The UK’s Criminal Finances Bill, initially perceived as underwhelming, has gained royal assent after being subject to a series of last-minute changes by parliamentarians.
EU industry groups are making a last-ditch lobby effort on access to accounts, transaction fraud rates and corporate payments as the European Commission considers whether to make changes to the...
On April 1, 2017 those provisions of Resolution 439-11/2016 that set out the new thresholds for which obligated parties must report entered into force. These provisions were established in...
Banking industry insiders have suggested de-risking does not necessarily stop illicit funds from passing through the financial system, instead labelling the practice a by-product of ineffective...
On April 21, 2017 the State Duma passed a draft Law on amendments to Article 16.1 to FZ "On protection of consumer rights" and FZ "On the national payment system" in the third reading, which sets...
Faced by an unpredictable new US administration, rising international political tension and ever-toughening sanctions regimes, banking veterans and financial crime experts are concerned by how...
A global watchdog has commended Sweden as having a “strong regime” to tackle financial crime, although identified a fragmented understanding among its regulators of the risks associated with the...
On April 21, 2017, the National Bank of Ukraine (NBU) published an announcement on ID card innovation and how the cards can be used as a convenient tool to access banking services, despite initial...
The Financial Action Task Force (FATF) has assessed Sweden’s anti-money laundering and counter-terrorism financing (AML/CTF) measures in place at the time of the on-site visit from May 26, 2016 to...
Nausicaa Delfas, executive director at the UK's Financial Conduct Authority (FCA), gave a speech, "'Expect the unexpected' — cyber security — 2017 and beyond", at the Financial Information...
On April 24, 2017, Vitas Vasiliauskas, the chairman of the board of the Bank of Lithuania, held a meeting with the International Monetary Fund (IMF) to discuss economic developments across euro...
Industry researchers believe European officials may amend the European Banking Authority's proposed rules allowing providers to bypass certain security checks if fraud rates are sufficiently low.
The Conference of State Bank Supervisors (CSBS) has released a new tool for money services businesses (MSBs) to improve compliance and transparency in the industry by providing uniform licensing...
The UK government has opened public consultations on how it will apply, maintain and review sanctions regimes once the country has left the European Union.
The Bank of England questions the effectiveness of enormous fines for misconduct; U.S. regulators are rapped for their handling of the Wells Fargo fake account scandal; Japan's top financial...
The UK has admitted question marks remain over the cost and effectiveness of its financial crime legislation, although industry experts have cast doubt on claims that compliance is getting easier...

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