Page 2 - Laundering Directive News Today

Germany's Commerzbank is seeking to enter the crypto-assets market after a spokesperson revealed the bank has applied for a local crypto licence.

The Trust Registration Service (TRS) came into existence in 2017 as part of the adoption by the UK Government of EU Money Laundering legislation.

Ireland is home to well-developed and globally recognised technology and financial services sectors and is a fintech hub.

The invasion of Ukraine by Russia has pushed forward a wider government agenda to encourage transparency in relation to how overseas entities own UK real estate. We first reported many...

Anti-money laundering specialist SmartSearch has called on property agents to ‘ditch documents’ and embrace a digital solution or risk falling foul of new regulations. As the June 10 deadline approaches for estate and lettings agents to register with HMRC to ensure compliance, there are concerns that some agents are not yet prepared for the extra regulatory responsibility, and that relying on outdated methods of ID verification is leading to a rise in fraud. In addition to the HMRC deadline...

Go Minister of State Browne welcomes passage of legislation to help combat money laundering and tackle white collar crime You are here: Home Minister of State Browne welcomes passage of legislation to help combat money laundering and tackle white collar crime Minister of State Browne welcomes passage of legislation to help combat money laundering and tackle white collar crime     Minister of State with responsibility for Law Reform, James Browne TD, today welcomed the passage through the Dái...

Introduction Cyprus has elevated its ultimate beneficial owner (UBO) reporting status by implementing all of the mechanisms for the creation, operation and maintenance of a UBO register. The UBO register is a requirement emanating from the amended Fourth EU Anti-money Laundering Directive (4AMLD). The 4AMLD was transposed into national legislation on 3 April 2018 by the Prevention and Suppression of Money Laundering and Terrorist Financing Law (13(I)/2018), Article 61A(4)(a) of which specifical...

Key developments of interest over the last month include: • United Kingdom: The Payment Systems Regulator (PSR) has published two calls for views, one of which focuses on authorised push payment (APP) scams and the other on consumer protection in interbank payments. • India: The government is planning a cryptocurrency bill with the aim of establishing a framework for the creation of an official digital currency to be issued by the Reserve Bank of India. • United Kingdom: The FCA is con...

January 14, 2021 In 2020, the COVID-19 pandemic taught the world another lesson about the unpredictability of life. Each country responded to the challenges posed by the pandemic in its own way. The German Government in its familiar technocratic and sober approach quickly unlocked massive financial resources to mitigate any immediate economic damage. It supported a further relaxation of the purse strings at EU level and put legislative acts in place that helped manage the uncertainty in the mos...

14 January 2021 The Dáil recently passed a Bill which will provide some certainty and relief for both pension scheme members and pension providers if it is enacted in its current form. The Bill contains provisions which ensure that Irish individuals will not find that their personal information has been placed on a State maintained central register simply by virtue of the fact that they are a member of a pension scheme. As the Bill excludes pension schemes from registering on the central regis...