Our extensive knowledge at your fingertips

Latest editions

Search

FATF summarises outcomes of the 22-24 Feb 2023 Plenary

February 24, 2023

FATF members took important steps to enhance the transparency of beneficial ownership and prevent criminals from hiding illicit activity behind opaque corporate structures. FATF agreed on revisions to Rec 25 on transparency and beneficial ownership of legal…

Home Office Fact Sheet on journalistic freedoms under the National Security Bill

February 23, 2023

Part 1 of the bill contains the core state threats offences and measures. These are designed to make the UK an even harder place for states to conduct hostile activity in, increase the cost to them of doing so and tackle all aspects of the threat, which has evolved since…

HM Treasury and Bank of England issues consultation paper on The digital pound

February 23, 2023

The digital pound would be a new form of digital money issued by the Bank, for use by households and businesses for their everyday payments needs. The consultation paper notes that the digital pound is likely to be needed in the future, but does not yet make a decision…

House of Commons Library research briefing on cryptocurrencies

February 22, 2023

The briefing examines what cryptocurrencies are, how they work, the benefits and challenges they offer, and how regulators have reacted to them. It covers the definition of cryptocurrencies and cryptoassets; the regulation of cryptoassets and stablecoins…

Basel Working Paper sheds fresh light on the sanctions and confiscation debate

February 21, 2023

The paper examines whether states should be able to confiscate sanctioned assets* purely on the basis that they have been sanctioned? The justifiability and legality of mechanisms such as Canada’s is currently the subject of debate. Two key issues include whether the…

Hong Kong SFC consults on proposals to regulate virtual asset trading platforms

February 20, 2023

The Consultation Paper on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators covers (i) licensing and conduct requirements concerning Platform Operators and (ii) AML/CFT requirements applicable to virtual asset service providers (“VASP”)…

FINTRAC on proposed changes to the Canadian AML/CFT regime

February 18, 2023

The proposed amendments to the regulations would prescribe a formula for FINTRAC to assess the expenses it incurs in the administration of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act against reporting entities, impose AML/ATF obligations on mortgage lending entities…

Gambling Commission fines Blue Star Planet Ltd for AML control failings

February 16, 2023

Blue Star Planet Limited, trading as , will pay £620,000 after a Commission investigation revealed social responsibility and anti-money laundering failures. The operator – which runs 10bet.co.uk – will pay the money as part of a settlement with the Commission…

HMRC updates its Art market participants guidance for money laundering supervision

February 16, 2023

The guidance helps art market participants meet their obligations for money laundering supervision, including customer due diligence, record keeping and reporting suspicious activity. This guidance is based on law and regulations as at 6 Feb 2023 produced by BAMF…

BVI, Costa Rica, Marshall Islands, and Russia on EU noncooperative jurisdictions list

February 14, 2023

The European Council decided to add British Virgin Islands, Costa Rica, Marshall Islands and Russia to the EU list of non-cooperative jurisdictions for tax purposes. They have been invited to improve their legal framework and to work towards compliance with international…

Wolfsberg Group updates the Correspondent Banking Due Diligence Questionnaire

February 10, 2023

Wolfsberg Group updates the Correspondent Banking Due Diligence Questionnaire (CBDDQ) and Financial Crime Compliance Questionnaire (FCCQ). The CBDDQ updates include a new section on Fraud and additional questions related to Whistleblower Policy, Virtual Bank License…

Home Office report on the operation of the Investigatory Powers Act 2016

February 9, 2023

Home Office has published a report on the Investigatory Powers Act 2016 (IPA 2016), which discusses the findings of an internal review that was conducted into the operation of the IPA 2016 to determine whether it remains fit for purpose…

No results found.