As part of the EU, the UK has to adhere to the Anti-Money Laundering Directive which is looking at transparency of trusts – but not for much longer.
The agreement follows a number of high profile cyber-attacks on banking systems around the world, which has brought banking security to the top of the agenda.
The UK bookmaking industry has been exempted by the country’s Treasury from the new Fourth EU Money Laundering Directive, thus escaping the onerous and expensive fate of conducting due diligence on every transaction of €2,000 (£1,740 / $2,150) and above.
Dramatic Kenyan bribery law underscores the new reality: Washington and London have no monopoly on talking tough
Kenya’s new Bribery Act, which pairs onerous obligations with severe penalties, may mark the start of a new era in which developing countries pass and enforce anti-bribery laws that are far more stringent than those in “traditional” compliance jurisdictions.
U.S. banks should not cut ties with foreign clients over money- laundering worries unless officials have concrete cause for concern, a leading U.S. regulator is telling staff and lenders.
The Financial Conduct Authority (FCA) is being scrutinised by a government audit, alongside a number of other agencies focused on preventing scams and economic crime.
The art and antiques trade has raised fears that the launch of a new government money laundering watchdog will lead to further red tape for dealers and auctioneers in the UK.
The Government is to set up a new watchdog to close loopholes used by criminals as part of a wider clampdown on money laundering and terrorist financing.
Finance leaders of the world’s top economies have agreed to review banking rules, but this does not automatically mean hard-fought financial market regulation will be rolled back, Bundesbank President Jens Weidmann told Reuters on Sunday.
On November 8, 2016, Indian Prime Minister Narendra Modi announced in a televised speech that 500 and 1,000 rupee notes would no longer be legal tender, swiftly rendering 86 per cent of cash in the ...
Image: nomination of Richard Cordray as CFPB director. Dodd Frank, the sweeping financial reform brought in after the 2008 financial crisis, is not beloved by Republicans. Numerous elements of the legislation have drawn criticism from the ...
The irony of revelations from the Global Laundromat scandal landing almost exactly a year on from the Panama Paper leaks is not lost on many readers. Clearly the lip-service to greater transparency that followed the financial leak ...
The Laundromat is a name given by the Organized Crime and Corruption Reporting Project to a vast money-laundering scheme. Between autumn 2010 and spring 2014 Russian officials and insiders moved billions of dollars into Europe, ...
Tom Devlin, barrister and partner at Stephen Platt and Associates LLP, unpicks recent anti-money laundering scandals in the finance industry. He looks in detail at what went wrong, how word got out, and how the failings ...
A Republican state senator from the Niagara Falls area and his predecessor pleaded not guilty on Thursday in a pair of schemes involving payments to a spouse and a former aide, the latest in a long line of corruption cases to emanate from New York State’s capital.
Cristina Kirchner ordered to stand trial for the first time in series of corruption and mismanagement cases
Argentina’s former president has been ordered to stand trial, in the first of several cases against the divisive ex-leader.
If you don’t think there is any corruption in Australian politics, then you have no need to worry about the millions of dollars’ worth of corporate donations to political parties.
Agricultural Bank of China (AgBank), the country’s third-biggest lender, said it will spend three years building an anti-money laundering (AML) centre to improve and centralize AML control, according to a statement circulated late on Thursday.