Ecosystem approach to AML Compliance leads RegTech innovation, effectiveness

‘Robotics’ and ‘AI’ are the new “shiny” in RegTech for AML Compliance and Risk Management.

Those high-tech buzzwords are in vogue as firms try to elbow their way into AML relevance. But at AML Partners, the AML Compliance future is now—and it doesn’t need the future promise of robotics or AI. It just needs visionary design and software ingenuity—the design and ingenuity in SURETY Eco, the AML Ecosystem.

Read More (LinkedIn - David Howland) 

Gibraltar’s New Pension Regime

The next few days will see the introduction of a licensing and regulatory regime for personal pension providers in Gibraltar. An effective supervisory regime in this area had been the aim of Albert Isola, the Financial Services Minister, since his appointment to office, and this has now come to fruition.

Read More (LinkedIn - Marcus Killick OBE) 

Swissquote sees stronger UK bargaining position after Trump win

The UK’s bargaining position could be strengthened versus the remaining EU27 over the terms of its Brexit following the unexpected win by Donald Trump in the US presidential elections, analysts at Swissquote Bank have said.

Peter Rosenstreich, head of market strategy, said that the Trump victory would give those in favour of Brexit an “ace up their sleeve” in light of the relatively deadlocked negotiations as they have been thus far.

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The Fourth European Union Anti-Money Laundering Directive and Its Effects on Financial Institutions Operating in the EU

The Fourth European Union Anti-Money Laundering Directive (Fourth AML Directive), approved by the European Parliament on May 20, 2015, went into effect on June 25, 2015, repealing the 2005 Third AML Directive. Given the evolving nature of the money laundering and terrorist financing typologies, as well as the decade-old Third AML Directive in place, the Fourth AML Directive was not an unexpected development. In fact, the European Council approved the Fourth AML Directive as far back as February 2015. However, what does this mean for financial institutions with global operations or those seeking to enter the European markets in the near future?

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Terrorism and Counterterrorism: Comparing Theory and Practice

Terrorism has arguably been one of the defining factors of our age. It frequently makes headlines, threatening or attacking governments, private business and ordinary citizens. And in many parts of the world, it has been one of the most important threats to peace, security and stability. But what does this exactly mean? What is the nature of this threat? Who or what is threatened, how, by whom and why? What can be done about it or how can we at least limit the impact of terrorism and make sure that terrorists do not make headlines and manage to scare us?

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Gibraltar: EU Investigation into Tax Rulings

The European Commission has decided to extend the formal investigation procedure under state aid rules into the practice of granting tax rulings under the Income Tax Act 2010.

The decision forms parts of the European Commission’s wide ranging investigation into the practice of tax rulings in every EU Member State. Indeed, the Commission has looked at more than 1,000 tax rulings throughout the EU.

Gibraltar Government's Response:

Regulatory Radar

Business is like sport - winning means keeping an overview and not losing sight of the overall objective. This is especially true of people working in the financial markets. Recent years have seen an explosion in the number and scope of financial market regulations - not just in Switzerland, but in the EU and the rest of the world too. What was once a comfortable giant slalom event for weekend sportsmen is now a flat-out race for elite athletes.

Read more here (PWC)

Financial fraud: One scam 'every 15 seconds'

A campaign is launched to raise awareness after one million incidents were recorded during the first six months of the year.

A sharp rise in financial fraud has been reported, with more than one million incidents where people lost money recorded between January and June. Financial Fraud UK (FF UK), which compiled the figures, said it represented a 53% increase on the first six months of 2015 and equated to one scam every 15 seconds. The incidents were a result of either payment card, cheque, online banking or telephone banking fraud.

Read More - Click Here (Sky News)

Member Benefits

✔ Latest compliance laws and regulations updates
✔ Certification and training
✔ 10% Discount on course and training costs
✔ 10% Discount for events and conferences
✔ Business Networking in Gibraltar
✔ Access to member forums


Contact Information

Gibraltar Association of Compliance Officers,

PO Box 1493, Gibraltar