What is RegTech? — Your Guide for 2019
Regulatory technology, also known as RegTech, is a field which aims to improve and facilitate compliance processes.
The General Data Protection Regulation (GDPR) came into effect on the 25th of May 2018 and fundamentally changed the way businesses treat their customers’ data. Specifically, GDPR represents a data protection law which was passed by the European Union in 2016, and now affects corporations all over the world.
Over the last two decades, terrorist financing has become one of the most devastating financial crimes in the world. It’s always been prevalent, but it wasn’t until the horrendous 9/11 terrorist attacks, that regulators started to give the topic special attention.
An accredited investor can be broadly defined as an individual or business authorized to sell securities that are not registered with a regulatory authority. They can include high net worth individuals, financial institutions, investment and insurance companies, and various other kinds of persons and corporations.
Money laundering is a practice almost as old time itself. From as early as 2000 BCE, wealthy Chinese merchants would move their profits outside of China, as the government did not support commercial trading. They would then reinvest their smuggled funds into other enterprises, a technique still used today.