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.
A group of U.S. regulators has introduced a new reporting system aimed at easing the compliance burden on financial services operating across multiple states — although experts warn money...
On April 26, 2017 Azimo, an online remittance service based in the UK, introduced a new international money transfer feature to its app that allows users to send cash to any mobile phone number,...
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...
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...
Payments firms are concerned that anti-money laundering reforms will give EU member states too much freedom around central contact points, risking fragmentation across the single market.
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.
On April 17, 2017 Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, published remittance statistics for the first two months of 2017, which showed that personal remittances...
On April 19, 2017 First Global Data, in collaboration with LianLian Pay, launched a social messaging payments and remittance service to more than 100m users and merchant partners, enabling Chinese...
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...
On April 14, 2017 Igor Cherkaskyi, the head of the State Financial Monitoring Service (SFMS) of Ukraine, presented the public annual report for 2016....
On April 12, 2017, Zsolt Semjén, the deputy prime minister, on behalf of the government, submitted to parliament the draft Prevention of Money Laundering and Combating the Financing of Terrorism...
Authorities must improve their supervision of banks’ approach to anti-money laundering (AML) rules or face the collapse of remittance channels due to de-risking, a report claims.
German regulators have frozen the accounts of an unlicensed international remittance firm accused of fraudulently laundering crypto-currency OneCoin around the world.
On March 24, 2017 the Arkansas state legislature passed Act 620/2017, which introduces amendments to the Uniform Money Services Act. These changes aim to “clarify the surety bond requirements for...
London’s financial sector could continue to provide services across the EU after Brexit if regulators on both sides come to a “bespoke arrangement” drafted by industry lobbyists.

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