Representatives of civil society, media and academia from across the Europe and beyond are lobbying European Union (EU) legislators to restore the right of individuals holding a legitimate interest to access Europe’s ultimate beneficial ownership (UBO) registers. Such individuals include… Read More ›
Banks in the European Union (EU) are amongst entities that may be required to verify their customers’ identity, what they own and who controls the company, under proposed new European anti-money laundering and counter financing of terrorism (AML/CFT) package approved… Read More ›
Diamond dealers, car traders, hairdressers and coffee shops are amongst businesses worst affected by financial institutions de-risking due to anti-money laundering and counter financing of terrorism (AML/CFT) rules according to a report published by the European Banking Authority (EBA). The… Read More ›
The European Commission (EC) has published Anti-Tax Avoidance Directive 3 (ATAD 3) laying down rules to prevent the misuse of shell entities for improper tax purposes throughout the European Union (EU). While the directive aims to clamp down on the… Read More ›
One of the UAE’s most prominent political figures has put his name to an extensive article outlining what appear to be substantial changes to the emirates’ anti-money laundering and counter financing of terrorism (AML/CFT) systems. In 2020 the Financial Action… 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 ›
Italian police have broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China according to the Reuters news agency. The report follows… Read More ›