New screening and monitoring requirements for Politically Exposed Persons (PEPs) in Canada have recently been implemented. To remain compliant banks and payment processors will have to implement a much more wide-reaching AML regime than ever before. Financial institutions will have…
europos Partners with Form3
europos is proud to announce a partnership with Form3, the leading Payments-as-a-Service platform, to enhance their sanctions screening and security for cross border payments. Form3 brings a fresh approach to payments technology, streamlining processing and customer experience and needed a trusted AML data…
4MLD – Changes to the Status of PEPs
Is your business ready for the changes coming with 4MLD? The UK government is in the process of transposing 4MLD into UK legislation via the Money Laundering and Transfer of Funds (Information on the Payee) Regulation 2017, which will come…
europos Partners with Global Gaming
europos is proud to announce that it has partnered with Global Gaming to help fight financial crime in online gaming. Global Gaming offers B2C and B2B gaming products and services in regulated and emerging markets around the world and has…
WORKING IN PAYMENTS? Here’s what you need to know to stay compliant with MLD4 (Part 2)
(Part 2 of 2) The EU’s Fourth Money Laundering Directive (MLD4) will be implemented in the UK by the end of this month and in the rest of the EU by the end of the year. On Monday we started…
Is HSBC Stopping Terrorist Money Laundering? Whistleblower Urges Federal Reserve to Reopen $1.9 billion Settlement
In 2012, HSBC paid a record $1.9 billion fine to settle money-laundering accusations. Yet in a letter to the Federal Reserve, which he publicised this September, ex-employee Everett Stern (among a number of other weighty allegations) accused HSBC of ongoing…
Barclays Hit by £72 Million Fine For Slack Checks on Rich Clients
Barclays was dealt the largest disgorgement penalty ever imposed by the FCA, after a damning report found that it was lax in checking rich politically exposed clients, who were part of an “elephant” £1.9 billion “deal of the century”, because…
AMLD4 and Domestic PEPS
AMLD4, the 4th amendment to the Anti-Money Laundering Act will update the European Union’s existing Anti-Money Laundering and Counter-Terrorist Financing laws by implementing recommendations made by the Financial Action Task Force, the international global standard setting body of AML and…
Why is HSBC unable to resolve its money-laundering issues?
The wave of fines levied against financial institutions has not stopped since the financial crisis of 2008 precipitating financially and reputationally expensive recapitalisations of British and international banks. Despite this, even by 2015, the waves of fines is ongoing, as…
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