European parliamentarians have given the seal of approval to reforms that will classify anonymous prepaid cards as cash in efforts to combat illicit funds moving in and out of the EU.
The EU has finally introduced new anti-money laundering rules for payment firms operating through networks of agents or distributors, more than a year after a final draft text was submitted to the...
A UK-based consultancy specialising in financial crime has warned that many e-money firms “have areas for improvement” in how they approach anti-money laundering requirements.
Danske Bank has promised to cooperate with Danish authorities, after authorities announced they were launching criminal investigations into alleged money laundering failings dating back to 2007.
The European Commission has indicated that amendments will likely be made to existing anti-money laundering (AML) laws so that third-party providers accessing account data are kept out of scope.
Spain’s delayed transposition of the revised Payment Services Directive (PSD2) has meant that fintechs in the country are still relying on screen scraping for account access — a situation that...
A senior European Commission official has reassured parliamentarians that countries added to an enhanced EU blacklist of high-risk jurisdictions “will not be taken by surprise” by the decision.
German authorities have been urged to relax rules around customer onboarding, with payment and fintech associations complaining that the national anti-money laundering regime discriminates against...
Swiss legislators, feeling the heat from international watchdogs, have committed to bringing anti-money laundering (AML) standards up to scratch — but some observers claim that industry is already...
The European Banking Authority (EBA) has decided to launch a formal investigation into whether Maltese financial crime authorities were in breach of EU anti-money laundering (AML) laws.
EU member states must ensure transposition of the 5th Anti-Money Laundering Directive (5th AMLD) is clear and consistent with regard to cryptocurrency firms, according to a report commissioned by...
Five major Nordic banks have unveiled plans to develop a shared know your customer (KYC) scheme available to third parties, although the project has not yet gained approval from EU-level...
More than €11bn of suspicious funds were funnelled through Estonian financial institutions between 2011 and 2016 in large-scale laundering schemes, as the Baltic state’s anti-money laundering...
Polish payment and e-commerce companies have been spared the effects of recent fraud trends as a result of largely outdated payment methods prevalent in the country, but companies need to do more...
Despite a raft of urgent EU regulatory reforms aimed at tackling terrorist financing, officials remain concerned about a lack of visible progress at member state level — with cash, prepaid cards...
The influential UK-based Electronic Money Association has told an inquiry into cryptocurrencies that regulators should give the technology room to grow, resisting scathing criticism from other...
The European Commission has joined parliamentarians and representatives from Austria in expressing disappointment at the final text of the 5th Anti-Money Laundering Directive (5th AMLD).
Payment and e-money firms passporting throughout Europe are caught in the middle of escalating tensions between home and host regulators, due in part to mistrust over supervision of cross-border...
A European Parliament special committee has accused financial enforcement authorities in three EU member states of failing in their duty to fight financial crime, after major institutions under...
Latvian authorities, spooked by a recent high-profile failure, have launched a belated assault on the dirty money coursing through the veins of the Baltic nation’s financial system — prompting...

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