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唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
严立新
严立新
复旦大学经济学院、金融研究院副教授,中国反洗钱研究中心执行主...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
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李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
中南财经政法大学教授,计算机科学与技术专业工学博士,复旦大学理论...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
高增安
高增安
复旦大学中国反洗钱研究中心特聘研究员,专事反洗钱与贸易领域的研...
顾卿华
顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任安永管理咨询服务合伙...
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Belgian banks plot platform to share anti-money laundering data

 

https://www.thebanker.com/Banking-Regulation-Risk/Belgian-banks-plot-platform-to-share-anti-money-laundering-data

 

A group of Belgium’s leading banks have proposed the establishment of a platform to exchange information about suspect transactions with Belgian authorities and as well as each other in a bid to clamp down on illicit money flows.

 

The banks — ING Belgium, KBC Bank, Belfius Bank and Insurance and BNP Paribas Fortis — made the proposal at a Belgian parliamentary hearing in November in response to criticism over anti-money laundering failures following the release of the FinCEN files.

 

The Belgian banks called for laws allowing them to set up a secure system to share information about suspected money laundering and the shadowy entities behind the transactions, according to a report by the International Consortium of Investigative Journalists.

 

A similar system was set up in The Netherlands last year when five Dutch banks – ABN AMRO, ING, Rabobank, Triodos Bank and de Volksbank – set up the Transaction Monitoring Netherlands (TMNL) initiative in conjunction with the Dutch Banking Association.

 

European push

The Belgian banks’ proposal follows a recent agreement by European finance ministers to create a new European Union-level body with the ability to intervene when institutions are deemed at risk and take action in certain situations above national regulators.

 

The EU ministers backed to a plan to harmonise anti-money laundering (AML) rules across the EU as well as facilitate better coordination by member states’ financial intelligence units.

 

The Belgian proposal, and the hearings themselves, are the latest fallout from the release of the FinCEN files in September – more than 2100 documents banks sent to US authorities between 2000 and 2017 raising concerns about clients’ activities – which highlighted how banks moved billions of dollars in dirty money for criminals and corrupt regimes.

 

Improving AML

The biggest banks sharing AML data to help spot criminal activity across the wider system is great news for law enforcement and bad news for financial criminals,” said Phil Rolfe, CEO P2 Consulting and former head of anti-money laundering at Royal Bank of Scotland.

 

There is no competitive advantage to be gained by [banks] working alone, increasing collaboration and data sharing is the only way that banks and financial institutions are going to get a step ahead of the criminal fraternity.”

 

Mr Rolfe said one of the flaws in AML transaction monitoring at individual banks is that it traditionally uses defined scenarios – such as €10,000 ‘floor limits’ or early repayments – where loans or other debts get paid off rapidly.

 

Banks push historic payment information through what we technically call ‘big boxes’ which then generate alerts when a scenario is breached – for example if more than €10,000 is paid in, in a single payment, or if there is early repayment of a mortgage, for example,” Mr Rolfe said.

 

The effectiveness of the transaction monitoring system is driven by the quality of the data input and the sophistication of the ‘net’ used to detect breaches.”

 

Under the current system, banks sometimes seek to tune the scenarios – creating bigger holes in the net – to reduce the number of alerts they receive and therefore reduce the manpower needed to review them, Mr Rolfe added, which has contributed to lax controls in the past and an inability to effectively tackle AML as highlighted in the FinCEN files.