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NEWS: AMLA’s ‘real task’ is to standardize AML rules across the EU, Dr Marcus Pleyer tells IAFCS 2024

Premium October 16, 2024

Dr. Marcus Pleyer during his keynote speech at the International Anti-Financial Crime Summit 2024 (IAFCS2024) in London

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NEWS: Anti-fraud startup Bureau raises $30M, PayPal Ventures among investors

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NEWS: Canada’s AML penalties to surge 40 times higher after TD Bank controversy

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NEWS: FinCEN confirms US companies don’t have to file beneficial ownership details, Texas injunction stays in place

BY PAUL O’DONOGHUE, Senior Correspondent

The focus of the EU’s new AMLA regulator should be to ensure AML rules are standardized in all 27 member states across the bloc, Dr Marcus Pleyer has said.

Dr Pleyer, one of the final three names in the running for the role of chair of the AML Authority (AMLA), told the International Anti-Financial Crime Summit 2024 that the new body should simplify regulations for financial institutions.

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Premium

NEWS: Anti-fraud startup Bureau raises $30M, PayPal Ventures among investors

 Premium

NEWS: Canada’s AML penalties to surge 40 times higher after TD Bank controversy

 Premium

NEWS: FinCEN confirms US companies don’t have to file beneficial ownership details, Texas injunction stays in place

Regulatory Watch News

  • Financial sanctions update: Belarus

    OFSI

    On 19th December 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entry has been amended under the Belarus financial sanctions regime and is still subject to an asset freeze:

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  • Oman’s measures to combat money laundering and terrorist financing

    FATF

    Paris, 19 December 2024 - Oman has significantly improved its legal, operational and supervisory framework on anti-money laundering and countering terrorist financing (AML/CFT) in recent years through robust technical compliance with the FATF Recommendations. Oman is achieving positive results in the use of financial intelligence, international cooperation, combating terrorist financing and implementing financial sanctions for proliferation financing. However, in some areas, more time and effort are needed for measures and reforms introduced to impact the effectiveness of Oman's AML/CFT system.

  • Spain: EPPO dismantles organised crime group that evaded €3.3 million in antidumping duties

    European Public Prosecutor's Office

    (Luxembourg, 19 December 2024) – In an investigation led by the European Public Prosecutor’s Office in Madrid (Spain), the Spanish Guardia Civil and the Tax Office, with the support of Europol, have dismantled an organised crime network operating in Spain since 2020. The network, controlled by nine individuals and involving a sophisticated structure of companies, located in different countries, is thought to have evaded over €3.3 million in antidumping duties.

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