen investigations triggered around the globe including the United States, Singapore, Switzerland, the United Kingdom, Hong Kong and Malaysia.....More
Words by Dione Schick
16 May 2017
Listen to Sally Scutt, ICA Strategic Advisor interview Annabel Reoch, UK Head Anti-Bribery and Anti-Corruption, KPMG about the importance of transparency and challenging a collusive culture.....More
Words by Sally Scutt
15 May 2017
ICT compares results from the World Economic Forum publishes annual corruption index and Transparency International's Corruption Perception Index (CPI) in this Prezi presentation.....More
Words by Jake Plenderleith
15 May 2017
There is a good chance that corruption is a subject of both personal and professional concern to you. If that is the case, it is a sentiment you share with individuals the world over.....More
Words by Penny Milner-Smyth
9 May 2017
Historically, there hasn’t been a large number of high profile enforcement actions in relation to bribery. The low numbers could be taken as a sign that regulators are not focusing on this risk or conversely that firms have improved systems and controls so much that bribery is a thing of the past.....More
Words by Richard Wegrzyn
27 March 2017
It is fascinating how apparently unconnected points can be linked to reveal compliance challenges and opportunities. How, for example, does Brexit connect us to AML regulations, FinTech and Big Data in Ireland?....More
Words by Guillermo Iribarren
6 March 2017
In January this year, the Office for National Statistics released its latest Crime Survey for England and Wales (CSEW). The CSEW is a face-to-face victimisation survey where individuals resident in England and Wales are questioned about their experiences of a selection of offences in the last 12 months. This survey - which covers October 2015 to September 2016 – includes for the first time the offences of fraud and computer misuse (also known as cybercrime). Although the CSEW is unable to compare the results for fraud and cybercrime to previous years, the figures are still pretty staggering.....More
Words by Holly Whitehead
9 February 2017
We examine the case of automotive giant Volkswagen, the most recent household name to be hit by US authorities for breaching laws and regulations.....More
Words by Jake Plenderleith
31 January 2017
We break down combined fines of nearly £18 million issued by the Financial Conduct Authority to five top offenders in 2016.....More
Words by Jake Plenderleith
27 January 2017
Transparency International’s 2016 Corruption Perceptions Index was released this week, so we've taken a look at the more notable movements in this year's report.....More
Words by Holly Whitehead
19 January 2017
A large number of global information, communication and technology (ICT) companies are based in Ireland.....More
Words by Guillermo Iribarren
10 January 2017
The Financial Action Task Force (FATF) released this month their first Mutual Evaluation of the United States since 2006.....More
Words by Jake Plenderleith
6 January 2017
Odebrecht and Braskem, two Brazilian companies, have been fined at least US$3.5 billion after pleading guilty to bribing government officials.....More
Words by Jake Plenderleith
5 December 2016
The President-elect of the United States is a man on more familiar ground on Wall Street than in Washington DC, and yet Donald Trump will surely be focusing his attention on the banks when he moves into the White House in January.....More
Words by Jake Plenderleith
28 November 2016
The Netherlands has a long history of navigating the world and trading with other countries. Trade creates wealth and is a vehicle to spread new knowledge and best practices. But trade also raises tremendous risks, especially in regions outside Western Europe and the United States.....More
Words by Guillermo Iribarren
21 November 2016
Brexit has been a huge story all year, and will continue to be so throughout 2017 as Article 50 is triggered. Living and working here in the UK, I’m constantly bombarded with opinions telling me what the potential impact of leaving the EU could have on me and my family’s future. But what about the UK overseas territories? Gibraltar, for example, which, from memory, was the first region to declare their results from the EU referendum on June 23rd - voted an overwhelming 96% for the ‘Remain’ side. What are the implications of the overall result for this unique part of the UK?....More
Words by Jason Morris
11 November 2016
Numerous reasons have been cited for Cyprus’s economic collapse, but one of the most enduring has been the charge of weak corporate governance in Cypriot banks. The demise of the now defunct Laiki Bank, previously the second biggest bank on the island, is indicative of the weak Governance, Risk and Compliance (GRC) framework that existed across Cypriot financial and governmental institutions.....More
Words by Jake Plenderleith
3 November 2016
Governance, Risk Management and Compliance (GRC) have been shown to be interconnected concepts. Applied effectively in a business, they can reduce costs, cut inefficiency and improve communication throughout an organisation; GRC can help ensure a businesses’ goals and objectives are better defined, the company structure improved and regulations properly adhered to. Indeed, strong GRC lays the foundations for potential company growth.....More
Words by Jake Plenderleith
1 November 2016
Britain’s referendum on withdrawal from the European Union sent convulsions across Europe, and the uncertainty that the decision to leave triggered across the continent is felt nowhere more keenly than in Ireland. The Irish National Risk Assessment on Money Laundering (ML) and Terrorist Financing (TF) makes this explicitly clear; Brexit makes up a third of the ML/TF risk-enhancing factors for the Irish state.....More
