New European Parliamentary research has outlined the bloc’s new system of blacklisting countries considered to be non-cooperative jurisdictions on tax matters, and explains some of the thinking behind the listing of tax havens. Although there is ‘no single definition of a tax haven,’ there are a number of commonalities in… Read More
London, saddled with the label of the “World’s Capital for Money Laundering,” seems to have stumbled in its war against financial crime. A scheme it touted as some kind of “world first” to combat money laundering and other financial crime seems to have some loopholes which are worrisome if not… Read More
President Trump’s decision to withdraw the United States from the Joint Comprehensive Plan of Action (JCPOA) lights the fuse on the sanctions suspended under President Obama in 2015. It was not exactly unexpected, however. Trump made doing away with the deal, which relaxed sanctions against Iran in exchange for significant… Read More
With the Fifth Anti-Money Laundering Directive (5AMLD) now endorsed by the European Union , the thoughts of the United Kingdom government and the governments of all the other 27 Member States will turn to converting it into national law through their domestic legislative procedures. The UK has played a key… Read More
One would think Barclays has had a rocky start to the year, judging by events in recent weeks. On the surface, the combination of a $2 billion fine from the US Department of Justice (DoJ), fines over CEO Jes Staley’s pursuit of a whistleblower and a Q1 earnings loss does… Read More
AP — It’s not as simple as just saying “we’re out” of the Iran nuclear deal. If President Donald Trump follows through on his threat to pull the U.S. out of the Iran nuclear deal on May 12, the rest of the world will be thrust into uncharted… Read More
Susan Grossey has been making her living from crime for over twenty years. She provides anti-money laundering training and advice to the regulated community in the UK, Guernsey, Jersey, the Isle of Man and Gibraltar, and writes and talks on the subject at every opportunity. As her hobby she… Read More
By Raisa Ostapenko Nearly 130 years ago, George Eastman founded the Eastman Kodak Company – or Kodak, as most people know it today – and with it revolutionised and democratised the art of photography. It was Eastman’s company that gave the once abstruse, almost elitist craft, in which every image… Read More
The rapid adoption of biometric technology by the financial sector is likely to drive profound changes in anti-money laundering and counter-terrorism financing (AML/CTF) efforts. As biometric technology becomes more reliable, more affordable and more accessible, it is becoming increasingly appealing to financial institutions and regulators alike… Read More
Last April, a Maltese journalist published stories saying a private bank on her island was serving high-ranking customers in Azerbaijan, and alleging it was processing corrupt payments. Six months later the journalist, Daphne Caruana Galizia, was murdered. Many of her claims, including the one about corrupt payments, remain unproven. Read More