AML / KYC

AML / KYC

EU Considers Lowering Wealth Threshold for Professional Investors

By Mark Johnston | 17/05/2023

A draft document reveals a European Commission plan to revise MiFID II rules to lower the criteria for being classified as a professional investor.

AML / KYC

EU Council Formally Adopts New Legal Framework for Crypto

By Sanday Chongo Kabange | 17/05/2023

New rules under MiCA cover issuers of utility tokens, asset referenced tokens, stablecoins, service providers such as trading venues, and wallets where crypto-assets are held.

AML / KYC

EU Enters Trilogue Discussions on Proposed New AML Authority

By Mark Johnston | 17/05/2023

The new Anti-Money Laundering Authority would directly supervise high-risk financial entities and coordinate national authorities and FIUs.

AML / KYC

Australia: New Cross-Industry Code to Require Banks to Reimburse Scam Victims

By Editors | 16/05/2023

The code will be enforceable and set clear expectations on the obligations of banks, telcos and social media platforms.

AML / KYC

Indian Authorities Investigating Three ‘Top Brokers’ – Reports

By Editors | 16/05/2023

Three top brokers, who were not named, were found to be engaged in “large-scale money laundering activities” with the involvement of PEPs.

AML / KYC

IMF Offers New Guidance on Combatting Terrorism Financing

By Editors | 16/05/2023

New downloadable book presents contributions by experts from the IMF, UN, Egmont Group, INTERPOL, and Europol.

AML / KYC

Australian Banks Launch New Fraud Reporting Platform

By Editors | 16/05/2023

The platform streamlines communications so banks can alert each other in real time when funds have been sent to a suspected scammer’s account.

AML / KYC

The Financial Action Task Force’s Challenge with Russia

By Fatima Alsancak | 15/05/2023

RUSI’s Fatima Alsancak says the FATF should consider Russia’s invasion of Ukraine as an impetus to update its standards and country assessment process to address corruption.

Capital / Liquidity

G7 Leaders Pledge to Maintain Resilience of Global Financial System

By Editors | 15/05/2023

The G7 communique vows stepped-up sanctions enforcement, and readiness to act on financial stability, climate change, and crypto-asset activities.