- Home/Publications/Money Laundering Bulletin
Latvia not facing up to ML risk, MONEYVAL finds
Latvia needs to work on many fronts to strengthen its anti-money laundering and counter terrorist financing regime, MONEYVAL reports following a fifth round mutual evaluation of the country. [1]As a regional financial hub, the major fund flows..
Online Published Date:
29 August 2018
Appeared in issue:
257 - 01 October 2018
Switzerland looks to relax AML rules for FinTechs
Small Swiss FinTech firms will be subject to less onerous anti-money laundering regulation than established financial institutions if proposals by FINMA, the local financial services regulator, are approved.On 28 August, FINMA launched a..
Online Published Date:
29 August 2018
Appeared in issue:
257 - 01 October 2018
SocGen set to settle over US sanctions violations
French
banking group Société Générale said yesterday [3 September] that it expects “within
the coming weeks” to reach a settlement with US authorities over allegations
that it processed dollar transactions involving..
Online Published Date:
04 September 2018
Appeared in issue:
257 - 01 October 2018
Danske Bank Estonian branch handled up to US$30bn foreign transactions in year, consultant finds
Up to US$30 billion of “Russian and ex-Soviet” funds flowed through the Estonian branch of Danske Bank in one year, according to independent findings, the Financial Times reports.The sum, for 2013, is mentioned in a draft report by..
Online Published Date:
04 September 2018
Appeared in issue:
257 - 01 October 2018
Fiscal frontier – towards tax evasion detection
Monique van Herksen (+31 20 722 2325, monique.vanherksen@simmons-simmons.com) and Hatice Ismail (+44 20 7825 3977, hatice.ismail@simmons-simmons.com) work in the Financial Markets Practice Group of Simmons & Simmons LLP with a focus on tax, transfer pricing and reporting requirements.
Online Published Date:
13 September 2018
Appeared in issue:
257 - 01 October 2018
ING pays €775m in Netherlands to settle charges of failed compliance and “culpable money laundering”
ING Bank N.V. will pay €775m to the Dutch state after reaching agreement with the Netherlands Public Prosecution Service (NPPS), which found that its clients “were able to use accounts… for criminal activities for many years,..
Online Published Date:
13 September 2018
Appeared in issue:
257 - 01 October 2018
Israel FIU seeks to consolidate and clarify AML/CFT legislation
By Joe Charlaff, in Jerusalem
Online Published Date:
13 September 2018
Appeared in issue:
257 - 01 October 2018
European Banking Authority could enforce against firms for AML breaches, Commission proposes
The European Banking Authority (EBA), which oversees banking supervision in the European Union, will be given specific lead responsibility to ensure money laundering and terrorist financing risks faced by financial institutions are properly..
Online Published Date:
13 September 2018
Appeared in issue:
257 - 01 October 2018
Keep calm and carry on launderING
The writer is an AML professional working in the City of London.
Online Published Date:
13 September 2018
Appeared in issue:
257 - 01 October 2018
MEPs approve EU ML criminalisation reforms
By Keith Nuthall
Online Published Date:
14 September 2018
Appeared in issue:
257 - 01 October 2018
Danske Bank passed €200bn for suspicious non-residents through Estonia branch, CEO resigns
Thomas Borgen, Danske Bank’s chief executive resigned today [19 September] with publication of a report that €200 billion in 9.5 million transactions from around 15,000 non-resident customers flowed through the bank’s Estonian branch between 2007..
Online Published Date:
19 September 2018
Appeared in issue:
257 - 01 October 2018
Tomorrow’s world of AML
Susan Grossey may be
contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com,
www.thinkingaboutcrime.com
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018
ICOs: preparing for take-off
Money for nothing or a major step forwardin capital-raising, initial coin offerings are central to the growth of
crypto-assets and demand close scrutiny, says David Carlisle.The topic of cryptocurrencies (or
crypto-assets, as they are frequently..
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018
Less is more: AI tackles false positives
Determined to reduce the current hugecost of sifting out false positives from transaction monitoring alerts,
financial institutions are starting to realise the benefits of artificial
intelligence and machine learning models, reports Sarah Gibbons...
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018
Going south - Venezuela
Venezuela’s political elite are undergrowing pressure as the economy tailspins and hyper-inflation locks on
following May’s election, widely regarded as unfair. Sanctions, principally
imposed by the United States, may yet bring about regime change...
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018
Clone Wars: how RegTech can help you stand out from the crowd
Adrian Black is CEO of NorthRow (www.northrow.com)
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018
Law enforcement - East Africa
Kenya, Tanzania and Uganda have tightened up their illicit financing regimes, on paper, but ink needs to be matched by action. Ramadhan Rajab, in Nairobi, is outcome-focused.KenyaIn Kenya, a Proceeds of Crime and Anti-Money Laundering (Amendment)..
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018
Step by step – AI into AML
Compliance costescalation, notably around customer due diligence and alert management, is
driving exploration of how advances in computing might yield efficiency gains
while not compromising or, still better, enhancing existing AML productivity...
Online Published Date:
20 September 2018
Appeared in issue:
257 - 01 October 2018