14th August 2017
Malta’s Minister of Finance failed to answer The Malta Independent’s questions on why it has not transposed the latest EU anti money laundering directive into law. The EU Commission some weeks ago penned a letter to the government asking why it failed to transpose the fourth anti-money laundering directive –… Read More
11th August 2017
The Philippines has been removed from an international money laundering watch list after enacting a law that brings the nation’s casinos within the scope of the country’s Anti-Money Laundering Act, said the Anti-Money Laundering Council (AMLC) in a press release. According to the announcement, the decision to remove the Philippines… Read More
4th August 2017
The multinational tax crackdown announced yesterday is a remarkable evolution of government thinking. This metamorphosis encompasses both whether the problem of corporate tax avoidance was a problem at all, and also if it could be effectively tackled. Read More
3rd August 2017
Parliament has unanimously passed reforms to strengthen the existing Anti-Money Laundering and Countering Financing of Terrorism Act 2009, says Justice Minister Amy Adams. “Money laundering and the financing of terrorism is a global issue with serious consequences. It is blight on society that undermines the hard work of legitimate businesses… Read More
1st August 2017
In June this year, the Market Supervision Commission of the Shenzhen Municipality published an instructive standard document named Anti-bribery Management System Shenzhen Standard to help companies and other organizations prevent bribery, and detect and deal with any bribery that does occur. Carved from ISO 37001, the Anti-bribery Management System Shenzhen… Read More
28th July 2017
The Bank of South Sudan on Thursday announced new monetary policies that seek to avert soaring inflation, regulate trading in foreign currency and combat money laundering and financial crime. Central Bank Governor Othom Rago Ajak told reporters that the bank is implementing major financial sector reform strategies it developed in… Read More
28th July 2017
New Canadian banking rules that took effect July 1 are a “game changer” that could help governments in Victoria and Ottawa fight real estate tax scams exploited by foreign buyers, says a prominent B.C. immigration lawyer. As of July 1, Canadian banks must confirm detailed information on non-resident clients —… Read More
27th July 2017
The Monetary Authority of Singapore (MAS) has intensified efforts to stamp out money laundering and terrorism financing, but more could still be done, assistant managing director Chua Kim Leng said on Thursday (July 27). Mr Chua told a financial crime seminar organised by the Association of Banks in Singapore that… Read More
26th July 2017
The finance ministry is gearing up to introduce a host of Bills, including the Banking Regulation (Amendment) Bill, repeal of State Bank of India(Subsidiary Banks) Act, 1959, among others, in the upcoming Monsoon Session. Besides, it is working on the Banning of Unregulated Deposit Schemes and Protection of Depositors Interests… Read More
26th July 2017
The Financial Conduct Authority (FCA) has today published proposals to extend the SM&CR to almost all regulated firms. The new regime will essentially replace the Approved Persons Regime. The aim of the new regime is to reduce harm to consumers and strengthen market integrity by making individuals more accountable for… Read More