This outline of anti-money laundering and anti-terrorist financing (AML/ATF) in Canada summarizes the most recent legislation and changes to AML regulations. This includes the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), FATF’s most recent mutual evaluation, Canada’s […]
A man from New York and a woman from Oklahoma have been arrested for allegedly obtaining a Paycheck Protection Program (PPP) loan under false pretenses and laundering nearly $1 million, US officials announced on June 11, 2021. According to the […]
The European Commission (EC) has taken legal action against Luxembourg for failing to implement AML regulations in a timely manner and has asked the European Court of Justice (ECJ) to enforce punitive measures. Should the ECJ rule in the EC’s […]
According to the UK’s Financial Conduct Authority (FCA), several crypto businesses are struggling to meet the regulator’s high bar for anti-money laundering controls. As a result, many of these firms may be forced to stop trading and shutter their doors. […]
How To Prepare For 6AMLD: Checklist The European Union introduced the Sixth Anti-Money Laundering Directive (6AMLD) on 3rd December 2020. All financial institutions within EU member-states must be compliant with 6AMLD by 3 June 2021: in practice this means that […]
Common Challenges Organizations Face when it comes to Global Sanctions Compliance Global sanctions are an indispensable foreign policy tool, helping governments achieve diplomatic and political objectives in every part of the world, and respond to violations of international law, including […]
Regulated financial institutions must become compliant with the European Union’s Sixth Anti-Money Laundering Directive (6AMLD), which is a highly coordinated effort by the EU to crack down on financial crime that imposes much tougher penalties for breaches. The ever-widening scope […]
North Korea & Cryptocurrency: What You Need To Know The Democratic People’s Republic of North Korea (DPRK) has a well-documented history of conducting illegal financial activities in order to circumvent the heavy sanctions that are imposed against its totalitarian government. […]
International sanctions have been an effective foreign policy tool for the United States government since the 1950s when the Office of Foreign Assets Control (OFAC) imposed restrictions on Chinese and North Korean trade as a response to the Korean War. […]
On May 20th, we announced an investment by Goldman Sachs Growth Equity in ComplyAdvantage, which extends our oversubscribed Series C funding round to $70 million. We’re delighted that Goldman Sachs is joining our growing list of world-class investors, including the […]
BaFin put N26 on warning once again for their lax anti-money laundering controls, according to an announcement made by the German regulator on Tuesday, May 11. The digital bank has been ordered to “rectify deficiencies both in IT monitoring and […]
The Importance of Customer Experience for Banks The COVID-19 pandemic has accelerated digital transformation. As a result, digital customer experience plays an increasingly important role in the competitive landscape. This is no less true in the banking and financial services […]
EN