CURENTIS AG

🏦 BEREIT FÜR DIE CRR III? 📊Unser Web-Seminar "CRR III – Einblick in neue Anforderungen für Kreditinstitute" am 18.12.24 um 17 Uhr gibt Ihnen den perfekten Überblick! Auf folgende Themen geht das Web-Seminar ein: 💳 Kreditrisiko 📈 Credit Valuation Adjustment (CVA) 📉 Marktrisiko 🕔 Operationelles Risiko Hier finden Sie die Anmeldung! 🚀https://hubs.ly/Q02_nL2c0 #CRRIII #Bankenregulierung #FinanzExpertise #WebSeminar #Basel3 #Risikomanagement

KLARNA FACES SEK 500 MILLION FINE OVER AML VIOLATIONS The Swedish Financial Supervisory Authority (FI) has issued a SEK 500 million administrative fine and a formal remark to Klarna Bank AB for breaching anti-money laundering (AML) regulations. The violations occurred between April 2021 and March 2022 and relate to deficiencies in the bank's general risk assessments, customer due diligence procedures, and guidelines. KEY FINDINGS OF THE INVESTIGATION: 🧐 Klarna’s general risk assessment lacked critical evaluations of how the bank’s products and services could potentially be exploited for money laundering or terrorist financing. 🚫 The bank failed to implement adequate procedures and guidelines for customer due diligence in all relevant scenarios, particularly for its widely-used invoice payment product. 📊 Klarna did not have an effective procedure for model risk management, a crucial element in maintaining robust financial compliance. FI’S RULING AND RATIONALE Despite the violations, FI deemed the issues insufficiently severe to warrant a withdrawal of Klarna’s banking license or a formal warning. Instead, the authority issued a remark coupled with the SEK 500 million fine, citing Klarna’s strong financial position and the nature of the breaches. FI’s investigation revealed that Klarna’s risk assessment failed to address how its products and services might be exploited for money laundering or terrorist financing. The bank also lacked adequate procedures to identify high-risk situations for customers using its invoice product and failed to implement a robust model risk management framework. KLARNA'S POSITION AND IMPACT Klarna, a leader in the "buy now, pay later" sector, serves millions of global consumers and partners with over 68,000 merchants. Despite its rapid expansion, the company faces growing scrutiny from regulators. Earlier this year, Klarna also incurred a fine for violating GDPR by inadequately informing users about its data-handling practices. The current fine underscores FI’s commitment to enforcing stringent AML measures, especially for firms with significant financial and technological influence. FI Director General Daniel Barr emphasized the importance of compliance to mitigate the risk of financial crimes, while clarifying that the violations do not warrant withdrawal of Klarna’s banking license or a warning. CHALLENGES AHEAD This regulatory setback comes as Klarna prepares for a potential IPO, with the company targeting a valuation of $20 billion. Klarna has stated its commitment to addressing these issues and improving its compliance framework. Nonetheless, the fine serves as a stark reminder of the challenges fintech firms face in balancing innovation with regulatory adherence. 🚨 #KlarnaFined #AMLViolations #FinTech #CURENTIS

🎓 HERZLICHEN GLÜCKWUNSCH, Lina Schäfer! 🌟 Das Team der CURENTIS gratuliert Lina Schäfer, Teamlead AFC Schweiz und Senior AFC Consultant, herzlich zum erfolgreichen Abschluss ihres berufsbegleitenden Masterstudiums im Bereich General Management. Ihr Einsatz und ihre Zielstrebigkeit sind beeindruckend und verdienen höchste Anerkennung! Ihre Masterarbeit mit dem Titel „Prävention von Geldwäsche und Terrorismusfinanzierung – Aktueller Forschungsstand zum Einsatz von künstlicher Intelligenz“ zeigt ihre Expertise und ihren Innovationsgeist in der Finanzkriminalitätsprävention. Lina, wir sind sehr stolz auf Deine Leistungen und freuen uns auf Deine zukünftigen Erfolge und Beiträge zur Compliance-Zukunft! #TeamCurentis #Geldwäscheprävention #KünstlicheIntelligenz #HerzlichenGlückwunsch

SUSTAINABLE FINANCE: BUILDING A GREENER FUTURE 🌍 Swiss and international initiatives are driving the financial sector towards sustainability: - New Swiss Climate Act (2025): Promotes net-zero strategies and innovation. - PACTA Climate Test: Over 60% of financial institutions now include net-zero targets in their strategies. - EU ESG Regulation: Enhances transparency in ESG ratings. - Sustainable Finance Initiative: Focuses on reducing CO₂ emissions and biodiversity impact. AFBS Association of Foreign Banks in Switzerland highlights the need for clear frameworks and harmonized standards in there Newsletter from 11.2024. CURENTIS AG helps financial institutions navigate this evolving landscape, offering expert guidance on integrating sustainable finance practices, complying with emerging regulations, and building robust strategies for a net-zero future. Our tailored solutions ensure banks are well-equipped to meet both current and future sustainability challenges. #SustainableFinance #NetZero #ESG

