Anti-money laundering and Bribery

 

Latest Reports

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    On 14 April 2021, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) sent a “Dear CEO Letter” to the chief executive officers of banks and building societies regarding the use of deposit aggregators and how to mitigate some of the key risks (link). However, the regulators were also ...

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    In order to maintain the integrity of financial markets and prevent corruption and terrorism, governments must take a robust approach to money laundering and terrorist financing in step with a coordinated global strategy. The European Commission and other international organisations have issued directives and guidances with standard rules and regulations ...

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    Following the entry into force of Regulation (EU) 2019/2175 of the European Parliament and of the Council on 1st January 2020 (the "Regulation"), the European Banking Authority ("EBA") is from now on entrusted with all anti-money laundering and counter terrorist financing ("AML/CTF") mandates previously held by the three European supervisory ...

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    In December 2018, the German Federal Financial Supervisory Authority (“BaFin”) published its general Guidance on the construction and application of the German Anti-Money Laundering Act ("GwG"). This Guidance was addressed to all persons and companies who are subject to GwG. On 31 January 2020, BaFin published further Guidance with special ...

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    The UK’s decision to leave the European Union led insurance companies established in the UK to consider other options, such as relocating their place of business to continental Europe. In the midst of this contingency planning, Luxembourg emerged as a popular jurisdiction. The stability of its government, its triple A ...

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