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4th AMLD Insights & Analysis
EU Lawmakers Push Back On High-Risk Watchlist
17th Jan 2017 | Written by:
EU parliamentarians could block European Commission plans to amend a list of countries deemed high risk in terms of financial crime, part of the incoming 4th Anti-Money Laundering Directive.
European Parliament Reveals ‘Fifth AMLD’ Rift
10th Jan 2017 | Written by:
European Parliament officials remain divided on whether prepaid cards and virtual currencies should be more tightly regulated under amendments to EU anti-money laundering laws.
Key Regulatory Trends And Industry Issues For 2017
3rd Jan 2017 | Written by:
After a turbulent and unpredictable 2016, the global payments industry has its work cut out to prepare for a flurry of regulatory, legislative and policy reforms.
Payments Industry 2016 In Focus: Main Stories And Trends
23rd Dec 2016 | Written by:
A landmark year for the global payments sector, 2016 was characterised as much by legal reforms as by seismic shifts in the political landscape. Regulators in the UK launched unprecedented new...
Extend EU Cash Controls To Prepaid, Says Commission
22nd Dec 2016 | Written by:
Officials in Brussels have sprouted plans to change the definition of cash to include prepaid cards, as part of new proposed regulation on funds entering and leaving the union.
Transparency Concerns Blight ‘Fifth AMLD’ Negotiations
21st Dec 2016 | Written by:
EU member states and financial transparency campaigners have said the European Council’s final position on amendments to the 4th Anti-Money Laundering Directive are “truly alarming”.
Italy Plots Closer Supervision In Financial Crime Fight
20th Dec 2016 | Written by:
Italian regulators have proposed tightening anti-money laundering controls for payments businesses passporting into the country, to address concerns that supervision in other EU states is too lax,...
Slovakia Officials Review Draft 4th AMLD Bill
9th Dec 2016 | Written by:
Slovakian authorities are rapidly moving ahead with plans to implement the 4th Anti-Money Laundering Directive, according to a source familiar with their thinking.
4th AMLD: Smaller Firms Warned Over Passporting
2nd Dec 2016 | Written by:
Legal experts have warned payments institutions passporting throughout the EU that incoming anti-money laundering laws may require them to have a physical presence in every member state where they...
Austria Warns Consumers On Bitcoin Pyramid Schemes
21st Nov 2016 | Written by:
Austrian regulators are warning that criminals are pairing virtual currencies with “multi-level marketing plans” to defraud consumers, in an area largely unregulated in national law.
European Parliament Refuses To Back E-Money Online Cap
17th Nov 2016 | Written by:
The European Parliament has resisted proposals to cap all online payments at €50 if made using anonymous e-money instruments, according to its initial response to the so-called “5th AMLD”.
France Continues Terror Funding Battle With New E-Money Laws
15th Nov 2016 | Written by:
The French government has finalised amendments to e-money laws, including new top-up thresholds, designed to prevent the use of anonymous payment methods for financing terrorist activity.
Personal Liability For AML Failings Could Be Ditched, Says FCA
11th Nov 2016 | Written by:
The Financial Conduct Authority (FCA) has suggested ambitious changes to financial crime controls in the UK, including scrapping personal liability for compliance officers and carrying out more on...
Weekly News In Brief: November 4, 2016
4th Nov 2016 | Written by:
The UK discusses beneficial ownership and current account reforms; the U.S. imposes sanctions on a money exchange accused of having links to Al Qaida operations in the Middle East; a rise in the...
HM Treasury Assesses Impact Of 4th AMLD On E-Money
3rd Nov 2016 | Written by:
HM Treasury has said it will examine whether UK prepaid card and e-money businesses could be adversely affected by EU anti-money laundering reforms.
European Council Issues Response To ‘Fifth AMLD’ Amendments
1st Nov 2016 | Written by:
The European Council has approved proposals to tighten controls on prepaid cards and virtual currencies under amended anti-money laundering (AML) laws, but struck out plans to bring the...
4th AMLD: Concerns Raised Over High-Risk Countries Proposals
24th Oct 2016 | Written by:
Calls from within the EU for further amendments to anti-money laundering reforms, including a significant expansion of the list of high-risk jurisdictions, could cause unwanted knock-on effects for...
ECB Raises Concerns Over EU Virtual Currency Plans
19th Oct 2016 | Written by:
The European Central Bank (ECB) has said it has “several concerns” around EU proposals to legitimise virtual currency businesses by bringing them within the scope of financial crime laws.
European AML Plans ‘Not Working Well’ As Discussions Drag On
13th Oct 2016 | Written by:
Last-minute amendments to EU anti-money laundering (AML) laws are highly unlikely to be finalised by January, despite determination from the European Commission to hasten the process,...
HM Treasury Launches 4th AMLD Industry Consultation
16th Sep 2016 | Written by:
The UK's HM Treasury has opened an industry consultation on how EU-wide anti-money laundering (AML) reforms will be transposed into national law in the country.
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