Germany updated its anti-money laundering and countering financing of terrorism (AML/CFT) regime to be consistent with the EU’s Fourth Anti-Money Laundering Directive, by imposing cryptocurrency licensing requirements effective from January 1, 2020.… Continue Reading
I’m from Kosovo. It’s one of Europe’s smallest countries — about half the size of Vermont — and its newest, having emerged from war as an independent state in 2008.
Since then, and after a decade of focusing on anti-corruption enforcement, Kosovo and its 1.8… Continue Reading
The pressure on companies to identify and verify ultimate beneficial ownership or UBO information is growing, with more legal requirements being imposed, first by FinCEN, and most recently by the UK, which particularly targeted the British Overseas Territories.… Continue Reading
This post is the second of two covering the importance of compliance professionals understanding the technology that drives their businesses and produces the data they need to manage risk. The first post is here.… Continue Reading
Deutsche Bank agreed on Monday to turn over documents related to a regulatory probe into the operations of its Dubai-based wealth management division.
The Frankfurt-based lender will hand over the details sought by the Dubai Financial Services Authority (DFSA) within 28 days and pay the regulator’s costs, as noted in a DFSA statement on Monday.… Continue Reading
A report by the European Commission describes how corruption affects member states and costs their economies around €120 billion a year.
The European Commissioner for Home Affairs, Cecilia Malmström, spoke at a news conference in Brussels Monday.… Continue Reading
Former Romanian prime minister Adrian Nastase was sentenced to four years in prison Monday for taking bribes.
Nastase, 63, was convicted of receiving $858,000 in bribes from construction company-owner Irina Jianu in exchange for appointing her to lead the public works department.… Continue Reading