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Germany to stop property deals in cash to fight ML

Germany is preparing legislation to prohibit cash transactions in the real-estate market to step up efforts to fight ML and other financial crimes.
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EBA main achievements in 2021 in its Annual Report

EBA published its Annual Report describing its activities and achievements in 2021 and also includes the strategic priorities for 2022  which include the review of the stress-testing framework, the implementation of the mandates in the area of AML/CFT, financial innovation...
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EBA Guidelines on role & responsibilities of the AML/CFT compliance officer

The Guidelines specify that credit or FIs should appoint one member of their management body who will ultimately be responsible for the implementation of the AML/CFT obligations, and clarify the tasks and functions of that person, describing the roles & responsibilities...
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Europol better equipped to fight crime and terrorism

EU Parliament grants more power to Europol to fight crime and terrorism to improve information sharing via increased cooperation with private parties, better processing of large and complex datasets and strengthening the agency's role ...
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ESA Joint Report on AML/CFT rules

The joint Report highlights the importance of the appropriate integration of AML/CFT issues into prudential regulation and supervision, including in the proposal for the Markets in Crypto-Assets Regulation (MiCA), currently under negotiation...
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EP Committee on Constitutional Affairs to establish AML

The powers of the Authority should allow it to improve AML/CFT supervision in the Union in various ways. With respect to selected obliged entities, the Authority should ensure group-wide compliance with the requirements laid down in the AML/CFT framework...
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GRECO 2nd Compliance Report on Greece

GRECO recommends that as part of a proclaimed integrity policy, efficient internal mechanisms be developed to promote, raise awareness of, and thereby safeguard, integrity in Parliament in a collective effort (e.g. training, discussions on ethics and integrity, awareness of bribery...
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Europol arrests in Hungary for ML

The investigation uncovered that the members of the criminal network established a number of companies with no meaningful economic activities, and purchased others with the use of strawmen. The suspects opened bank accounts in the name of these companies...
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European Commission’s annual report

European Parliament says Commission’s assessment of the rule of law in the EU is useful but has significant room for improvement. It has called for 1) broader scope and more in-depth, transparent assessment 2)concrete, country-specific recommendations and targets needed...
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FATF Mutual Evaluation France 2022

The non-financial compliance with its AML and CFT obligations has generally improved but remains limited for real estate agents and business service providers. Some sectors are not sufficiently aware of their obligations, especially in relation to beneficial ownership, PEPs and STR...
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MONEYVAL conducts Mutual Evaluation of France

France plays an active role in proposing designations to the EU and UN sanction lists. It has an adequate new legislative package to implement targeted financial sanctions (TFS) for TF and proliferation financing (PF) without delay...
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Council of Europe Study on NGO Law

Council of Europe published a Study on Non-Governmental Organisations and the Implementation of Measures Against ML/TF. The Study first clarifies the NGOs with which the requirements are supposed to be addressed before considering the process of evaluation...
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