The UK government has rejected calls to reconsider the anti-money laundering (AML) supervisory role of the country’s tax regulator, speed up action on de-risking and focus on calculating the true...
EU authorities have expressed concern that the bloc’s instant payment rails are being used to best effect by foreign competitors, while European firms remain mired in national domestic interests...
The Danske Bank money laundering scandal looks to have claimed its first scalp, after former chief executive Thomas Borgen was charged by Danish prosecutors on Tuesday.
On March 13, 2019, the Danish parliament published Proposal L 204 on a law amending the Act on preventive measures against money laundering and terrorist financing (Money Laundering Act) and the...
On May 3, 2019, the Isle of Man Financial Services Authority published an updated version of its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Handbook....
On May 2, 2019, the State Financial Monitoring Service of Ukraine (SFMS) published its annual report for 2018, which takes a look at the work the authority has carried out in the previous year with...
The central banks of Singapore and Canada have settled reciprocal payments using distributed ledger technology (DLT), the first such successful effort between two central banks, although they have...
On May 2, 2019, the Bank of Canada and the Monetary Authority of Singapore (MAS) jointly published a report titled “Jasper-Ubin Design Paper: Enabling Cross-Border High Value Transfer Using...
Small banks and credit unions in the United States have been given cause for hope, after the top consumer protection regulator said it was open to amending rules on remittances that have long been...
On April 30, 2019, the State Administration of Foreign Exchange (SAFE) issued “Notice of Measures Administering Foreign Exchange Business of Payment Institutions”. The measures are addressed to...
The U.S. Federal Reserve has identified shortcomings in the anti-money laundering controls (AML) at the New York branch of Sumitomo Mitsui Banking Corporation and is ordering the Tokyo-based bank...
On April 24, 2019, the European Banking Authority (EBA) published an opinion on the nature of passport notifications of payment institutions and electronic money institutions using agents and...
The EU’s top payments regulator has stepped into a row between member states over supervision of firms passporting across national borders, taking a relatively tough stance on the controversial...
North Korea appears to be stepping up efforts to circumvent sanctions by performing an end-run around the banking sector, instead using cryptocurrency to raise funds and make purchases, researchers...
Pakistan has stepped up its efforts to be scratched off the Financial Action Task Force’s (FATF) list of problem jurisdictions with the high-profile publication of new measures to implement United...
China has come under heavy fire in its latest evaluation by the Financial Action Task Force (FATF), with the world’s second largest economy drawing criticism for its failure to manage terrorist and...

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