Despite being the second-smallest country in Europe, Monaco is considered a major international banking center. It is not a member of the European Union but uses the euro through a monetary union with France that was established in April 1945.…
8 minute read
The October 2024 Plenary meeting of the Financial Action Task Force (FATF) in Paris, led by President Elisa de Anda Madrazo, concluded with several critical updates for compliance professionals, including: Completion of the FATF’s fourth evaluation cycle. Changes to the…
7 minute read
The first recorded use of sanctions was in 432 BC, and while they’ve only been commonly used in their current form for several decades, the fundamentals of how they’re applied haven’t changed. Yet technological advances have reshaped the world around…
6 minute read
Money launderers and those involved in other types of financial crime often leverage businesses to channel and disguise the proceeds of crime. To protect themselves and comply with regulations, businesses must understand and implement the core principles of anti-money laundering…
6 minute read
Hafnia is a shipping company specializing in the transportation of energy commodities such as gasoline, diesel, and jet fuel. It combines a wealth of industry expertise with a modern fleet of approximately 200 vessels designed for efficient and safe transportation,…
2 minute read
Phillips is a premier global auction house specializing in the sale of fine arts, antiques, and collectibles. Founded in 1796, its primary auctions and exhibitions are held in New York, London, Geneva, and Hong Kong, with operations extending across Europe,…
3 minute read
Named by the Council of Europe as one of the most recurrent predicate offenses of money laundering, corruption is considered one of the greatest threats to economic development and good governance. For this reason, it was also listed as a…
5 minute read
In February 2024, the European Parliament issued new regulations to ensure financial transactions reach their recipients instantly across the European Union. The new rules update certain regulatory requirements for banks and other types of payment service providers (PSPs). In addition…
7 minute read
Monex is a global e-money institution that specializes in commercial foreign exchange (FX) services. Headquartered in Mexico, the Monex group of companies has experienced significant growth in recent years, serving a wide range of customers from financial institutions (FIs), large corporates,…
4 minute read