Will coronavirus hasten arrival of fully remote bank exams?
4th May 2020
Will coronavirus hasten arrival of fully remote bank exams?
As bank regulators have moved their examination process off-site in the midst of the coronavirus pandemic, a debate is unfolding about whether remote supervision should be the way of the future. Off-site monitoring and electronic exchange of documents and data were already key components of exams. And before the virus… Read More
U.S. sanctions Iranian-Iraqi businessman over support of Iran’s Quds Force
4th May 2020
U.S. sanctions Iranian-Iraqi businessman over support of Iran’s Quds Force
The United States on Friday imposed sanctions on an Iranian-Iraqi businessman and his mining company, accusing him of involvement in efforts by Iran’s elite Quds Force to generate revenue illegally and smuggle weapons abroad, the U.S. Treasury Department said. Amir Dianat has supported Quds Force smuggling operations for years, including… Read More
Central Bank of Ireland faces calls to further delay new rules on online payments
4th May 2020
Central Bank of Ireland faces calls to further delay new rules on online payments
Pressure is mounting on the Central Bank of Ireland to further delay the enforcement of new EU regulations aimed at making online payments more secure. The Banking and Payments Federation of Ireland (BPFI) said it was worried about possible disruptions as online retailers upgrade their payments systems to comply… Read More
Hopes Fade for Ukraine Deal That Could Ease Russia Sanctions
1st May 2020
Hopes Fade for Ukraine Deal That Could Ease Russia Sanctions
Fragile hopes of ending the six-year conflict in Ukraine that might pave the way to an easing of European sanctions on Russia have evaporated as Moscow and Kyiv find themselves in renewed deadlock. Foreign ministers from Russia, Ukraine, Germany and France made virtually no progress on a video-conference Thursday as… Read More
UAE doing too little to stem money laundering and terrorist finance: FATF
1st May 2020
UAE doing too little to stem money laundering and terrorist finance: FATF
The United Arab Emirates is not doing enough to prevent money laundering despite recent progress, and causing concerns about its ability to combat financing of terrorism, the global dirty money monitoring group said on Thursday. The U.S.-allied Gulf state, which includes the region’s financial and commercial centre Dubai, will now… Read More
Armenia Introduces New Unexplained Wealth Law
30th April 2020
Armenia Introduces New Unexplained Wealth Law
By David Klein, OCCRP, 29 April 2020 OCCRP — A new law adopted by the Armenian parliament would allow prosecutors investigating unexplained wealth to petition courts in the country to take hold of any property worth more than US$100,000 and acquired after 1991, the year of the country’s foundation. Read More
Fear of fraud in UK state-backed loans for smaller companies
29th April 2020
Fear of fraud in UK state-backed loans for smaller companies
The government’s new loans for small businesses may fail to launch on Monday as planned because of legal problems and the need to create new digital systems, according to senior bankers. The “bounceback” scheme offering 100 per cent government-backed loans of up to £50,000 is expected to plug unmet… Read More
The Netherlands’ AMLD5 Interpretation Appears to Be Killing Crypto Firms
28th April 2020
The Netherlands’ AMLD5 Interpretation Appears to Be Killing Crypto Firms
The Dutch crypto market is seeing the first of most likely many small crypto exchanges get squeezed out following the passage of heavily criticized anti-money laundering (AMLD5) regulations. Announced Friday in a company blog, Bittr founder Ruben Waterman said his bitcoin exchange, launched in 2018, will shut down… Read More
EU pushes to ‘phase out’ citizenship schemes in three countries
24th April 2020
EU pushes to ‘phase out’ citizenship schemes in three countries
The European Commission is recommending a “phasing out” of Malta’s citizenship sale scheme, in a letter sent to the government. EU Justice Commissioner Didier Reynders confirmed during a European Parliament Civil Liberties and Justice committee debate on Thursday that the Commission had written to Malta, Bulgaria and Cyprus about transition… Read More
Switzerland’s record year for money laundering tip-offs
24th April 2020
Switzerland’s record year for money laundering tip-offs
The number of reports of suspected money laundering jumped by about 25% in Switzerland last year. According to the Federal Money Laundering Reporting Office, 7,705 reports were filed in 2019, compared to 6,126 the previous year. The office was able to process 4,074 of these reports last year, and… Read More
Popular

Will the e-money boom make the UK a hub of money laundering?

Deutsche Bank Fined $150 Million Over Epstein Red Flags

UK imposes sanctions against human rights abusers

Ireland: How criminals clean their dirty money

UK to impose sanctions independently for first time, targeting Russians and Saudis

Must Read

On the Periphery: Financial Crime Risks in Cryptocurrency Mining

Germany Probes Possible Money Laundering by Wirecard Executives

Dutch banks join forces in fight against money laundering

JPMorgan Dropped Accounts That Became Bad News for Deutsche Bank

U.S. sanctions highest ranking Chinese official yet over Uighur rights