This article will focus on one of the most recent initiatives by the EU, which underlines the continued importance of revising and improving existing anti-money laundering/ counter-terrorist financing (AML/CTF) legislative frameworks both within the individual member states and also in a cross-border context in terms of the cooperation between relevant national authorities.
Anti-Money Laundering
Cyprus—Becoming a geopolitical hub in Europe?
Europe’s upcoming Fourth AML/CFT Directive
In February 2013, the European Commission adopted two proposals: the Fourth AML Directive and a complementary regulation on what information must accompany fund transfers to ensure traceability. The European Parliament’s and European Council’s so-called “draft directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”…
4th EU Money Laundering Directive – New challenges for companies
Business partner screening and risk assessment in the prevention of money laundering
Implementing the 4th EU AML Directive
An integrated approach to business partners compliance
Singapore picks up the pace in combating economic crime
The road to FATCA and the Fourth EU Directive– Customer Due Diligence requirements revisited
Financial institutions are faced with the challenge of aligning their existing Know Your Customer (KYC) due diligence processes to meet FATCA requirements. This article outlines the background and international discussions regarding tax evasion and the ongoing debate to curtail it, and seeks to touch upon the impact it will have in dealing with should be: high-risk clients in regions, which are considered high risk for tax evasion.