AML Intelligence

14/06/2021

LATEST: EML Payments may face legal action amid suspicions that it 'failed in its obligations to shareholders when concerns caused stock to tumble.

The Brisbane-based FinTech may face a class-action lawsuit from legal firm Shine Lawyers.

Read the latest 👉

https://zurl.co/cQvD

By Dan Byrne for AMLi The AML nightmare for Australia’s EML Payments looks further from over this week as news has surfaced of repercussions from shareholders. The Brisbane-based fintech may face a class-action lawsuit from legal firm Shine Lawyers. Shine is currently advertising for any EML share...

24/05/2021

🚨EXCLUSIVE🚨

Head of Europe's AML drive to speak at AMLintelligence's Boardroom Series event on July 22nd.

John Berrigan, Director-General for Financial Services, Financial Stability and Capital Markets Union ( ) in the European Commission will spearhead the conference on July 22 next.

‘Europe’s New AML Regime Explained’ will come just days after the publication of the new adoption plan by Mairead McGuinness, and will see Mr Berrigan explain the plan in detail.

This event will give attendees an invaluable insight into the Adoption Plan and ramifications for the Financial Sector.

Attendees will also hear from a range of thought leaders and policymakers at this exciting event to reveal their views on the AML adoption plan.

REGISTER your interest here 👉



https://zcu.io/a0cS

By Elizabeth Hearst for AMLi Europe’s top finance official is to be the Keynote Speaker at the upcoming AML Intelligence Boardroom Series event. John Berrigan, Director-General for Financial Services, Financial Stability and Capital Markets Union (FISMA) in the European Commission will spearhead t...

11/05/2021

🚨 EXCLUSIVE insight from Wim_Mijs, CEO of the European Banking Federation on how to ramp up Europe's fight against , why is not the problem and how banks and law enforcement can work better together to tackle dirty money.

Read here 👉
https://zcu.io/2XP2

MONEY LAUNDERING is about much more than white-collar crime. It is a process which fuels the activities of criminal gangs that are extremely harmful to European society as a whole. It provides criminal organisations with a wide range of possibilities to conceal the source of illicit proceeds stemmin...

04/05/2021

🚨 Norway’s largest financial services firm has confirmed it will pay a multi-million euro AML compliance fine.

DNB ASA, headquartered in Oslo, has agreed to a penalty of 400M Norwegian kroner (just over €40M) after an assessment by the country’s financial crime watchdog Finanstilsynet.

Read this latest report by Dan Byrne 👉

https://zcu.io/opYi

By Dan Byrne for AMLi Norway’s largest financial services firm has confirmed it will pay a multi-million euro AML compliance fine - first hinted at some months ago. DNB ASA, headquartered in Oslo, has agreed to a penalty of 400M Norwegian kroner (just over €40M) after an assessment by the countr...

10/04/2021

🚨AMLintelligence is delighted to sponsor 🚨

Have a look at some of the industry leaders who will be speaking at this unmissable event.

Book your tickets now 👉 https://zcu.io/daU5

09/04/2021

🚨 SPECIAL REPORT by AMLi correspondent Elizabeth Hearst.

Who will lead supervision of Europe's 2 Million non-financial businesses?

Europe's top banking authorities don't think it should be Europe's next AML Supremo.

Read more 👉

https://zcu.io/PleD

29/03/2021

Interested in and how to crack down on ?

Join our stellar line-up of speakers on April 21st and hear about the latest developments in with our global event.

Further information available here 👉https://zcu.io/8Bvu

17/03/2021

STRONG signals of convergence between EU and US on tackling financial crime this week. Europe's financial services supremo has praised America's new Defense Act AML provisions, weeks ahead of announcing Europe's AML/CFT rollout - expected to be the most radical in generations.
European Commission Mairead McGuinness said the EU “looked forward to the closer cooperation through the (Financial Action Task Force (FATF)" with the US in future.
McGuinness, as Dan Byrne reports, was speaking at an Atlantic Council event and is expected to publish her own antimoneylaundering road map shortly.



https://zcu.io/0REu

EUROPE’S politician overseeing AML has praised the United States for laws recently enacted there that combat money laundering. Speaking as part of an online panel this week, European Commissioner Mairead McGuinness stressed that the EU was excited about working with the new Biden administration - ...

