Money laundering has been an issue for quite some time and even with advancement in technology over recent years such as the introduction of cryptocurrencies, like Bitcoin, money laundering still continues to be a prevalent issue every year, with 2018… Read more >
With the implementation of the European Union’s (EU) Fourth Anti-Money Laundering Directive (AMLD4), which included an emphasis on enhanced customer due diligence (CDD), an inclusion of the gambling sector, and enhanced risk-based approach technology, all member states were required to… Read more >
Denmark’s largest bank, Danske Bank, is under fire once again after being accused of helping launder $8.3 billion through it’s Estonian branch. In 2017, Denmark’s daily newspaper, Berlingske, reported that Danske was responsible for laundering $3.9 billion into Denmark from… Read more >
The European Union’s (EU) Fifth Anti-Money Laundering (AMLD5) became binding recently on Monday, July 9 and even after two years of reforming the anti-money laundering (AML) provisions and regulations, the new directive still faces weaknesses and limitations in preventing illicit… Read more >
On June 19, 2018, the Official Journal of the European Union (EU) published the Fifth Anti-Money Laundering Directive (5MLD) that includes amendments to resolve issues within the existing Fourth Anti-Money Laundering Directive (4MLD), including terrorist financing, tax leaks and the… Read more >
Recently, Tunisia was added to the European Union’s “blacklist” which is reserved for countries that are believed to be held at high risk for money laundering and terrorism financing. Put together by the European Commission, this list includes countries that… Read more >
In an effort to combat money laundering, the Bulgarian Parliament is in the process of passing the Measures Against Money Laundering Directive Act (the “Bill”) as ordered by the European Union’s 4th Anti-Money Laundering Directive (4th AMLD). The Bill, which… Read more >
In order to place the Fourth Anti-Money Laundering Directive (AMLD4) into the legal system, the Croatian Parliament passed the Money Laundering and Terrorist Financing Prevention Act on October 27, 2017. One main component of this act is the addition of… Read more >
Although all EU countries should have implemented the EU’s Fourth Anti-Money Laundering Directive (AMLD4) by June 2017, the European Commission is investigating 17 countries which did not put the newest directive into action on time. Ireland is one of these… Read more >
Professionals across all industries and sectors must familiarize themselves with the Money Laundering Regulations 2017 (MLR2017) which has introduced a variety of new provisions to replace and expand the requirements of the existing Money Laundering Regulations 2007 (MLR2007). This newest… Read more >