Categorie archief: English – posts in English on this blog

Measures to diminish excessive de-risking practices by banks | AML, CFT, BIS

Excessive de-risking practices by banks, leading to the decline in correspondent banking relationships, is worrying the Bank for International Settlements (BIS). BIS decided to publish a document on AML/CFT supervision of correspondent banking. Time has come that the AML/CFT principles … Lees verder

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Schrems in the European Parliament | Privacy Shield

Yesterday was the session of the LIBE committee of the European Parliament on Privacy Shield. Someone who watched wonders if European data protection is teethless: Schrems tells MEPs that he’s had confidential calls with US industry reps, and that the … Lees verder

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Privacy Shield: MEPs to assess the future of EU-US personal data flows | EU, GDPR

Members of the European Parliament will discuss Privacy Shield. Civil Liberties MEPs will tomorrow discuss ways forward on transatlantic data transfers following the ECJ’s ruling invalidating the Privacy Shield decision. Read the press release of today. The agenda is here. … Lees verder

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EDPB decisions on observance of GDPR by obliged entities under AML

The European Data Protection Board (EDPB) in 2019 has published two decisions on the application of GDPR in relation to anti money laundering (AML). Both decisions have the lawfulness of processing and the right to erasure as subjects. In the … Lees verder

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EBA neglects GDPR in RegTech consultation | AML, CFT

The European Banking Authority (EBA) launched a RegTech industry survey, inviting financial institutions and ICT third party providers, to share their views and experience on the use of RegTech solutions. EBA is mainly interested in the following functions of technology-enabled … Lees verder

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Treat human beings like criminals | AML, CFT

“Here’s a radical idea that will change policing, transform prisons and reduce crime: treat criminals like human beings“, wrote Rutger Bregman for The Correspondent. In AML-legislations the opposite happens: human beings are treated like criminals. Or more precise: obliged entities … Lees verder

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Biometric recognition for tracking, surveillance and detecting emotions should have no place in Europe’s human-centric approach to AI | EESC

The European Economic and Social Committee (EESC) published their view on biometrics in its response to a consultation by the European Commission. Their announcement starts with: Biometric recognition for tracking, surveillance and detecting emotions should have no place in Europe’s … Lees verder

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Indexation of mankind by not-for-profits | Basel AML Index

Anti-money laundering is a world full of indexes published by opaque organisations. The latest is the Basel AML Index 2020. Basel Institute on Governance This index is published by a legal entity with the name Basel Institute on Governance. The … Lees verder

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European Payments Initiative

A European group of banks, including the Dutch ING Bank, has announced cooperation in regard of payment transactions, referred to as the ‘European Payments Initiative (EPI)’. The group intends to create a pan-European payment solution leveraging notably instant SEPA credit … Lees verder

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PSD2-GDPR guidelines in consultation | EDPB

During its 34th plenary session, the EDPB adopted draft Guidelines on the interplay between the second Payment Services Directive (PSD2) and the GDPR, read this press release, where they say: The EDPB adopted Guidelines on the second Payment Services Directive … Lees verder

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