Industry Sectors
4th October 2021
The International Monetary Fund (IMF) released a set of policies for the emerging markets and developing economies to ensure financial stability amid global crypto adoption. The IMF believes in the potential of crypto assets as a tool for faster and cheaper cross-border payments, citing the dramatic increase in the value… Read More
1st October 2021
Prosecutors in Switzerland and abroad are investigating Swiss banking links to a range of alleged money-laundering and tax-evasion offences from Europe to South America, Asia, the Middle East and Africa (click on box below). Recently uncovered suspicious transaction reports, made to the US Financial Crimes Enforcement Network (FinCEN), show Swiss… Read More
1st October 2021
Italian Prime Minister Mario Draghi managed to convene a virtual summit of the world’s Group of 20 leading nations to discuss Afghanistan, but just who will take part and what will be achieved is still to be determined. The Oct. 12 forum will focus on the war-torn country that has… Read More
1st October 2021
They are accused of setting up an elaborate scheme, known as the “Singapore Solution”, to funnel money out of Switzerland, through structures in Hong Kong and Singapore, and back into Swiss bank accounts. Read more at SWI swissinfo.ch RiskScreen: Eliminating Financial Crime with Smart Technology… Read More
30th September 2021
Russia is delaying the appointment of panels of independent experts to monitor violations of U.N. sanctions on South Sudan, the Democratic Republic of Congo, Central African Republic (CAR) and Mali, diplomats said on Wednesday, leaving their work in limbo. By Michelle Nichols and Jonathan Saul, Reuters, 30 September 2021 Read… Read More
30th September 2021
The U.K.’s Serious Fraud Office is investigating the Alpha and Green Park group of companies for suspected fraud and money laundering following a dawn raid, the prosecutor said in a statement. By Ellen Milligan, Bloomberg, 29 September 2021 Read more at Bloomberg RiskScreen: Eliminating Financial… Read More
30th September 2021
The Authority has just published its AML/CFT Monitoring report which reviews its enforcement approach of the law over the past three years. The FMA had taken a stiffer approach to non-compliance over the period, issuing 27 private warnings, three public warnings and its first… Read More
30th September 2021
Beneficial ownership transparency is a crucial strategy for tackling illicit financial flows. It involves identifying the individuals (natural persons) who ultimately own, control, or benefit from a legal vehicle like a company, trust or partnership. Individuals engaging in illegal or illegitimate activities, however, find it quite easy to hide themselves… Read More
28th September 2021
The changes with regards to AMLD5 on prepaid card transactions represent key information for the payments ecosystem, especially on the way it could impact the payment acceptance rate. Using his expertise in the field of legal consulting, Timelex‘s Niels Vandezande sheds light on the new rules and exceptions around this law The directive… Read More
26th September 2021
Brazilian authorities are investigating whether JPMorgan Chase & Co played a role in an alleged bribery and money laundering scheme that dated back to 2011 and involved state-run oil company Petrobras, according to documents reviewed by Reuters and two law enforcement sources. So far, police have focused their attention on… Read More