The criminal offense of money laundering (Section 261 of the German Criminal Code) was profoundly restructured by the “Act to Improve Criminal Law Combating Money Laundering” (Money Laundering Act) which came into effect on March 18th 2021. This new regulation […]
While Turkey has been an ally to Western countries since the mid-20th century, recent geopolitical developments have created tensions with the United States (US), the United Kingdom (UK), and the European Union (EU). Turkey is a member of several global […]
Geopolitical developments in and around Ukraine, including the invasion of Crimea in 2014, have generated a significant amount of international concern in recent years. Many Western governments have responded to these developments by introducing economic sanctions against Russia and Ukraine. […]
Finland has one of the largest per capita economies in the European Union and attracts a range of foreign business interests. As a trade hub, Finland also deals with threats to its financial system as criminals seek to exploit vulnerabilities […]
Germany is the European Union’s largest economy and attracts wealth and investment interests from around the world. Unfortunately, as a business hub, Germany is also a popular target for criminals who seek to exploit its financial system to launder illegal […]
One of the largest and wealthiest economies in Europe and the world, Denmark is home to a diversity of business interests including numerous international enterprise organizations. While Denmark’s status as a business hub has contributed to economic growth, it also […]
Brexit and AML/CFT: What Does the Future Hold for the UK & EU? The UK and EU opted for a “minimalist” approach on the management of AML/CFT, with only broad agreement on following shared norms and cooperation. No formally defined […]
Money Laundering in Belgium One of Europe’s wealthiest countries, Belgium has a highly developed financial landscape, hosting institutions and service providers from across the EU and the world. In order to manage the threat posed by financial crimes such as […]
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 […]
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 EU imposes economic sanctions against foreign governments, organizations, and individuals in order to achieve its foreign policy objectives, protect its security interests, and punish violations of international law, including human rights abuses. In order to record and divulge sanctions […]
The European Union deploys sanctions against targets around the world as part of its Common Foreign and Security Policy (CFSP). While sanctions are imposed in order to protect the EU’s security interests, or to address violations of treaty agreements and […]
