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€500 banknote issuance to end
The European Central Bank (ECB) is to stop printing €500 banknotes by around the end of 2018 over concern that they “could facilitate illicit activities”.Those notes already in circulation will remain legal tender while national..
Online Published Date:
06 May 2016
Appeared in issue:
234 - 24 May 2016
US moves to identify company beneficial owners and speed ML investigations
Years in the wrangling, the US customer due diligence rule, which will require US financial institutions to “identify and verify” the personal details of beneficial owners of corporate accounts, at a 25% threshold, or otherwise the..
Online Published Date:
09 May 2016
Appeared in issue:
234 - 24 May 2016
Foreign companies holding UK property to register beneficial owners – welcome with caveat
Timon Molloy (timon.molloy@informa.com), Editor
Online Published Date:
12 May 2016
Appeared in issue:
234 - 24 May 2016
Law firm regulator’s AML findings jar with UK property market claims
Most law firms in England & Wales have effective AML compliance in place according to the Solicitors Regulation Authority (SRA), which supervises around 10,300 firms and 170,000 individuals, although its latest study points to serious..
Online Published Date:
17 May 2016
Appeared in issue:
234 - 24 May 2016
Pulling out the rug – Turkey slips back
Conflict rages just over the border in Syria yet Turkey goes slow (even backwards with recent amendment of its customs code) on terrorist financing. So, what is the agenda? asks Paul Cochrane.Turkey may be on the frontline of the so-called..
Online Published Date:
20 May 2016
Appeared in issue:
234 - 24 May 2016
Elusive target – US v Hizbullah
Hizbullah has long been on the terrorism radar and despite current focus on Islamic State, the United States is attempting to maintain pressure on the group’s finances through specific legislation. Paul Cochrane, in Beirut, explores the likely..
Online Published Date:
20 May 2016
Appeared in issue:
234 - 24 May 2016
Fourth EU Directive – evolution not revolution, and onto the Fifth…
Lisa Kate Osofsky (+44 (0) 207 489 5509, losofsky@exiger.com) is EMEA Chairman of Exiger.
Online Published Date:
20 May 2016
Appeared in issue:
234 - 24 May 2016
Plain dealing
Susan Grossey may be contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com, www.thinkingaboutcrime.com
Online Published Date:
20 May 2016
Appeared in issue:
234 - 24 May 2016
Nuclear reaction – UN & EU tighten sanctions on North Korea
Susannah Cogman (+44 (0)20 7466 2580, susannah.cogman@hsf.com) is a partner and Elizabeth Head (+44 20 7466 6443, elizabeth.head@hsf.com) is a senior associate at Herbert Smith Freehills in London.
Online Published Date:
20 May 2016
Appeared in issue:
234 - 24 May 2016
East-West entrepôt: the Hong Kong connection
Differences in local law between mainland China and its Special Administrative Regions, a common propensity to gamble and official limits on cash outflows from the People’s Republic are proving a rich mix for launderers, reports Ed Peters from..
Online Published Date:
20 May 2016
Appeared in issue:
234 - 24 May 2016
Is one SAR always enough?
If your organisation is wholly based in the UK and only has UK clients then you submit any suspicious activity reports (SARs) to the National Crime Agency (NCA). However, with many organisations operating across borders, knowing to which financial..
Online Published Date:
24 May 2016
Appeared in issue:
234 - 24 May 2016
Is your sanctions filter working?
SWIFT recently hosted a panel discussion on sanctions compliance with experts from Citi, JPMorgan Chase and PricewaterhouseCoopers as part of the ACAMS webinar series. Topics ranged through regulators’ growing expectations that banks should..
Online Published Date:
25 May 2016
Appeared in issue:
234 - 24 May 2016
Oversights – the UK AML supervision report
Timon Molloy (timon.molloy@informa.com), Editor
Online Published Date:
07 June 2016
Appeared in issue:
234 - 24 May 2016
The future is artificial – AML technology
Swamped with data – whether from, around or about a subject, sources both in-house and external, public and commercial – and ever wary of missing that vital piece, whatever the rules say about reasonable endeavour, due diligence and..
Online Published Date:
22 June 2016
Appeared in issue:
234 - 24 May 2016