Anti-Money Laundering and Combating the Financing of Terrorism

Latest Posts

British financial regulator warns about risks of investing in cryptocurrency derivatives

November 14, 2017

The British financial regulator, the Financial Conduct Authority (FCA), has today published a warning about the risks of investing in cryptocurrency Contracts for differences (CFDs)....

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Combating Impersonation risk via the new JMLSG

October 18, 2017

Up until now, the UK have allowed merchants to create a relatively frictionless on-boarding process using historic database data matching. As such, the use of...

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An Earthquake in the Swiss Alps – Swiss Regulator investigates several ICOs

September 29, 2017

Switzerland confirms that it is investigating a number of ICOs and is willing to take enforcement action. What started with the SEC’s statement on The...

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European watchdogs provide guidance to prevent terrorist financing and money laundering in electronic fund transfers

September 22, 2017

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today guidelines to prevent the abuse of funds transfers...

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Football’s Secret Trade or What happens when you don’t regulate a billion dollar industry

September 13, 2017

When the summer transfer window closed on 31st August across most European football leagues last week, the amount of money spent had reached another record:...

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Why blockchain regulation isn’t always a bad thing

July 8, 2017

More and more authorities review blockchain technology and consider regulatory measures. In general, most authorities have steered away for now in order to gain more...

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European Regulators publish AML/CFT guidelines

June 26, 2017

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today its final Guidelines on anti-money laundering and countering the financing...

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The ‘recency’ effect on online KYC processes

June 22, 2017

The coming wave of new Anti-Money Laundering regulations will bring significant changes to the existing regimes. In this sponsored post John Karantzis, founder and CEO of...

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Cryptocurrency KYC – A user experience

June 12, 2017

The value of Bitcoin has exploded over the last two months and today the cryptocurrency climbed for the first time over $3,000. Reason enough for...

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What Blockchain means for AML regulation (and viceversa)

May 29, 2017

Blockchain technology is going to transform the financial industry in the coming years. This is likely to cause regulatory change, in particular with regard to Anti-Money...

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FATF holds FinTech and RegTech Forum

May 25, 2017

The Financial Action Task Force (FATF) held a FinTech and RegTech Forum on 25-26 May 2017 in San Jose, United States, chaired by the President...

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SEC Charges Former Head Traders at Nomura With Fraud

May 15, 2017

The Securities and Exchange Commission today charged a pair of former head traders who ran the commercial mortgage-backed securities (CMBS) desk at Nomura Securities International...

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Blockchain use cases and practical examples in RegTech

May 12, 2017

Blockchain and RegTech are two of the hottest topics in Financial Services right now. Each of it is by itself already intriguing but applying blockchain...

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European Regulators consult on draft Guidelines to prevent terrorist financing and money laundering in electronic fund transfers

April 5, 2017

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation on draft Guidelines that set...

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European Regulators warn on money laundering and terrorist financing risks affecting the EU financial sector

February 21, 2017

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published a Joint Opinion addressed to the European Commission on the risks of money...

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ESAs consult on the establishment of central contact points to strengthen fight against financial crime

February 10, 2017

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation on draft regulatory technical standards...

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FCA fines Deutsche Bank £163 million for serious anti-money laundering controls failings

January 31, 2017

The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework...

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The Future of Compliance Jobs

January 26, 2017

What every Compliance professional has to consider now “I’ve seen the future of Compliance and it ‘s not looking good for my profession.” – Head...

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Why Blockchain isn’t the Silver Bullet for everything (yet)

November 24, 2016

There is no question that Distributed Ledger or Blockchain Technolgy is one of the hot topics in FinTech right now. Though the predictions vary depending...

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ESAs provide guidance on anti-money laundering and counter-terrorist financing supervision

November 16, 2016

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today its final Guidelines on the characteristics of a...

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Money Laundering Regulator to reach out to the FinTech / RegTech communities

October 31, 2016

As part of its plenary meeting earlier this months, the Financial Action Task Force (FATF) declared it would reach out to the FinTech / RegTech communities....

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FATF updates on Terrorist Financing in West and Central Africa

October 28, 2016

Today the Financial Action Task Force (FATF) published a report on Terrorist Financing in West and Central Africa. This joint FATF-GIABA-GABAC report reveals a number of terrorist financing...

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5 Top RegTechs in Monitoring

October 25, 2016

Monitoring is one of the natural fits for RegTech innovation. Transaction and client data is continuously increasing and automation is the only way to deal...

