MLROs.com’s Money Laundering News

European Council Set Out Next AML Actions

European Council Set Out Next AML Actions   The European Council has adopted new priorities on AML and CFT measures, in which MLD5, CRD5 and the ESAs will be critical. The Council now wants the Commission to look at how it can further enhance...

Read More

FCA: New Form (Cyber Resilience Questionnaire)

FCA: New Form (Cyber Resilience Questionnaire)   The FCA has published a new cyber resilience questionnaire. The questionnaire must be completed by competent parties and signed-off at board level as a “true and accurate reflection of the...

Read More

Basel Committee Consults on AML Co-Operation

Basel Committee Consults on AML Co-Operation   The Basel Committee on Banking Supervision is consulting on draft guidelines on interaction and cooperation between prudential and AML/CFT supervision. It wants to enhance the effectiveness of...

Read More

FATF Consults on Digital Identity

FATF Consults on Digital Identity   FATF is consulting on the use of digital ID systems for CDD.  It has published some currently unapproved guidance and is asking for views on a number of key issues. It asks for comment by 29 November....

Read More

SRA Calls for more AML Action

SRA Calls for more AML Action   The Solicitors’ Regulation Authority has updated its warning notice to solicitors, stressing the need to have in place appropriate AML measures.  Despite previous warnings, it still found many firms did not...

Read More

Treasury Committee Calls for Bank Actions on COP and Financial Crime Prevention

Treasury Committee Calls for Bank Actions on COP and Financial Crime Prevention   The Treasury Committee has published its response to the second strand of the Economic Crime enquiry, looking at the effects of financial crime on consumers. ...

Read More

Treasury Updates High-Risk Jurisdictions

Treasury Updates High-Risk Jurisdictions   Treasury has updated its AML advisory notice, following the recent FATF meeting.  There is no change to the advice on North Korea and Iran.  The counties in relation to which Treasury recommends...

Read More

Regulatory Risks of Stablecoins in Focus

Regulatory Risks of Stablecoins in Focus   The emergence of global stablecoins has been a focus point over the past few days, with the FSB, FATF and the G7 Working Group on Stablecoins all publishing statements on the impact and risks of the...

Read More

FCA Writes to UK Finance on SARs and STORs

FCA Writes to UK Finance on SARs and STORs   FCA has published a letter it wrote to UK Finance in September explaining its responsibilities in relation to SARs and STORs under MAR.  The key point the letter makes is to stress that, while FCA...

Read More

FCA Consults on AML Crypto Supervision Costs

FCA Consults on AML Crypto Supervision Costs   FCA is consulting on how it will recover the costs it will incur when it becomes the AML/CTF supervisor for crypto-asset business from 10 January 2020.  Treasury has not yet finalised the...

Read More