As Co-founder of EWPN, we are proud to launch a new whitepaper called “Spot the Funds, Stop the Trafficking”. This paper is the cornerstone of a campaign to call on the financial services industry to actively tackle the global issue of modern slavery and human trafficking (MSHT). Shining a light in dark corners Slavery…
In previous blogs and articles, I have relayed one consistent message on the effectiveness of AML/CFT measures – ‘Legislation alone, is not enough.’ I welcome therefore the European Commission’s recently issued action plan which promises fresh measures to fight money laundering and terrorist finance (ML/TF). The new plan goes deeper than anything we’ve seen before…
At the European Payment Summit held on 8th and 9th of March 2017 in the Hague, the Netherlands, I had the pleasure to discuss one of the new concepts of cybercrime (and money laundering) together with EverCompliant. The presentation was somewhat an eye-opener for many participants in the room, being amazed by what criminals can…
A final vote by the European Commission to pass critical anti-money laundering legislation takes place this month. It is important that all relevant parties understand and adopt the requirements within this next stage AML 5th Directive. But what do we need to know and do? Transaction monitoring priorities One key element here is the Directive’s…
Cryptocurrencies are currently being given many names. And with no agreed approach to naming and status between Governments and their supervisory bodies, it can be very confusing for the user. Or COINfusing, if you like! What’s in a name? Here are some of the names and titles currently given to online currencies: They are…
As we move into 2018, the fourth European AML (Anti Money Laundering) Directive is effective. This has in fact, been the case since last summer. Some have called the upgrade the most sweeping European AML legislation changes seen in several years and many member states are currently working hard to implement the new obligations. And…
Under 4AMLD, ESA has been assigned the task to issue guidelines on risk factors to be taken into consideration and the measures to be taken in situations where both simplified CDD and enhanced CDD measures would be appropriate. A final version of these Guidelines were issued in June and is appropriately called “The Risk Factors…