David Chenkin of US-based lawfirm Zeichner Ellman & Krause speaks to Tom Devlin about his work. Read More
28th October 2016
The revised licensing conditions and codes of practice (LCCP) will require gambling operators to “conduct an [appropriate] assessment of the risks of their business being used for money laundering and terrorist financing” and then implement “appropriate policies, procedures and controls to prevent money laundering and terrorist financing”. The new licensing provisions… Read More
25th October 2016
The Czech central bank authorities have withdrawn the license of the Russian ERB Bank, citing violations of exposure rules relating to bond investments, poor risk management and lack of controls. The central bank  submit a court proposal for naming a liquidator of ERB. ERB Bank is believed to have been involved in… Read More
25th October 2016
The Financial Action Task Force (FATF) has urged members to shut down overseas North Korean bank branches and to sever financial ties with the North, South Korea’s Financial Supervisory Service (FSS) announced on Tuesday. The FATF, an intergovernmental body combating money laundering and terrorist financing, “strongly demanded” that members blockade… Read More
25th October 2016
Plans to bring virtual currency exchanges and digital wallet providers within the scope of EU anti-money laundering (AML) legislation have been backed by the European Central Bank (ECB). he ECB said it “strongly supports” the proposals to extend the Fourth Anti-Money Laundering Directive (AMLD4), noting that “terrorists and other criminal… Read More
21st October 2016
The U.S. Treasury moved to disrupt the fundraising and operation of the Iranian-backed Hezbollah group on Thursday, imposing sanctions on four operatives and a firm that have assisted the organization, long seen as a terrorist outfit by Washington. In a related action, the U.S. State Department sanctioned Hezbollah commander Haytham… Read More
19th October 2016
The Commission has today issued an FAQ for legal professionals as a result of the recent changes to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999. The FAQ has been created to assist legal professionals in determining whether or not a particular service they offer is within… Read More
19th October 2016
The UK Gambling Commission (UKGC) will this month make a number of amendments to its licence conditions and codes of practice (LCCP) in a move to help prevent gambling-related crime. Due to come into effect from October 31, changes include the requirement for all licensees to report criminal investigations they… Read More
19th October 2016
Over the past few years there has been a significant rise in the reporting of suspicious matters and suspect transactions in reference to financial crime in Australia, according to the latest research. The Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia’s anti-money laundering and counter-terrorism financing regulator, revealed that in… Read More
18th October 2016
The Angolan banks must adhere the rules and best practices applied internationally so that the country may not be put aside the international system, said on Monday the coordinating director of the Angolan Commercial Bank (BCA), Hernani Cambinda. Speaking to Angop during the opening speech of… Read More