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4th AMLD Insights & Analysis
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...
Intelligence Unit Blamed As Commission Scolds Germany Over 4th AMLD
31st Jan 2019 | Written by:
The European Commission has issued a formal warning to Germany over its implementation of vital anti-money laundering (AML) rules, with nine other EU member states also on the receiving end of...
European Parliament's Russian Dirty Money Inquiry Rounds On Cyprus
30th Jan 2019 | Written by:
Financial crime experts have told a European Parliament committee that Cyprus’ financial sector remains overly reliant on illicit funds with links to Russia, despite efforts from authorities to...
5th AMLD: Netherlands Urged To Reconsider Crypto Strategy
17th Jan 2019 | Written by:
Industry groups and legal experts have urged Dutch officials to revisit draft anti-money laundering reforms, arguing the burden on virtual currency firms is too heavy — and may inadvertently apply...
Card Costs To Rise Under No-Deal Brexit, UK Warns, As Preparations Ramp Up
9th Jan 2019 | Written by:
The UK government has reiterated that card payments and euro transfers could become more expensive if the country leaves the EU without a deal in March, as authorities step up emergency...
Firms In Ireland Face Flurry Of Anti-Money Laundering Reforms
7th Jan 2019 | Written by:
Financial institutions in Ireland face an onslaught of regulatory reforms to the country’s anti-money laundering and counter-terrorist financing framework as the government seeks to make amends for...
2018 in Focus: Payments in Europe
21st Dec 2018 | Written by:
A landmark year for the continent’s payments industry, 2018 oversaw the introduction of major new EU legislation. The shift towards open banking propelled by regulation was accompanied by new rules...
Netherlands Lays Out Cost Of Compliance For Virtual Currency Exchanges
13th Dec 2018 | Written by:
The Netherlands has laid out the impact that new European anti-money laundering legislation will have on virtual currency exchanges, predicting that the new requirements will cost hundreds of...
Money Laundering-Data Protection Clash Leaves Polish Firms In Limbo
6th Dec 2018 | Written by:
Financial institutions in Poland are caught between European data protection laws and national on-boarding requirements, forcing some into onerous work-arounds to avoid the risk.
European Council Pushes For Early Introduction Of 5th AMLD
27th Nov 2018 | Written by:
European national authorities are being urged to introduce the 5th Anti-Money Laundering Directive (5th AMLD) early, as the union looks to harden its response to a recent string of financial crime...
Danske Whistleblower Points Finger At Danish Regulator And US Banks
22nd Nov 2018 | Written by:
The Danish national regulator was on Wednesday accused of actively aiding Danske Bank as the business struggled to contain revelations about its recent money laundering scandal by the whistleblower...
European Commission Reveals Shortlist For AML 'Blacklist' Reviews
20th Nov 2018 | Written by:
The European Commission has unveiled a list of “priority one” jurisdictions, including the United States, China and Australia, that will be considered next for inclusion on its blacklist of high...
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