Singapore enhances Monetary Authority of Singapore Act to strenghten AML regime

To enhance and also align Singapore’s anti-money laundering (AML) and countering the financing of terrorism (CFT) regime with the international standards set by the...

Risk Assessment in India: Challenges and Best Practices

India poses high risks of corruption and money laundering for financial institutions operating in the country. To evaluate these risks, the authors recommend four...

Spain Issues first Good Practices Guidance on the Screening against Designated Persons Lists

In January 2015, the Spanish Executive Service of the Commission on the Prevention of Money Laundering and the Financing of Terrorism (“SEPBLAC”) published for...

EU to counter money laundering – company owners required to be listed on national...

On December 17, 2014, EU law makers within the European Parliament and the Council of Ministers have reached political consensus on tougher anti-money laundering...

Spain: Complicity in Tax Fraud and Money-Laundering in a Case with Broad Media Coverage

In a court order issued on November 7, 2014, in an appeal against an order for an abbreviated trial, the Provincial Court of Palma...

Casinos, Fine Art, and Attorneys: The New Anti-Money Laundering Frontier in Mexico

The Federal Law for the Prevention and Identification of Transactions with Funds from Illegal Sources is now just over two years old. The authorities...

Ukraine Introduces New Legislation on Money Laundering

On 14 October 2014, the Ukrainian Parliament adopted the Law “On prevention and counteraction to legalization (money laundering) of the proceeds from crime or...

UK Introduces Disclosure Rules for Extraction Payments Made to Foreign Governments; other European...

From January 1, 2015 UK extractive companies will be required to make annual disclosures to the UK Government of sums that they have paid...

UK: Money laundering and sanctions risks – FCA feedback on its latest thematic review...

Close supervisory attention to money laundering compliance backed by a steady stream of enforcement cases has resulted in improved standards of compliance.  However, according...

Australian based resources companies could be required to report payments to governments

On 28 October 2014, the Corporations Amendment (Publish What You Pay) Bill was tabled in Parliament. The Bill requires Australian based companies or their...

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