Topic: Anti-money laundering

ECJ strikes down public access to beneficial ownership register

The EU’s top court has overturned a provision of the EU’s anti-money laundering directive that would grant public access to beneficial ownership registers on privacy grounds.

24 November 2022

FATF seeks comments on guidance on beneficial ownership recommendation

The Financial Action Task Force has published its final proposed guidance on beneficial ownership of legal persons, after a revisions process lasting over two years.

27 October 2022

Abu Dhabi unveils crypto principles

The Abu Dhabi Global Market, Abu Dhabi's financial centre, has announced new principles guiding its approach to virtual asset supervision as it vies with Dubai for the role of the region’s crypto hub.

15 September 2022

HSBC freed of 10-year Fed order

The US Federal Reserve has ended a 10-year-long enforcement action against HSBC for failures in its anti-money laundering procedures.

07 September 2022

Greylisted UAE takes Wise to task for AML failures

The financial regulator of Abu Dhabi’s free zone has fined fintech Wise for a series of poor money laundering controls, months after the FATF cited the UAE’s lax enforcement against money laundering in its decision to greylist the country.

01 September 2022

Swiss legislation “lagging behind” in AML fight

Switzerland’s federal auditor has criticised the country’s anti-money laundering legislation, saying it fails to anticipate developments at international level – but its recommendations have already received government pushback.

01 September 2022

Introducing the BBF: Germany to create new AML authority

Germany will create a new regulator to tackle money laundering and other financial crime, as a report from the Financial Action Task Force says the world’s fourth-biggest economy needs to be more proactive in its AML efforts.

25 August 2022

FATF plans for trust ownership rules criticised as “vague”

Industry bodies have complained the Financial Action Task Force’s plans to tighten rules around beneficial ownership of trusts are too “truncated” to properly tackle the matter.

04 August 2022

Credit Suisse fined in Swiss money laundering case

A Swiss court has fined Credit Suisse over deficiencies in its anti-money laundering controls dating back to 2007.

29 June 2022

EU’s new AML regulator a “risky endeavour”, ACAMS conference told

The European Commission’s plan for  a bloc-wide anti-money laundering authority is a “risky endeavour” and its wider legislative package falls short on effectiveness, according to a senior figure at Dutch bank ABN Amro.

20 June 2022

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