On January 1st 2017 New York State’s Department of Financial Services (DFS) Part 504 went live. This rule provides a clarification on how OFAC and other lists are screened and how transactions are monitored. The impacts of this rule may…
AML/CTF Regulation 2017 – Dates for the Diary
As 2016 draws to a close we highlight the main AML/CTF regulatory changes that will come into force in 2017. What does the year ahead have in store for regulated industries and how this will shape 2018? 2017 to 2018…
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…
WORKING IN PAYMENTS? Here’s what you need to know to stay compliant with MLD4
(Part 1 of 2) First introduced in 1991, the EU’s Money Laundering Directives aim to prevent money laundering and other financial crimes such as terrorist financing. The Fourth Money Laundering Directive (MLD4) was passed in 2015 and all EU states…
FinTech Connect Live: Three Things That Make London the Place to Be
Dubbing it “the heart of fintech”, FinTech Connect Live is concentrating over 2,000 attendees and 100 sponsors in London for a two day exhibition next week. They have chosen their location well: taking over 68% of European Fintech investment in…
Cryptocurrency, Financial Crime and Regulation
The recent HM Treasury publication, “Digital Currencies: response to the call for information”, reported that 80% of respondents believe digital currency requires a form of regulation. In addition, due to the anonymous nature of digital currency, participants acknowledged that money…