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Phoenix compliance essentials #23 Today’s focus: circumventing international sanctions through the use of crypto assets Crypto assets raise new compliance challenges, particularly when it comes to complying with international sanctions. ➡️ Any transaction involving crypto assets requires particular vigilance from an AML/CFT/CPF perspective, notably due to: – The speed of transfers,– The pseudonymous nature of … Read more

Phoenix PDP essentials #5 Today’s focus: sensitive data, can we really collect it freely? Certain types of personal data benefit from enhanced protection. Their processing is not prohibited in principle, but it remains strictly regulated. 1️⃣ What is sensitive data? These are special categories of personal data whose use may adversely affect individuals’ rights and … Read more

Phoenix Compliance Essentials #22 Today’s focus: the key stages of KYC You are onboarding a new customer. Do you know exactly what needs to be verified? KYC enables institutions to identify and verify customers, understand their activities and assess their level of risk in order to prevent ML/FT-P-C risks. 1️⃣ Identify the customer Identification must … Read more

Phoenix Data Protection Essentials #4 Today’s focus: data breaches – do you know how to respond when an incident occurs? No organisation is entirely immune to a personal data breach. When an incident occurs, responding quickly is essential.But having the right methodology is just as important. Identify, assess, document, notify, inform and remediate: these are … Read more

Phoenix Compliance Essentials #21 Today’s focus: rebound accounts, understanding a circumvention scheme used in money laundering networks. ➡️ Definition A rebound account (also referred to as a transit account) is a bank or payment account used as an intermediary to conceal the origin of funds or circumvent certain control measures and international sanctions. In practice, … Read more