19th May 2020
By Anastasia Austin, InSight Crime, 18 May 2020 InSight Crime — The European Union’s latest money laundering blacklist included four Caribbean nations that have been deemed to be high-risk countries. The list was met by cries of unfairness from officials, but why were these countries added in the first place… Read More
18th May 2020
The draft law on anti-money laundering and combating the financing of terrorism (AML/CFT) has been approved at a Council of Ministers meeting chaired by Prime Minister Hun Sen. The law is designed to guarantee against AML/CFT by identifying measures to prevent it, crack down on it and combat such activities… Read More
18th May 2020
The European Commission launched legal actions on Thursday against Luxembourg over laws to prevent money laundering and tax avoidance, it said in a statement. New EU rules to step up scrutiny of financial assets controlled by politicians and companies’ owners were approved in May 2018 in an effort to clamp… Read More
15th May 2020
The European Commission says that Estonia has not fully implemented the European Union Fourth Anti-Money Laundering Directive (4MLD). The commission sent a letter of formal notice to Estonia Thursday, stating that Estonia, in the commission’s opinion, has not correctly transposed the 4MLD, which concerns the misuse of a member state’s… Read More
15th May 2020
The Trump administration on Thursday issued guidelines to help ship owners and insurers avoid the risks of sanctions penalties, standards that maritime players and a senior State Department official said were modified following months of discussions with industry. The guidelines, known as a Global Maritime Advisory, concern sanctions on Iran,… Read More
14th May 2020
The European Commission is hell-bent on creating a watchdog to enforce the bloc’s anti-money laundering rules. But skeptics fear it won’t have much bite. Executive Vice President Valdis Dombrovskis sounded a rallying call for a European authority last week as the Brussels executive launched an action plan for tackling… Read More
14th May 2020
Venezuela’s opposition-held congress plans to voice concern to the U.S. government over its removal of sanctions on Swedish refiner Nynas AB after Venezuela’s state-run oil company, Petroleos de Venezuela, sold most of its stake in the firm, three people with knowledge of the matter said. Nynas said on Tuesday that… Read More
12th May 2020
The EU’s banking watchdog should have barred its former executive director from taking a position as the chief executive of a financial lobbying group, the European Ombudsman Emily O’Reilly ruled on Monday. O’Reilly said in the ruling that the European Banking Authority (EBA) should have vetoed Adam Farkas’ move earlier… Read More
12th May 2020
A new specialised team of international experts has been set up by the financial regulator to combat money laundering, handling 25 new cases last year. In the Malta Financial Services Authority’s 2019 annual report, chief executive Joseph Cuschieri said the team was established to improve oversight of firms’ anti-money laundering and… Read More
12th May 2020
More U.S. banks and credit unions will be allowed to estimate the international remittance fees they charge consumers in instances when it may be too expensive to provide exact figures under a new rule issued on Monday. The Consumer Financial Protection Bureau (CFPB) said the measure raises the transaction threshold… Read More