On July 19, 2019, the Dutch Ministry of Finance published a consultation on draft law amendments to the Money Laundering Prevention and Financing of Terrorism Act (Wwft BES). ...
The 4th Anti-Money Laundering Directive (Directive (EU) 2015/849), also known as the 4th AMLD, has brought in a set of obligations for the European Commission, European supervisory authorities ...
A report compiled for finance ministers of the world’s largest economies has taken a strict line on Facebook’s mooted Libra payment system, warning that “significant work” will be needed before any...
The long-smoldering issue of legal cannabis businesses lacking access to banking and payment services will take center stage in a key Senate committee hearing next week, the scheduling of which...
The government of Romania is consulting on the draft law on preventing and combating money laundering and terrorism financing, which will transpose the 4th Anti-Money Laundering Directive (4th AMLD...
On July 18, 2019, the UK government published its response to the joint committee’s report on the draft Registration of Overseas Entities Bill, which was introduced in July 2018. The aim of the...
The UK’s Financial Conduct Authority (FCA) has admitted its register of regulated firms contains “data quality issues” and will invest £5m in improvements, after outrage that legitimate businesses...
U.S. lawmakers have raised concerns that the structure of Facebook's controversial Libra cryptocurrency could make it highly attractive to criminals, calling into question whether checks by wallet...
The U.S. government’s sanctions watchdog is believed to be investigating cases where cryptocurrencies have been used to skirt sanctions controls, with enforcement action tipped to be on the way.
Latvian authorities have handed a €1m fine to Rigensis Bank for violating an array of financial crime laws, the latest direct action taken by the country as it seeks to implement a suite of...
A key architect of Facebook’s digital currency project, Libra, has attempted to reassure lawmakers that Libra will not be launched until regulators are happy user data is protected, the risk of...
On July 16, 2019, the Bank of Lithuania announced that it is seeking an innovative solution to the mandatory reporting scheme, under which all participants in the Lithuanian financial market are...
On July 12, 2019, the Egmont Group, a global body comprising 164 financial intelligence units (FIUs), released the summaries of two reports prepared by the Egmont Information Exchange Working Group...
A lawyer who slapped a suit on Société Générale over its processing of payments for Cuba’s state bank has said further action against European and Canadian financial institutions is imminent...
With Facebook scheduled to appear before U.S. Congress this week to make the case for its cryptocurrency project Libra, the social media giant faces an uphill struggle to convince wary legislators...
A foreign exchange and payment service provider has lost its bid to claim damages from Royal Bank of Scotland (RBS), after the UK lender terminated its business accounts on suspicion they were...

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