16/03/2021

A SURVEY shows that compliance professionals believe fines are effective only in certain circumstances. Moreover, the biggest concern among institutions when it came to leaks like the fincenfiles was , with 69% saying the harm caused by news reports was a worry to them.
Significantly almost 80% of respondents to the ACAMS poll said that they thought a periodic issuance of national AML priorities would be helpful in shaping their AML framework.

https://zcu.io/tpMX

Over half of respondents to an international poll have said that AML compliance fines only work some of the time. In a survey released by the Association of Certified Anti-Money Laundering Specialists (ACAMS) this month, 51% of respondents – consisting of individuals, financial institutions and re...

16/03/2021

NEWS UPDATE: financial watchdog BaFin has told the Frankfurt branch of Piraeus Bank – headquartered in Athens – to “improve the prevention of money laundering and terrorism financing.” The move was announced Wednesday
https://zcu.io/z4Cz

The German financial crime watchdog has ordered a Greek bank to improve AML standards.

15/03/2021

IT'S FRIDAY and details of another Europol operation against international moneylaundering gangs emerge. In Holland police shut down a criminal network behind an international VAT fraud scam involving an online trading company Netherlands.
Police in Croatia, Czech Republic, Hungary and Poland raided 13 houses seizing communications equipment and documents.
In Ireland, a gang suspected of laundering over €4M across Europe was intercepted Wednesday by the Irish Criminal Assets Bureau – an agency of the national police force An Garda Síochána.

https://zcu.io/M1OG

Europol has announced a duo of multi-million-euro financial crime busts in both Ireland and the Netherlands.

15/03/2021

BREAKING: Financial Action Task Force (FATF) President Marcus Pleyer gives a rallying cry for more international consistency fighting moneylaundering “Overall, there is a huge gap between the FATF standards and the reality on the ground,” he warned. Speaking in the US today he implored the country to become a beacon to others once more. “That is why the US and other FATF members must lead by example.” Dan Byrne reports on the brutally honest assessment of the global fight against
https://zcu.io/NoZN

Many countries who have signed up to FATF’s rigorous AML standards are not putting them into practice, the agency’s chief warned today. FATF President Marcus Pleyer said “huge gap” has opened up between theory and practice, putting FATF member states at the mercy of their own shortcomings.

10/03/2021

SPECIAL REPORT: How Digital Advertising has become the lucrative front line for dirty money - in effect a new Low-Cost Laundry. The advertising and programmatic industry allows criminals to both clean and make money with advertising on the big platforms and in some media, writes Augustine Fou, PhD Facebook Google Twitter International News Media Association (INMA)

https://zcu.io/K6Ub

MONEY LAUNDERING, the cleaning of profits from illicit activities so they appear to be legitimate, is a well-honed trade craft practiced by international criminal organizations continuously. While there are anti-money laundering (AML) regulations, criminals don’t follow the rules or obey the laws....

09/03/2021

BREAKING: Investigation by a consortium of media groups has revealed that is a haven for criminal money from across globe using cover companies. The revelations in Suddeutsche Zeitung, Le Monde and the OCCRP point to lax laws in the Duchy. The reports are damaging both to the tiny country but also the . https://zcu.io/fbYz

By AMLi Correspondents AN INVESTIGATION published today (Mon) claims that funds linked to major international criminal or mafia activity and sought by national authorities is being concealed in Luxembourg. The ‘OpenLux’ investigation says the funds are being hidden in Luxembourg by front compani...

