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The European Union’s 6th Anti-Money Laundering Directive (6AMLD) brought about four key changes that member states had to introduce into local legislation by June 3rd 2021. Broadly categorized under the themes of liability, punishment, cooperation and jurisdiction, these changes have implications for […]
5 minute read
Understanding where customers have obtained the money that they are using to carry out transactions and make investments is an important part of the Know Your Customer (KYC) process and integral to AML/CFT compliance. As money launderers use increasingly sophisticated […]
6 minute read
In 2021 the Bank for International Settlements (BIS) published a report entitled Supervising cryptoassets for anti-money laundering, which has important implications for those working in the crypto space. The BIS promotes international cooperation amongst central banks, and its 63 members account […]
8 minute read
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 […]
4 minute read
From Central Bank Digital Currencies (CBDCs) to non-fungible tokens (NFTs) financial service use cases enabled by blockchain are evolving rapidly. For virtual asset service providers (VASPs), the rate of change is both exhilarating and overwhelming. How do you establish best […]
4 minute read
On June 30, 2021, FinCEN published the first U.S. government-wide list of national priorities for anti-money laundering and counter-terrorism financing (AML/CFT) and the Bank Secrecy Act (BSA). FinCEN collaborated with the staff of several offices in the Department of the […]
9 minute read
