Conducting business in the EU? Does your risk mitigation strategy address the anti-money laundering regulations established by the 4AMLD and 5AMLD? Get tips for AML due diligence.
What constitutes a PEP? Why PEPs can pose a risk of money laundering? The new guidance from the FCA advises on how companies should manage this risk to meet their AML requirements.
Transparency International says national anti-money laundering laws have “a long way to go” to meet the global standards, with beneficial ownership being the “weakest link” in global financial systems. Read our latest blog post on why AML investment is “good business sense”.
We’ve done the research so you don’t have to and answered the key questions about the EU 4AMLD. Read on to receive insights into a risk-based approach, customer due diligence, on-going monitoring and beneficial ownership.
As of June 2017, all member states will have to prove that their gambling sector is at low risk of laundering before being exempt. In advance of the Fourth AML Directive, all casinos will have to adhere to their employer's rules on procedures around customer due diligence.
23 January 2017 - Posted by Mark Dunn in Anti-Bribery And Corruption, Anti-Money Laundering
This week, LexisNexis is considering how the FCA recently introduced some of the key themes arising from briefings, regional visits, discussion forums and online feedback and how their 'Future Mission' encourages a due diligence process for UK firms.
24 November 2016 - Posted by Mark Dunn in Anti-Bribery And Corruption, Anti-Money Laundering
In the UK’s first DPA, in November 2015, Standard Bank paid $33 million. In the second DPA, agreed in July 2016, an anonymous company paid more than £6.5 million. These cases highlight the UK’s distinctive approach to DPAs which seems to have provided a more attractive model for countries to consider.
10 November 2016 - Posted by in Anti-Bribery And Corruption, Anti-Money Laundering
The Financial Action Task Force (FATF) has published proposals on how to improve the implementation of international standards on transparency, including the availability of beneficial ownership information.
While money from illegal activities is a primary source of revenue for terrorist organisations, detecting and disrupting the financing of terrorist networks is complex. On 5 July 2016, the EU Commission proposed amendments to the Fourth Anti-Money Laundering Directive that aim to improve oversight over many of the financial methods used by terrorists.
23 September 2016 - Posted by Sam Hemmant in Anti-Bribery And Corruption, Anti-Money Laundering
3rd October 2016 marks six months since the leak of 11.5 million documents from the Panama-based law firm Mossack Fonseca, so what’s changed? Register for our free webinar to learn how to manage beneficial ownership risk when dealing with complex corporate ownership structures.