🎅CURENTIS WEIHNACHTSFEIER 2024 Die CURENTIS Weihnachtsfeier 2024 fand im Herzen Frankfurts statt und bot ein unvergessliches Erlebnis! ❄️Am Nachmittag genossen wir den Skyline Winterzauber im Skyline Plaza, wo wir auf der ökologischen Eisbahn unsere Runden drehen und beim Eisstockschießen unser Geschick unter Beweis stellen konnten. In gemütlichen Hütten wurden wir mit winterlichen Drinks und köstlichen Leckereien verwöhnt, die die festliche Stimmung perfekt abrundeten. Das absolute Highlight des Tages war der Besuch im Restaurant Zukaya, wo der kleinste Koch der Welt die neueste Show von Le Petit Chef 👨🍳 präsentierte. Ein großes Dankeschön an alle, die zu diesem wunderbaren Tag beigetragen haben! 🎉 #CURENTIS #Weihnachtsfeier #Frankfurt #SkylineWinterzauber #LePetitChef

FINMA ENFORCEMENT ACTION: PROTECTING INVESTORS FROM UNLAWFUL ACTIVITIES The FINMA has initiated an enforcement procedure against ten interconnected companies and two individuals, suspecting unauthorized financial activities such as operating securities and derivatives houses, accepting public deposits, and issuing structured products—all without required licenses. To safeguard investor interests, FINMA has appointed an investigator with authority to act in place of company management. The affected entities reportedly lack proper accounting, leaving their financial situation unclear. A notable case involves the “Supernova” restaurant at Schauplatzgasse 22 in Bern, owned by one of the targeted companies. FINMA suspects the property purchase was financed through illicit means. Additionally, the sublease agreement claimed by the restaurant operator is under scrutiny, with signs it may have been unlawfully arranged. As an independent supervisory authority, FINMA’s mission is to protect the stability of the Swiss financial market and its participants. At Curentis AG, we help organizations navigate complex compliance challenges and ensure regulatory adherence. #FINMA #EnforcementAction #InvestorProtection #Compliance #CurentisAG 🌐

US SANCTIONS ENFORCERS FOCUS ON RUSSIAN UBS CLIENTS – CHALLENGES FOR THE FINANCIAL INDUSTRY 🌍 Recent reports of the U.S. Office of Foreign Assets Control (OFAC) inquiring about Russian clients at UBS and former Credit Suisse underscore the immense pressure on global banks to ensure compliance with sanctions regulations. In today’s volatile geopolitical landscape, robust risk and compliance management is not just a necessity but a competitive advantage. ⚖️ SANCTIONS AND GLOBAL STANDARDS While Swiss and EU sanctions largely align, significant differences with U.S. and UK regulations can add layers of complexity. Insufficient sanctions management not only risks reputational damage but can also lead to severe penalties, as seen in the $9 billion fine imposed on BNP Paribas in 2014 for sanctions violations. 💡 WHAT DOES THIS MEAN FOR BANKS AND BUSINESSES? Customer relationships and transactions require thorough scrutiny. Institutions like UBS are implementing strict risk management principles to meet regulatory demands. However, integrating these measures, especially in the wake of major acquisitions like Credit Suisse, remains a complex task. 🚀 CURENTIS: YOUR PARTNER IN THE FIGHT AGAINST FINANCIAL CRIME In this challenging environment, CURENTIS AG provides expert support to companies combatting financial crime. Our services include: - Sanctions and Embargo Management: Consulting and implementing solutions to meet international regulations. - Customer and Transaction Monitoring: Efficiently analyzing and addressing potential risks. - Integration of Anti-Financial Crime Processes: Tailored strategies for effective compliance and risk management. 🌐 Let’s work together to safeguard the integrity of the financial industry. Contact us to learn more about our Anti-Financial Crime solutions. #Compliance #AntiFinancialCrime #SanctionsManagement #RiskManagement #CURENTISAG

