As U.S. Cracks Down on Iran’s Oil Sales, It Calls Out an Ally
9th September 2019
As U.S. Cracks Down on Iran’s Oil Sales, It Calls Out an Ally
On a scorching June day, a senior U.S. official arrived in the United Arab Emirates with a clear message: The Trump administration intended to tighten the screws on Iran through sanctions targeting its oil sales. “We are going to increase our sanctions on Iran and continue our foreign policy,” Brian… Read More
NZ and Australia plan to lower remittances costs in Pacific
9th September 2019
NZ and Australia plan to lower remittances costs in Pacific
New Zealand is in talks with Australia to lower hefty money transfer fees in several Pacific Island countries, as “stubbornly high” costs strain the region’s economies and hamper UN targets. Remittances are a key source of earnings for many Pacific families who have relatives working abroad and the intervention comes… Read More
EBA Chair Calls for More EU Action on Money Laundering
9th September 2019
EBA Chair Calls for More EU Action on Money Laundering
The European Union must either centralise its anti-money laundering (AML) and counterterrorist financing (CFT) supervision or take further “evolutionary” steps if it is to fight financial crime effectively, an official said Thursday.  In remarks delivered to the Economic and Monetary Affairs Committee, European Banking Authority (EBA) Chairman Jose… Read More
Singapore Launches Trade-Data Platform for AML Compliance
6th September 2019
Singapore Launches Trade-Data Platform for AML Compliance
Singaporean authorities disclosed the launch of a new e-service platform Thursday that is intended to help bank compliance teams identify discrepancies in trade-finance data.  Banks can use the Trade Finance Compliance (TFC) service, which hosts data obtained from permits issued by Singapore Customs, to conduct anti-money laundering (AML) compliance… Read More
Ukraine central bank sounds alarm over threats to officials after car blaze
6th September 2019
Ukraine central bank sounds alarm over threats to officials after car blaze
Ukraine’s central bank said the torching of a vehicle owned by the family of its former governor, Valeria Gontareva, was evidence of “psychological and physical pressure” being exerted on her, days after Gontareva herself was hit by a car in London. In a statement on Thursday, the National Bank of… Read More
Mastercard halts service at 2 Venezuelan banks in sanctions
6th September 2019
Mastercard halts service at 2 Venezuelan banks in sanctions
AP — U.S.-based Mastercard has suspended its services to two Venezuelan banks under sanctions aimed at forcing President Nicolás Maduro from power in the crisis-stricken South American nation, the banks said. Limiting business with the relatively small financial institutions in Venezuela could foreshadow broader obstacles to come in… Read More
U.S. Imposes Sanctions on Iranian Shipping Network
5th September 2019
U.S. Imposes Sanctions on Iranian Shipping Network
The Trump administration on Wednesday imposed sanctions on an elaborate shipping network that Iran uses to sell oil, and unveiled a $15 million reward to anyone with information that disrupts the scheme, stepping up its effort to exert pressure on the Iranian economy. The sanctions were the latest in a… Read More
FATF: Hong Kong Partially Compliant on PEPs, Beneficial Ownership
5th September 2019
FATF: Hong Kong Partially Compliant on PEPs, Beneficial Ownership
The government of Hong Kong should strengthen its oversight of politically exposed persons (PEPs) and improve its beneficial ownership laws, a financial crime watchdog group said.  In a mutual evaluation report published Wednesday, the Paris-based Financial Action Task Force (FATF) found the Chinese special administrative region partly compliant with… Read More
New company ownership register hit by a raft of early filing errors
5th September 2019
New company ownership register hit by a raft of early filing errors
People using names in their Irish version instead of English, maiden instead of married names, and shortened versions of first names are just a few of the reasons why the Companies Registration Office says it has rejected submissions to the new Register of Beneficial Ownership (RBO). The register, which gives… Read More
Some Mexican Regulators Carry Their Resignation Letters at All Times
5th September 2019
Some Mexican Regulators Carry Their Resignation Letters at All Times
Mexico’s banking and securities regulator has already been hobbled by hundreds of resignations after the country’s new president slashed salaries and benefits. Now, one of his prospective laws threatens to set off an exodus of the agency’s top officials. The legislature is set this month to enact strict curbs… Read More
Popular

Luxembourg Falls Further Behind EU AML Rules As Companies Fail To Disclose Ownership

New U.S. Powers Help Target Terrorist Financing, Treasury Official Says

Commerzbank Frankfurt Offices Raided in Widening Tax Scandal

Maduro Regime Is Moving Money Through Spain’s Central Bank

British banks seek tweaks to accountability rules

Must Read

Luxembourg Falls Further Behind EU AML Rules As Companies Fail To Disclose Ownership

HMRC faces legal fight for handing Britons’ data to US tax officials

Moneyval: Malta must step up investigation and prosecution of money laundering

San Marino seizes $19m from Congo dictator who spent $100,000 on crocodile shoes

Russia carries out mass raids on Kremlin critic Navalny’s supporters