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FATF publishes Guidance on Correspondent Banking

October 21, 2016

Today the Financial Action Task Force (FATF) published Guidance on Correspondent Banking.  This guidance explains the FATF’s requirements in the context of correspondent banking services to manage,...

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FATF provides Guidance on Criminalising Terrorist Financing

October 21, 2016

Today the Financial Action Task Force (FATF) published Guidance on Criminalising Terrorist Financing. This Guidance paper on the criminalisation of terrorist financing will help countries implement each of...

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Blockchain in Financial Services – Compliance and Regulatory Challenges

September 30, 2016

The common consensus seems to be that it is not a question of if but rather when Blockchain technology will become mainstream in Financial Services....

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FATF asks Singapore to step up efforts in fight against money laundering and terrorist financing

September 27, 2016

The FATF and Asia/Pacific Group on Money Laundering (APG) conducted an assessment of Singapore’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012...

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5 Top RegTechs in Client and Counterparty Identification

September 12, 2016

RegTech has been praised as the key to help banks comply with their regulatory obligations while driving down costs that have exploded over the last...

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Compliance Going Digital – An interview about RegTech and what it takes to create a great product from a simple idea

September 2, 2016

  Regulatory Technology aka RegTech has been branded the new FinTech. It aims to help companies dealing with financial regulations and covers a wide range...

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EBA comments on Commission plan to bring virtual currency entities under AML Directive

August 11, 2016

In an Opinion issued today, the EBA welcomed the Commission's proposal to bring virtual currency exchange platforms and custodian wallet providers within the scope of...

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FCA advises on Financial Crime reporting

July 29, 2016

The FCA today issued Policy Statement "PS16/19: Financial Crime Reporting: feedback on Chapter 6 of CP15/42 and final rules". In this Policy Statement, the FCA reports on...

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AML country reports – An introduction to the FATF Mutual Evaluations

July 26, 2016

Imagine a situation like this: you work for a small or medium sized financial institution and your job contains some kind of responsibility for legal...

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FATF reports on money laundering and terrorist financing risks for FinTechs

July 1, 2016

In a speech at the XXV International Financial Congress in St Petersburg on 1 July 2016, David Lewis, FATF Executive Secretary, highlighted the risks and opportunities of FinTech with a view...

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German regulator issues monthly guidance – hot topics: netting agreements and the right to a basic bank account

June 15, 2016

BaFin, the German financial regulatory authority, has today published its latest issue of the BaFin Journal, its monthly bulletin that contains technical articles, interviews and reports on...

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FATF focuses on terrorist financing and transparency & beneficial ownership

June 9, 2016

The Financial Action Task Force (FATF) has published its agenda for its forthcoming plenary session. Throughout the week’s meetings which includes the Plenary meeting on...

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European Parliament wants AML and CFT watchdog for Bitcoin and virtual currencies

May 26, 2016

The EU Commission should set up a taskforce to monitor virtual currencies, like Bitcoin, to prevent their being used to launder money or finance terrorism,...

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Singapore regulator shuts down Swiss bank

May 24, 2016

The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as...

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The FCA bans former compliance officer

May 19, 2016

The Financial Conduct Authority (FCA) has banned Mr Peter Johnson, former compliance officer of Keydata Investment Services Ltd (Keydata), from performing any function in relation to...

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In a nutshell – US AML regulation for Crowdfunding platforms

May 17, 2016

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, recently put out a news release with regard to its...

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New HM Treasury office to help with financial sanctions compliance

May 13, 2016

The FCA today published a statement regarding the setup of the Office of Financial Sanctions Implementation  to help UK businesses comply with financial sanctions. On 31 March...

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Treasury Announces Key Regulations and Legislation to Counter Money Laundering and Corruption, Combat Tax Evasion

May 5, 2016

Today, the U.S. Department of the Treasury announced several actions to strengthen financial transparency and combat the misuse of companies to engage in illicit activities....

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An Introduction to Bitcoin and Cryptocurrencies

April 19, 2016

Bitcoin, Cryptocurrency, virtual money, Litecoin, Blockchain and so on… You may have heard these terms, but do you know what they mean? To be fair,...

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EBA briefs on due diligence measures on asylum seekers from high risk countries

April 13, 2016

The European Banking Authority (EBA) published today its Opinion setting out measures credit and financial institutions can take to comply with EU Anti- Money Laundering...

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FinCEN Proposes to Amend Definition of Broker-Dealer in Securities to Include Funding Portals

April 4, 2016

The Financial Crimes Enforcement Network (FinCEN) today proposed to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” in order to...

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