Terrorism Funding Money Laundering

News & Analysis as of

Anti-Money Laundering Update: HM Treasury Advisory Notice on Money Laundering and Terrorist Financing Controls

On November 12, HM Treasury published an advisory note on money laundering and terrorist financing controls in jurisdictions outside the European Union. The advisory note identifies that on October 23, the Financial Action...more

Treasury updates ML advisory

Treasury has updated its advisory on money laundering (ML) and terrorist financing controls in overseas jurisdictions. It continues to advise that North Korea, Iran and Myanmar are high risk, and firms should apply enhanced...more

FSB reports on correspondent banking

FSB has published a report to G20 on actions taken to assess and address the decline in correspondent banking. It claims correspondent banking is essential for individuals, businesses and banks themselves. The report updates...more

FATF reports on emerging terrorist financing risks

FATF has published its report on emerging terrorist financing risks. It provides an overview of the various financing mechanisms and financial management practices used by terrorists and terrorist organisations. ...more

FATF updates guidance

FATF has published the outcomes of its plenary meeting in Paris. The main issues dealt with by this plenary were: - combating terrorist financing, which remains the top priority for FATF...more

European Supervisory Authorities Consult on AML-CFT Guidelines

On October 21, the joint committee of the three European Supervisory Authorities (ESAs, comprising the European Banking Authority, the European Securities and Markets Authority, and the European Insurance and Occupational...more

Joint Committee of ESAs Consults on Risk-Based Supervision and Risk Factors Guidelines

On October 21, 2015, the Joint Committee of the European Securities and Markets Authority, the European Banking Authority and the European Insurance and Occupational Pensions Authority (together, the European Supervisory...more

ESAs consult on AML/CTF

The European Supervisory Authorities (ESMA, EBA and EIOPA jointly) have launched a public consultation on two anti-money laundering and countering the financing of terrorism (AML/CFT) guidelines, to be made under the fourth...more

Investment Management Update - October 2015

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more

FinCEN to Withdraw 2011 Proposed Rule Against Lebanon-Based Bank

On September 28, FinCEN announced its intention to withdraw its February 2011 Notice of Finding and Notice of Proposed Rulemaking identifying a Lebanon-based bank as a “financial institution of primary money laundering...more

Letter from America: Non-Us Companies And Executives At Risk From Us RICO Law

More frequently than ever before, American plaintiffs and prosecutors are using U.S. laws to target conduct that has little, if any, connection to the United States. Potential exposure to criminal and civil liability under...more

Financial Action Task Force Publishes Updated List of Deficient Jurisdictions

On February 27, the Financial Action Task Force (FATF), which is an inter-governmental body established to set standards and promote effective implementation of legal, regulatory and operational measures for combating money...more

Council of the EU Presidency Compromise Proposal on MLD4

On March 3, the Council of the EU published a compromise proposal (dated January 28, 2014) on the European Commission’s proposed Directive on the prevention of the use of the financial system for the purpose of money...more

UK House of Commons Scrutinizes MLD4 and Revised Wire Transfer Regulation Proposals

On January 2, the United Kingdom House of Commons Scrutiny Committee published its 28th Session 2013-2014 report. In particular, the report considers the European Commission’s proposed MLD4 Directive on money laundering and...more

FinCEN Encourages Information Sharing Between Financial Institutions

On October 31, FinCEN issued a fact sheet to highlight Section 314(b) of the USA PATRIOT Act, which provides financial institutions with the ability to share information with one another under a safe harbor that offers...more

Emerging: Crime exposed in the currency exchange industry

U.S. prosecutors have recently filed an indictment against the operators of the Costa Rica-based currency exchange, Liberty Reserve, accusing it of helping criminals around the world to launder more than US$ 6 billion. ...more

Financial Services Quarterly Report - First Quarter 2013: Developments in the Luxembourg Financial Sector

The Commission de surveillance du secteur financier (the “CSSF”), the Luxembourg supervisory authority, issued a circular on the authorization and organization of Luxembourg UCITS management companies and self-managed SICAVs....more

European Commission: Anti-Money Laundering

On February 5, the European Commission published two legislative proposals designed to reinforce the European Union’s existing rules on anti-money laundering and fund transfers....more

European Commission: Anti-Money Laundering

On February 5, the European Commission published two legislative proposals designed to reinforce the European Union’s existing rules on anti-money laundering and fund transfers....more

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