20th November 2018
The European Commission has been accused of being biased in its approach to tackling money laundering, with a former Maltese leader saying the body targets smaller banks while turning a blind eye on such crimes at bigger European banks. Alfred Sant singled European Commissioner for Justice Vera Jourova, saying she… Read More
19th November 2018
AP — British Prime Minister Theresa May fought back against critics of her Brexit deal Saturday, telling opponents from within her party their alternative plans for Britain’s departure from the European Union wouldn’t work. May is battling to win over rebels in her Conservative Party and… Read More
16th November 2018
European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday. EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more… Read More
16th November 2018
A special European Union initiative to protect trade with Iran against newly reimposed U.S. sanctions faces possible collapse with no EU country willing to host the operation for fear of provoking U.S. punishment, EU diplomats said. The main European powers – Germany, France and Britain – will raise pressure on… Read More
15th November 2018
Danske Bank’s (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing… Read More
14th November 2018
European Union governments have reached a preliminary deal to clamp down on money-laundering by strengthening bank supervision, but do not address key loopholes, documents show. A series of money-laundering cases at banks in several EU states have forced regulators to act after public outcry. The preliminary deal, which could… Read More
13th November 2018
AP — Brexit is already having an impact on Britain’s labor market, with the number of people from the European Union working in the country falling by a record amount. The Office for National Statistics said Tuesday the number of EU nationals working in Britain fell… Read More
12th November 2018
The European Commission has launched proceedings against the Isle of Man after its probe into the Paradise Papers uncovered widespread VAT evasion in the yacht and aviation industries in the bloc. The EU investigation was launched following the Paradise Papers exposé which showed – amongst other issues – that wealthy… Read More
9th November 2018
The European Commission has requested Malta’s Financial Intelligence Analysis Unit step up its supervision of the banking sector after an investigation revealed that Malta had failed to ensure banks comply with EU anti-money laundering (AML) rules. Malta has been under the spotlight over various scandals related to money laundering,… Read More
7th November 2018
The Council of the European Union has announced the adoption of a new set of rules that will provide authorities with broader powers and faster methods of seizing property off criminals. A key feature of the legislation is that is introduces a single set of asset freezing rules across the… Read More