09/03/2021

INSIGHT: In new comments today former Wirecard CEO James Freis who was sent in to try to rescue the payment giants says: "Multiple known fraud typologies were exhibited at Wirecard - the public prosecutors are working on whom to hold accountable.”
Mr Freis also says his view remains “that a range of persons - external and internal - could have spoken up earlier about the red flags; had more done so under any of various possible avenues, it likely would have limited the frauds before I stopped them on my first day."

https://zcu.io/zvUx

The last CEO of German online payments company Wirecard has said that his first day on the job was when he truly realised the extent of the problems facing the company.

08/03/2021

BREAKING: EUROPE'S new AML rules will include an obligation for the first time to report cypto-to-crypto transactions. The move will block a gateway for moneylaundering. The adoption timeline for the European Commission AML ActionPlan is due to be announced in weeks.
PLUS: Officials are still deciding on whether provisions to outlaw all cash transactions over €10,000 in the EU will be included. France wants it in, is less enthusiastic.



https://zcu.io/wGx8

By Stephen Rae for AMLi EUROPE’S new AML rules will include far closer scrutiny of crypto exchanges, we can reveal. Right now exchanges must only report currency to crypto transactions. Under new rules to be announced within weeks, the exchanges will also be obliged to report on crypto to crypto t...

08/03/2021

SUPER morning of insight and debate at today's inaugural AMLintelligence conference in association with NICE Actimize Thank you to the hundreds of delegates who tuned in and to our wonderful speakers Rachel Po***ck, Federica Taccogna, Sujata Dasgupta, Jackie King and Kelly McCann. Special thanks to Helen McEntee, Minister for Justice Government of Ireland for delivering the opening address and participating in the Q&A. We will be holding more events in the series.
https://zcu.io/vfBi

By Elizabeth Hearst The term, “if she can’t see it, she can’t be it”, seems apt to describe this morning’s Women in FinCrime Event, hosted in celebration of International Women’s Day 2021.  Female industry leaders from across the world tuned in to give their thoughts on women in FinCrim...

04/03/2021

We are delighted to announce that the Minister for Justice of Ireland will officially open the https://zcu.io/bNgp conference next week.
Interest in the event has been phenomenal with speakers such as Rachel Po***ck NICE Actimize, Federica Taccogna Sujata Dasgupta Kelly McCann Jackie King and moderated by broadcaster Andrea Gilligan.

https://zcu.io/NNtD

Business Intelligence on AML and Financial Crime for Executive Leaders

03/03/2021

We look forward to hearing from Rachel Po***ck at the event.
Register now: https://zcu.io/fNS4

03/03/2021

We look forward to hearing from Federica Taccogna at the event.
Register now: https://lnkd.in/eK-Pfiz

02/03/2021

OUR series kicked off today with compelling stories from women leaders in financial services and the European Parliament Read the sometimes deeply personal accounts of achievement in adversity and how much more must be done to break the glass ceiling Thank you to Frances Fitzgerald and Federica Taccogna for sharing your experiences.


https://zcu.io/YP45

WHEN I WAS asked whether the fight against financial crime and corruption needs women, my instinctive answer was ‘yes, of course’. I want to offer, however, a perspective on the topic that goes beyond the platitude and the token. The fight against financial crime needs women, because it needs di...

02/03/2021

BREAKING: European Banking Authority set to lose out as EU prepares to set up New AML Supervisor, independent of the Paris-based Banking Authority. New Supervisor, likely to be announced in weeks, will oversee nonbanking, insurance and securities aml in most radical shake up of antimoneylaundering and terroristfinancing in a generation. Body will likely be funded by levy on obliged entities.

https://zcu.io/zLIh

By Stephen Rae for AMLi THE BIGGEST ever shake up in European financial crime regulations is set to see the creation of a standalone AML Supervisor. EU oversight of money laundering and terrorist financing is likely to move away from the European Banking Authority (EBA) to the new independent Superv...

