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 >
In an effort to counter fraud, Portugal enacted a new UBO legislation (Law 89/2017) in August 2017 which lays down measures to combat money laundering and terrorist financing. Portugal is looking into options surrounding the management and recording of Ultimate… 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 >
The European Union is becoming more strict about enforcement of anti-money laundering (AML) laws and regulations utilizing its new directive (AMLD4) to manage risks of money laundering, crime organizations, and terrorism especially in areas of high vulnerability such as crowdfunding… Read more >