Brexit Countdown: The impact on AML!

The European Commission’s fifth Anti-Money Laundering Directive entered into force on 9 July 2018 and Member States have until 10 January 2020 to transpose the majority of its provisions. Its main aim is to establish a centralised public register of companies and...

Effective staff training is vital to ensuring a successful AML framework but regional inconsistencies exisit.

The financial services industry worldwide is challenged to respond to increased and a changing regulatory AML landscape. AML as a standalone entity under compliance, to a complex and much broader function cutting across many entities as legal, risk, operations, sales...

European Commission strengthens rules to tackle terrorism financing, tax avoidance and money laundering

On 5 July 2016, the European Commission (the “Commission”), adopted proposals to further reinforce EU rules on anti-money laundering, counter terrorist financing and increase transparency of ownership for both companies and trusts. According to the Commission, this...

Money laundering: Trade patents, a new tool for bringing back unaccounted wealth

"People who own patents in India are suddenly in demand - in many cases not because of the value of their inventions that may be worthless, but as a conduit to launder money. There have been many cases in recent months where patent owners made millions by selling...

Combating Money Laundering with Artificial Intelligence: Game changer or Hype

The cost of money laundering and other forms of financial crime are critical to a bank’s future. Germany’s troubled Deutsche Bank faces fines, legal action and the possible prosecution of senior management because of its alleged role in a $20bn Russian...
The Global Laundromat

The Global Laundromat

Transparency campaigners dismayed at clean bill of health for UK government On Friday, 7 December the Financial Action Task Force (FATF), a G7...

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