01/03/2021

FRANCE is the EU country mainly advocating a €10K limit on cash transactions, it's emerged. The European Commission last week circulated a confidential discussion document proposing outlawing cash purchase over €10,000.
https://zcu.io/zAqT

FRANCE has emerged as the EU Member State pushing for a €10,000 limit on cash sales, it’s emerged. French authorities want to see cash sales over the limit outlawed in an attempt to crack down on terror financing. “Cash transactions are a major issue here. The police and security agencies are ...

23/02/2021

MALTA looks set to impose a ban on cash transactions above €10,000 - just days after we reported the European Commission
canvassed Member State views on a similar proposal. The cash limit has been under consideration for some time in Malta but looks like it will come into effect soon as the island attempts to rehabilitate its aml reputation.

https://zcu.io/cWlV

By Vish Gain for AMLi A SIX-YEAR proposal to ban cash transactions over €10,000 is finally set to become law in Malta as the country tries to undo its reputation as a money-laundering hub. This comes days after the EU proposed the same move for the whole bloc which prompted mixed reactions from me...

23/02/2021

Register now for your FREE seat at : https://lnkd.in/eK-Pfiz

23/02/2021

BREAKING: HEAD of Germany's finance watchdog BaFin forced out as Wirecard scandal claims first major scalp. Comes in wake of revelations BaFin knew of AML concerns at payments giant in advance of its collapse. German finance minister says BaFin must be totally re-organized.

https://zcu.io/MPr6

By AMLi Correspondents THE HEAD of Germany’s financial watchdog Felix Hufeld has been pushed out by the country’s finance minister. Hufeld who led BaFin has been forced out in the wake of the Wirecard collapse scandal and after it emerged his agency knew of AML concerns in the payments company. ...

17/02/2021

EUROPE's FIUs could be forgiven for feeling unloved today as a joint think-tank reported described the units as "bottlenecks" in the aml battle. They weren't the only ones coming in for criticism from report of the bodies chaired by former Finnish Finance Minister and MEP Eero Heinäluoma who said European Public Prosecutor's Office (EPPO)
and the new European Commission Antimoneylaundering Singe Authority won't be enough to fight the dirty money problem.

https://zcu.io/V4HF

EUROPE’S FIUs have been described as a “bottleneck” within the bloc’s fight against financial crime, in a strong criticism of the EU’s AML regime. In a report released by a joint collaboration of two think tanks, chaired by MEP and former Finnish Finance Minister Eero Heinäluoma, experts ...

16/02/2021

EUROPE is considering plans to ban cash purchases of more than €10,000. In a discussion document just circulated to EU governments the European Commission says the cash limit could help the aml fight. The Member States will report back but already Germany has indicated it is not so happy.


https://zcu.io/B2mM

By Stephen Rae for AMLi THE EUROPEAN Commission is exploring the introduction of a ceiling on cash payments in discussions with representatives of the Member States. A discussion paper issued to national governments lists a limit of €10,000 as a possible effective measure against money laundering....

15/02/2021

Join us on the AML Intelligence Boardroom Series with David Lewis FRGS, Financial Action Task Force (FATF) Executive Secretary, as we discuss the global action on money laundering, its challenges and opportunities. Become a subscriber now to receive free entry into all our AML Intelligence Boardroom Series events.

https://lnkd.in/eaeRtHv

12/02/2021

UP to half of all dirty money flowing from Russia is funneled through the UK, an expert has warned.

National Economic Crime Centre director-general Graeme Biggar told British MPs this week that the system of corporate governance in the UK was being exploited by Russian financial criminals who will inevitably find it “too easy to set up companies here."

https://zcu.io/RYSJ

There is a ‘disturbing’ prevalence of Russian money laundering in London – enough to suggest that up to half of all dirty money flowing from Russia is channelled through the UK, according to one expert. National Economic Crime Centre director-general Graeme Biggar told MPs this week that the s...