In December 2017, the European Supervisory Authorities published a Report on draft Joint Regulatory Technical Standards (“RTS“) on the measures that credit and financial institutions should take to manage money laundering risk in their non-EU overseas branches and subsidiaries. The RTS focusses on the measures that EU firms must adopt when local law prevents their branches […]

The U.S. Congress began a series of hearings on Tuesday to consider ways to reform money laundering and illicit finance laws applied to casinos, as a president of a payments company argued the current system is broken and driven by perverse incentives. “Our current anti-money laundering (AML) and countering the finance of terrorism (CTF) is […]

HM Treasury has published an updated advisory notice regarding risks posed by unsatisfactory anti-money laundering and terrorist financing (AML/CTF) controls. The notice is issued in connection with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) (see daily news 26 June 2017), which require firms to put policies […]

On 7 October 2016, the Department of Finance and the Department of Justice and Equality published the first National Risk Assessment for Ireland (NRA) on money-laundering and terrorist financing (AML/CTF). The NRA is a detailed document and reflects a key objective of the inter-governmental Financial Action Task Group (FATF) to promote effective implementation of legal, […]