Compliance

Compliance (regulatory compliance) means conforming to comply with relevant laws and regulations. Together with KYC Spider in Zug Eurospider has in-depth compliance know-how.

Let’s assume that a financial intermediary arranges all customer relationships into 100 risk categories. The first category with the lowest risk level contains the highest number of customer relationships, while the last category with the highest risk level contains the lowest number of customer relationships. Experience shows that the number of customer relationships is distributed according to Zipf’s law. What does that mean for compliance?

A transaction monitoring system identifies higher-risk transactions (art. 20 para. 2 AMLO-FINMA). Statisticians give such tasks the respectful label of ‘ill-posed problems’, as they cannot always be conclusively solved. Statisticians love solving these problems.

Aspiring lawyers are encouraged to come to clear conclusions even in their first semester. Legal consequences take effect if all elements of the offense are fulfilled or if at least one variant of the offense is fulfilled.

Chatbot technology will fundamentally alter interactions between customers and partners. That’s what PWC and the University of St. Gallen predict.

The Money Laundering Reporting Office Switzerland’s (MROS) annual report contains information about the factors arousing suspicion which lead to Suspicious Activity Reports (SARs).

Complete Revision of the Federal Data Protection Act

The complete revision's draft of the Federal Data Protection Act is currently in political consultation. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparancy regarding the handling of confidential data.

Links: draft, report

Eurospider Information Technology AG
Schaffhauserstrasse 18
8006 Zürich

 

Cookies make it easier for us to provide you with our services. With the usage of our services you permit us to use cookies.
More information Ok Decline