by AndriesCoetsee » Fri Feb 14, 2025 2:14 pm
What is Financial compliance?
Financial compliance refers to the laws, regulations, and standards that govern the financial industry, ensuring that organizations prevent, detect, and report illicit activities. Anti-money laundering is a critical component of financial compliance, focusing on preventing criminals from disguising the source of illegally obtained funds. On this blog, we'll explore the latest developments, best practices, and practical guidance on AML and financial compliance, helping you navigate the complex landscape and protect your organization from financial crime
How I began
My financial compliance journey began in 2015 when I joined a reputable law firm that specialized in international banking law. As a member of the firm's compliance team, I was immersed in the intricacies of global financial regulations, working closely with clients and colleagues to navigate the complex landscape of cross-border transactions, anti-money laundering (AML) laws, and financial crime prevention. During my time at the firm, I gained invaluable hands-on experience in:
- Conducting risk assessments and due diligence on international clients
- Developing and implementing AML policies and procedures
- Collaborating with regulatory bodies and law enforcement agencies
- Staying up-to-date on evolving global regulations and industry standards
This foundational experience laid the groundwork for my passion and expertise in financial compliance, driving me to continue learning, growing, and sharing my knowledge with others in the field.
[size=150]
What is Financial compliance?[/size]
Financial compliance refers to the laws, regulations, and standards that govern the financial industry, ensuring that organizations prevent, detect, and report illicit activities. Anti-money laundering is a critical component of financial compliance, focusing on preventing criminals from disguising the source of illegally obtained funds. On this blog, we'll explore the latest developments, best practices, and practical guidance on AML and financial compliance, helping you navigate the complex landscape and protect your organization from financial crime
[size=150]
How I began[/size]
My financial compliance journey began in 2015 when I joined a reputable law firm that specialized in international banking law. As a member of the firm's compliance team, I was immersed in the intricacies of global financial regulations, working closely with clients and colleagues to navigate the complex landscape of cross-border transactions, anti-money laundering (AML) laws, and financial crime prevention. During my time at the firm, I gained invaluable hands-on experience in:
- Conducting risk assessments and due diligence on international clients
- Developing and implementing AML policies and procedures
- Collaborating with regulatory bodies and law enforcement agencies
- Staying up-to-date on evolving global regulations and industry standards
This foundational experience laid the groundwork for my passion and expertise in financial compliance, driving me to continue learning, growing, and sharing my knowledge with others in the field.