Words by Jake Plenderleith
26 October 2016
The insurance market is a dynamic sector offering increasingly sophisticated products to its customers and providing competition to other parts of the financial services industry. The insurance sector’s growth is particularly noticeable with some jurisdictions reporting a doubling of premiums in the last decade.....More
Words by Holly Whitehead
25 October 2016
Sweden was the first country in the world to introduce freedom of the press as a constitutional right in 1766. This long tradition included the principle of freedom of information, giving both the general public and the mass media access to public records.....More
Words by Guillermo Iribarren
13 October 2016
Do you know your customer? Do you? Really? If someone asked you to “sum up the financial crime risks posed by the relationship”, would you be able to do it?....More
Words by Dave Robson
4 October 2016
A round-up of our insight about money laundering, terrorist financing and beneficial ownership in Switzerland.....More
Words by Lily Harwood-Millar
21 September 2016
We don’t know who originally had the idea for committing financial crime, although what is said to be the first recorded incident of fraud – involving a Greek merchant called Hegestratos, an upfront payment for transporting a cargo of corn and a failed plan to scuttle the ship carrying it – dates back to around 300 BC.....More
Words by Mary Munford
1 September 2016
We don’t know who originally had the idea for committing financial crime, although what is said to be the first recorded incident of fraud – involving a Greek merchant called Hegestratos, an upfront payment for transporting a cargo of corn and a failed plan to scuttle the ship carrying it – dates back to around 300 BC.....More
Words by Mary Munford
25 August 2016
German companies have developed a complex supply chain integrated by thousands of third parties, subsidiaries and agents worldwide. As the strategic importance – and Compliance risks - of third parties increases, companies have to mitigate business risks while building trust in their partners.....More
Words by Guillermo Iribarren
25 August 2016
German companies have developed a complex supply chain integrated by thousands of third parties, subsidiaries and agents worldwide . As the strategic importance – and Compliance risks - of third parties increases, companies have to mitigate business risks while building trust in their partners.....More
Words by Guillermo Iribarren
23 August 2016
The Monetary Authority of Singapore launched a dedicated anti money laundering (AML) department on 1 August, and this triggered my interest in reading more about AML-related developments in Asia Pacific. I came across an article from May this year which talked about how regulators in Hong Kong, for example the Hong Kong Monetary Authority (HKMA), are cracking down on trade based money laundering (TBML).....More
Words by Holly Whitehead
8 August 2016
Corruption can be defined as ‘Dishonest or fraudulent conduct by those in power’ and usually falls into three main categories: grand corruption, petty corruption and political corruption, which the anti-corruption campaign organisation Transparency International defines more specifically.....More
Words by Holly Whitehead
2 August 2016
Still wondering whether to come to the ICA Open Day (or one of the local sessions)? Then have a look at our infographic for a few compelling reasons to register your place this year.......More
Words by Lily Harwood-Millar
28 July 2016
A high percentage of Switzerland's surface is covered by the Alps. The melting of glaciers, located at the top of the mountains, generates flows of clean – and essential - water for a wide range of ecosystems downstream. This natural geological phenomenon helps us to illustrate the importance of the commitment from the Board of Directors and Senior Management to implement compliance across all hierarchical levels in Swiss companies.....More
Words by Guillermo Iribarren
26 July 2016
The UK’s Financial Conduct Authority (FCA) has published a small library of reports this month, including its Anti-money laundering annual report 2015/16, which provides some interesting insights into its work, and some themes emerging from this, over the last year.....More
Words by Mary Munford
21 July 2016
Here in the UK, after weeks of blanket media coverage around Brexit, a change of Prime Minister and the legal complexities involved in the Labour leadership election, we could be forgiven for wanting a change of subject matter. So the Financial Conduct Authority’s (FCA) Annual Report for 2015/16 could provide a welcome respite for financial services professionals, though it’s not exactly what you might call light reading.....More
Words by Mary Munford
18 July 2016
Bright ideas are the lifeblood of any business or organisation. The same applies to money launderers, who always seem to be coming up with new techniques of their own, or abusing entirely legitimate systems and technologies, in order to stay a step ahead of law enforcement and other authorities.....More
Words by Mary Munford
12 July 2016
Corruption can be defined as ‘Dishonest or fraudulent conduct by those in power’ and usually falls into three main categories: grand corruption, petty corruption and political corruption, which the anti-corruption campaign organisation Transparency International defines more specifically.....More
Words by Mary Munford
6 July 2016
Here in the UK, there’s not much on our news agenda apart from the EU referendum outcome and the resulting fall-out, so significant developments elsewhere in the world since 23 June have perhaps been slipping under our radar.....More
Words by Mary Munford
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