Archive for the ‘International News’ Category

Money Laundering Supervison

Steve O’Neill reviews the latest statement concerning Money Laundering Supervision The UK’s supervisory approach to compliance of obliged entities to the Money Laundering Regulations were branded "woefully inadequate" and are failing to block "corrupt money" and terrorist funds, an anti-corruption body has warned.

HM Treasury issue advice about unsatisfactory money laundering controls

HM Treasury has issued new advice about risks posed by unsatisfactory money laundering and terrorist financing controls. On 14 February 2014 the Financial Action Task Force (FATF) published two statements identifying jurisdictions with strategic deficiencies in their anti-money laundering and counter financing regimes. The Money ...

Cyprus damned on money laundering through leaked report

Almost 60 percent of one of the bailed out Cypriot bank's clients are "high risk" in terms of money laundering and almost a third of all bank depositors' records contain errors, according to a leaked EU report. The report which was published by the Cypriot website stockwatch.com.cy - was drawn ...

Revised FATF Recommendations

The long awaited revised FATF Recommendations on International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation was finally published on 16 February. Following several rounds of consultation the revised Recommendations contain no real surprises in the publishes outcome, but a lot of disappointment has been aired ...

FATF Release new guidance

The Financial Action Task Force, the global standard-setter in the fight against money laundering and terrorist financing, has revised the Recommendations after more than two years of efforts by member countries. The Recommendations are used by more than 180 ...

09.09.09 Proposed amendments to Jersey’s Anti-Money Laundering Legislation

September 09, 2009  |   International News   |     |   0 Comment

The Jersey Financial Services Commission has published a consultation paper concerning proposed amendments to the ‘Money Laundering (Jersey) Order 2008’. The Money Laundering (Jersey) Order 2008’ requires Regulated businesses to apply policies and procedures for the prevention and reporting of money laundering. These include policies and procedures for customer due diligence, ...

04.09.09 Netherlands Concludes TIEAs With Caribbean Islands

September 04, 2009  |   International News   |     |   0 Comment

In a further tightening of the net for international tax evasion, the Netherlands Ministry of Finance has announced the signing of tax information exchange agreements (TIEAs) with three Caribbean territories. The agreements with St Kitts and Nevis, and the TIEAs with Antigua and Barbuda and St Vincent and the Grenadines, were ...

25/02/09 India poised to have FATF entry approved

February 25, 2009  |   International News   |     |   0 Comment

New Delhi: A Bill aimed at effectively combating money-laundering, terror financing and cross-border economic offences was passed by Parliament on Tuesday, with the Lok Sabha approving the measure. The Prevention of Money Laundering (Amendment) Bill, 2009, passed by the Rajya Sabha last week, seeks to ensure a legal framework to check ...

25/02/09 Garda fraud officers continue Anglo probe

February 25, 2009  |   General News & Cases,International News   |     |   0 Comment

THE Garda Fraud Squad raid on the offices of Anglo Irish Bank was unprecedented and could lead to criminal prosecutions, according to legal experts. On Monday, a judge in Dublin's District Court granted officers from the Garda Fraud Squad permission to enter three separate premises of Anglo Irish Bank and take ...