DIE ROLLE DES BANKENSEKTORS IN DER BEKÄMPFUNG VON GELDWÄSCHE – ERKENNTNISSE AUS DEM FIU-JAHRESBERICHT 2023 🚨 Die Financial Intelligence Unit (FIU) hat ihren Jahresbericht 2023 am 06. November vorgestellt. Sie zeigt darin wesentliche Fortschritte und Herausforderungen im Kampf gegen Geldwäsche und Terrorismusfinanzierung auf. Der Bankensektor nimmt hierbei eine zentrale Rolle ein, sowohl als Akteur in der Einhaltung gesetzlicher Vorschriften als auch als Partner in der internationalen Zusammenarbeit. In unseren aktuellen News betrachten wir die wichtigsten Infos aus Bankensicht. Die Highlights: 💪Qualität schlägt Quantität bei Verdachtsmeldungen! Im Jahr 2023 verzeichnete die FIU mehr als 322.000 Verdachtsmeldungen, davon einen signifikanten Anteil aus dem Bankensektor. Trotz eines Rückgangs der Gesamtmeldungen um 4,33 % hebt die FIU hervor, dass die Meldequalität gestiegen ist. 💰 310 Mio. € durch Sofortmaßnahmen gesichert. Ein zentraler Erfolg der FIU im Jahr 2023 war die Sicherung von 310 Millionen Euro (gegenüber 3,7 Mio. € im Jahr davor) durch 60 Sofortmaßnahmen. 🎯 Risikobasierter Ansatz wird Standard. Die im November 2023 eingeführte Änderung des Geldwäschegesetzes erlaubt es der FIU, einen automatisierten, risikobasierten Filter für Verdachtsmeldungen anzuwenden. 🌍Stärkere internationale Zusammenarbeit. Die Anti Financial Crime Alliance (AFCA) hat sich 2023 als Plattform für den Wissensaustausch zwischen Behörden und Banken etabliert. 🛡️Technologische Entwicklungen und Datenqualität: Die FIU hat 2023 Fortschritte bei der Digitalisierung ihrer Prozesse gemacht, die auch Banken zugutekommen Hier finden Sie die komplette News https://hubs.ly/Q02ZHxpP0 #AntiGeldwäsche #Compliance #FinanzSicherheit #BankenInnovation #FIUBericht2023

SUSTAINABLE COMMITMENT TO BEE CONSERVATION BEARS FRUIT 🐝🌍 CURENTIS AG continues its commitment to sustainability and environmental protection, reaping the sweet rewards of its partnership with beefuture. Since April 2022, the company has been hosting a diligent bee colony on beefuture's grounds at Lake Ammersee, which is now preparing for the winter months. 🍯🌱 🍂Autumnal Activities in the Beehive With the arrival of autumn, a critical phase begins for the bees. The CURENTIS bees demonstrate impressive adaptability to the changing seasons: 🧊 Winter Preparation : The bees seal cracks in the hive with propolis and fill their combs to store provisions for winter. 🌻 Food Sources : Despite diminishing floral abundance, the bees find nourishment in late bloomers such as sedums, autumn anemones, and sunflowers. 👵🐝 Generational Shift : The long-lived winter bees, which can survive up to seven months, take on the task of guiding the colony through the cold season. Professional Care by beefuture 🏆 The experts at beefuture ensure the well-being of the CURENTIS bee colony: 🔍 Regular Inspections : In recent weeks, all necessary tasks have been checked to ensure optimal preparation for winter. 🌞 Adaptation to the Annual Cycle: The beekeepers observe the natural reduction in brood activity and the exclusion of drones from the hive. SUSTAINABILITY AS A CORPORATE VALUE 🌿 The partnership between CURENTIS and beefuture underscores the company's commitment to environmental protection and sustainable development. By supporting the bee population, CURENTIS is actively contributing to the preservation of biodiversity and setting an example for ecological responsibility in the financial sector. 🌎💚The bee colony at Lake Ammersee is just one aspect of CURENTIS AG's comprehensive sustainability strategy. The company plans to further expand its commitment to sustainability and is currently working on a detailed sustainability report, which is expected to be published at the end of the year. This report will be prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD) requirements, ensuring comprehensive and transparent disclosure of the company's environmental, social, and governance (ESG) practices. The report will not only document current initiatives but also outline future goals and measures in the field of sustainability. With this, CURENTIS aims to create transparency and inspire other companies in the industry to take similar steps towards a more sustainable future. 📊🌱#SustainableBanking #BeeConservation #EnvironmentalProtection #ESG #CorporateSustainability #Biodiversity #ClimateAction

BEWARE OF PHISHING: FAKE FINMA EMAILS CIRCULATING ! 🔒 The Swiss Financial Market Supervisory Authority (Finma) is currently warning about a surge in fraudulent emails that impersonate the agency. 🎯 Especially concerning: Cybercriminals are targeting individuals who have previously fallen victim to financial fraud. These fake emails, disguised as Finma correspondence, offer victims restitution for financial losses—a dangerous bait to obtain sensitive information! 🚨 Finma emphasizes: “We do not send such emails and do not contact private individuals.” If you have any doubts, always check the sender’s address carefully or contact Finma directly at questions@finma.ch. 💻📩 CURENTIS: Working Together for Secure Financial Markets 🛡️ As a consulting firm supporting financial institutions with regulatory challenges, CURENTIS understands the importance of compliance in protecting clients and businesses from such threats. With tailored compliance and security strategies, we help our clients stay prepared and protected. Because only by strictly adhering to and advancing compliance policies can we effectively mitigate the growing risks of cybercrime. 💼🔐 #CURENTIS #ComplianceFirst #FinmaAlert #PhishingProtection #FinancialSecurity #CyberSecurity #Banking