The European Commission has presented an ambitious package of four legislative proposals to strengthen the European Union’s (EU’s) anti-money laundering and counter financing of terrorism (AML/CFT) rules, which includes the creation of a new EU authority to fight money laundering (Trade-based Financial… Read More ›
A new European Union (EU) authority to fight money laundering will likely oversee the establishment of EU-level anti-money laundering and counter financing of terrorism (AML/CFT) supervision if a package of four legislative proposals to strengthen the union’s (AML/CFT) rules is… Read More ›
The European Commission presented yesterday a package of four legislative proposals to strengthen the European Union’s (EU’s) anti-money laundering and counter financing of terrorism (AML/CFT) rules. The package includes a proposal for the creation of a new EU authority to fight money… Read More ›
Traders in precious stones and metals, works of art, and businesses storing, trading or acting as intermediaries in the trade of works of art in free zones or customs warehouses are specifically contemplated in proposals disclosed yesterday by the European… Read More ›
G7 finance ministers have agreed to implement and strengthen registries of company beneficial ownership information in their respective jurisdictions. The UK says this a major step forward in global efforts to tackle illicit finance and will also boost the country’s… Read More ›
Despite European Union (EU) provisions stressing the importance of granting public access to beneficial ownership information, access to that data may be restricted, even in member countries that have public central registers in place according to a new report published… Read More ›
Spanish authorities have unearthed a suspected trade-based money laundering (TBML) operation in which a criminal network adulterated highly priced saffron to launder millions of euros. The network falsified documents to pass off the saffron they sold as a high-grade version… Read More ›
The UK has named 21 high-risk countries in the first anti-money laundering and combatting the financing of terrorism (AML/CFT) regulations framed by the country since Brexit when it withdrew from the EU. The new regulations naming the high-risk countries, which… Read More ›