26th June 2019
Tanzania has tightened its currency controls with new regulations on foreign exchange bureaus, in what authorities say is an ongoing fight against money laundering and currency speculation. The new rules, published Monday by the central bank, come months after the government revoked the licences of around 100 bureaus and temporarily… Read More
25th June 2019
U.S. President Donald Trump imposed new U.S. sanctions on Iran on Monday following Tehran’s downing of an unmanned American drone and said the measures would target Iranian Supreme Leader Ayatollah Ali Khamenei. Trump told reporters he was signing an executive order for the sanctions amid tensions between the United States… Read More
25th June 2019
Banks in Estonia have not yet plugged all the gaps in their money laundering controls, the Baltic state’s regulator told Reuters, pledging to maintain a clampdown in the country at the center of one of Europe’s biggest financial scandals. Estonia’s efforts to tighten money laundering controls at its banks follows… Read More
24th June 2019
Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on Friday, the first worldwide regulatory attempt to constrain the rapidly growing sector. Financial Action Task Force (FATF), set up 30 years ago to tackle money… Read More
24th June 2019
The United Arab Emirates Central Bank is focusing on the real estate sector as part of its work to combat money laundering in the country, an official said on Sunday. The UAE has been tightening its financial regulations to fight the perception among some foreign investors that it is a… Read More
24th June 2019
Saudi Arabia has been granted full membership of the Financial Action Task Force (FATF), a global body dedicated to fighting illicit money flows, Saudi Arabia’s monetary authority said on Friday. The kingdom had been previously denied membership after not meeting criteria in anti-money laundering and counter terrorism financing, and its… Read More
24th June 2019
Three European central bankers are claiming oversight over Facebook’s planned virtual currency to ensure it will not jeopardize the financial system or be used to launder money. Facebook drew worldwide interest this week when it announced plans to introduce a cryptocurrency called Libra, part of an effort to expand into… Read More
24th June 2019
The Russian Federation removed identifying information for Crimean companies from its public corporate register on Tuesday, drawing criticism from anti-corruption advocates, the Organized Crime and Corruption Reporting Project (OCCRP) said. The deletions include the names of all domestic and foreign investors and business owners in the region, which Russia formally… Read More
21st June 2019
Cryptocurrencies such as bitcoin are set to be subjected to rules to prevent their abuse for money laundering, a global watchdog will announce on Friday, the first worldwide regulatory attempt to constrain the rapidly growing sector. The Paris-based Financial Action Task Force (FATF), a coalition of countries from the United… Read More
21st June 2019
Britain’s financial regulator, responding to calls by lawmakers to make it easier to open a bank account, said there was no need for banks to ease existing rules. Parliament’s Treasury Select Committee published several recommendations in May on improving access to financial services, including requiring banks to relax their restrictions… Read More