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4th AMLD Insights & Analysis
Pressure On PayPal Over Political Donations Could Spur New Laws
5th Nov 2019 | Written by:
UK payment service providers could face new laws designed to combat illicit political donations after lawmakers grilled PayPal over its approach to handling payments to local political parties...
EBA Calls For New Laws As Fintechs Face Fragmentation
30th Oct 2019 | Written by:
The European Banking Authority (EBA) has called for new legislation after finding fintechs passporting across member states are held back by fragmented regulatory oversight, including rules on...
Payment Firms' Agents Targeted In Germany's Money Laundering Reforms
22nd Oct 2019 | Written by:
The German Ministry of Finance has said that the requirements for agents of foreign payment companies may need to be tightened, as it called for improvements in the sector’s filing of suspicious...
Estonian Officials Talk Tough On AML But Drag Feet On Reforms
16th Oct 2019 | Written by:
As liquidation of the scandal-ridden Estonian branch of Danske Bank begins, legal experts believe there is still a gap between authorities’ strong words on financial crime and the steps taken to...
Australian Stock Exchange Quizzes Payments Firm Over Crypto, Forex Clients
15th Oct 2019 | Written by:
Australian payments and customer authentication provider iSignthis is under the microscope of the country’s stock exchange over its business with the cryptocurrency, foreign exchange and binary...
Italy Threatens €1.3m Payment Blocking Fines
15th Oct 2019 | Written by:
Payment providers operating in Italy could be forced to block transactions with unlicensed gambling operators on pain of fines of up to €1.3m, according to a leaked draft law.
EU-Wide Information Sharing Network Faces Chop Over Data Concerns
4th Oct 2019 | Written by:
Cross-border investigations triggered by suspicious transaction reports from European financial institutions could be crippled by advice that the system used to share the filings is illegal.
European Firms Challenged Over Third Country AML Risk
2nd Oct 2019 | Written by:
Financial institutions headquartered in Europe but operating elsewhere face “significant” consequences if they do not identify conflicts between EU laws on anti-money laundering (AML) and those in...
Europe To Prioritise Money Laundering Reforms After 4th AMLD Woes
20th Sep 2019 | Written by:
The European Commission will prioritise making future anti-money laundering rules directly applicable in all member states, after widespread failures at national level to introduce reforms fully...
Irish Regulator Warns Against ‘Blind Faith’ in Transaction Monitoring Tools
9th Sep 2019 | Written by:
Ireland’s central bank has urged financial institutions not to put “blind faith” in automated systems that are widely used to conduct transaction monitoring.
High-Risk Country Blacklist Tops EU Agenda For First Week Back
6th Sep 2019 | Written by:
The European Commission has put reform of how it assembles its list of high-risk third countries at the top of its agenda as a fresh legislature returned to Brussels to confront issues of financial...
Brussels' Money Laundering Proposals Met With Scepticism
30th Jul 2019 | Written by:
The European Commission’s plans to change EU anti-money laundering rules from directives into regulations will not solve the underlying problem of lacklustre supervision, legal experts have said.
Fed Up EU Commission Backs Legal Shift On Money Laundering Directives
25th Jul 2019 | Written by:
The European Commission has thrown its weight behind a move to make EU anti-money laundering (AML) regulation directly applicable in member state law as it lashed member states for fumbling...
4th AMLD: New Standards Up Stakes In High-Risk Third Countries
28th Jun 2019 | Written by:
From September, European firms will need to tread even more carefully around their operations in third countries when it comes to anti-money laundering (AML) — but idiosyncratic data protection...
Despite Scandals, Malta Authorities See Patchy Transaction Reporting
27th Jun 2019 | Written by:
Firms in Malta continue to under-report suspect transactions, the country’s financial investigators have said, despite a doubling in the number of suspicious transaction reports received over the...
E-Money Firms Sound Alarm Over Incoming AML Overhaul
25th Jun 2019 | Written by:
UK e-money firms have raised “serious concerns” about incoming restrictions on anonymous prepaid cards issued outside the EU, warning the government over the compliance burden that will fall on the...
EBA Weighs In On Passporting Supervision Row
25th Apr 2019 | Written by:
The EU’s top payments regulator has stepped into a row between member states over supervision of firms passporting across national borders, taking a relatively tough stance on the controversial...
UK Forges Ahead With Crypto, E-Money Reforms, Unveils 5th AMLD Strategy
16th Apr 2019 | Written by:
The UK has opened consultations on its approach to EU-wide anti-money laundering reforms, restating its plans to regulate a wider range of crypto-asset activities and tighten controls on e-money...
Figures Show Zero Prosecutions Under UK's AML Regulations
7th Mar 2019 | Written by:
There were no prosecutions under the UK’s Money Laundering Regulations for more than a year after the transposition of recent European legislation, government statistics reveal.
Lithuania Ups Payments, E-Money Supervision After AML Critique
13th Feb 2019 | Written by:
Authorities in Lithuania have established a specialist division to oversee e-money and payments businesses and introduced spruced-up reporting requirements following a bruising review of its money...
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