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4th AMLD Insights & Analysis
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...
Payments Sector At 'High Risk' Of Money Laundering In Malta, Government Review Finds
19th Nov 2018 | Written by:
Payment and e-money institutions in Malta are "particularly exposed" to money laundering and terrorist financing risk, a national assessment in the Mediterranean island state has found.
UK Lifts The Lid On Post-Brexit AML Strategy
15th Nov 2018 | Written by:
The UK plans to incorporate the EU’s list of high-risk countries and enshrine tougher due diligence requirements on correspondent banking relationships into national law after Brexit.
European Commission Calls On Malta To Buck Up AML Regime
12th Nov 2018 | Written by:
The European Commission has urged Malta to “step up” its anti-money laundering (AML) activity, but the country’s financial authority and local experts have insisted that EU perceptions are trailing...
Luxembourg Referred To Court For Failure To Transpose 4th AMLD
9th Nov 2018 | Written by:
Luxembourg has been referred to the Court of Justice of the European Union for its failure to fully transpose critical European anti-money laundering (AML) legislation, a year after the official...
Poor Implementation Of European AML Rules Blamed For Financial Exclusion
31st Oct 2018 | Written by:
A paper from a think tank has suggested that it is uneven and inconsistent application of EU rules by member states, rather than the stricter requirements, that have created the most significant...
E-Money Firms 'Generally Effective' At Fighting Financial Crime, Says FCA
4th Oct 2018 | Written by:
A long-awaited review of the UK’s e-money sector has found firms generally have “reasonably effective” controls in place to fight financial crime, although regulators are urging them not to become...
European Lawmakers Applaud Plans For Stronger EBA
4th Oct 2018 | Written by:
EU legislators have thrown their weight behind plans to beef up the continent’s defences against illicit finance, with almost unanimous agreement in plenary debate on Wednesday that a stronger...
EU Eyes Shift From Directives To Regulations For Money Laundering
3rd Oct 2018 | Written by:
Plans to reform European anti-money laundering legislation so they take the form of regulations, rather than directives, received cautious accord among ministers on Tuesday, with the continent...
Commission Seeks Stronger EBA After Money Laundering Scandals
13th Sep 2018 | Written by:
The European Banking Authority (EBA) appears set to gain stronger financial crime-fighting powers across the EU, after ongoing concerns about shortcomings in national-level approaches to money...
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