Spain: What brings the new Royal Decree on Anti-Money Laundering and Counter-Terrorist Financing?

On 6 May 2014, the Spanish Official State Gazette published Royal Decree 304/2014 passing the Regulation of Act 10/2010 on Anti-Money Laundering and Counter-Terrorist...

Spotlight on FinCEN: An Increasing Focus on AML Regulation and Enforcement

Although the Financial Crimes Enforcement Network (“FinCEN”) is often perceived as the aggregator of Suspicious Activity Reports (“SARs”) and other federally-mandated financial forms and...

Israel: Controversial Identification and Disclosure Obligations under Amendment to AML Law

After attracting the attention of the Israel Bar Association and generating considerable controversy, the 13th Amendment to the Israeli Prohibition on Money Laundering Law...

UK: New Guidelines on Sentencing of Corporate Offenders

On 1 October 2014, new guidelines issued by the Sentencing Council (the "Guidelines") came into force for the sentencing of fraud, bribery and money...

Ukraine: Upfront Disclosure of Beneficial Ownership Now Required

A law requiring an upfront disclosure of beneficial ownership of companies to the Ukrainian authorities has been signed by the President. All companies previously...

Economy Ministry of Spain is developing database to monitor Spanish bank accounts

According to an article published by Spanish newspaper El País on May 12, 2014 the Spanish government is to create an extensive database monitoring...

Swiss Supreme Court steps up diligence standards in AML

In early May 2014, a new decision from the Swiss Supreme Court shocked the legal and compliance community. In the Swiss Supreme Court’s view,...

Odd effects of Mexico’s 2013 anti-money laundering legislation

Mexican newspaper “El Financiero” reported on 13 May 2014 that there has been a significant drop of luxury car sales in Mexico since September...

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