Thursday, February 25, 2021

regulations

Cyprus passport still up for sale amid tougher AML checks

Cyprus says it is introducing tougher anti-money laundering checks in its “golden passports” program, under which it gives citizenship to foreigners who invest large sums in the east Mediterranean country. Interior Minister Nicos Nouris said Wednesday that the government is...

Retirement services firm Athene pays $45 million fine for operating without license

Athene Holding Ltd agreed on Monday to pay a US$45 million civil fine to settle charges it conducted insurance business in New York without a license, the first settlement in a probe into an industry where life insurers take...

Qatar central bank adopts new regulations for anti-money laundering law

Qatar Central Bank (QCB) has announced the adoption of the new executive regulations for Law No. (20) of 2019 issuing the Anti-Money Laundering and Combating the Financing of Terrorism Law, which is based on the innovative and strict regulatory...

Coca-Cola Israel fined $11 million for abusing monopoly position

The Israel Competition Authority announced on Tuesday that it had fined Coca-Cola Israel 39 million new shekels (about 11 million U.S. dollars) for its abusing of monopoly position. The authority mentioned six infringing actions by the company, which manufactures and...

Bank of England audio feed illegally accessed by HSBC and JPMorgan traders – FT

Traders at HSBC Holdings Plc and JPMorgan Chase & Co. are among those who accessed a high-speed audio feed of Bank of England press conferences, according to the Financial Times, which cited an unidentified person. HSBC and JPMorgan declined to...

Managing the Impact of AML Compliance: Technology vs. Human Capital

Anti-money laundering (AML) compliance costs have continued to increase at a dramatic pace. Our recent study projected that the cost of compliance for U.S. and Canadian financial services firms will total $31.5 billion this year. For large and small...

Germany: Anti-Corruption & Bribery Comparative Guide

1 Legal and enforcement framework 1.1 Which legislative and regulatory provisions govern anti-corruption in your jurisdiction, from a regulatory (preventive) and enforcement (criminal) perspective? In Germany, the fight against corruption is primarily governed by criminal law. The acceptance of benefits, passive...

France: Anti-Corruption & Bribery Comparative Guide

1 Legal and enforcement framework 1.1 Which legislative and regulatory provisions govern anti-corruption in your jurisdiction, from a regulatory (preventive) and enforcement (criminal) perspective? Prevention: Until recently, French law did not expressly require companies to implement preventive measures to combat corruption....

Australian Mutual Banks very vulnerable to money laundering – Report

Australia’s mutual banking sector is urged to take note of Australia’s latest money laundering and terrorism financing risk assessment report specific to the sector. Released by AUSTRAC today the report finds that while the mutual banking sector had a high...

Angolan parliament approves draft anti-money laundering and prevention law

The draft Law on Preventing and Combating Money Laundering, Financing Terrorism and the Proliferation of Weapons of Mass Destruction on Tuesday was unanimously approved in general by the Angolan parliament. With the general approval, which took place at the first...

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Chicago political operative Roberto Caldero charged in bribery probe

For decades, Roberto Caldero was an influential behind-the-scenes player in politics at all levels in Chicago and Illinois, with...
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