What is the scope of the new new EU AML/CFT Authority (AMLA)? The Authority will have two main areas of activity: AML/CFT supervision and supporting Europe’s Financial Intelligence Units (FIUs). The AMLA will become the centre of an integrated system of national AML/CFT supervisory authorities, ensuring their mutual support and cooperation. The aim is supervisory…
Regulatory Watch News
The Bank of Russia made this decision in accordance with Clauses 6 and 6.1 of Part 1 of Article 20 of the Federal Law ‘On Banks and Banking Activities’,2 based on the facts that RUNA-BANK:
- violated federal banking laws and Bank of Russia regulations, due to which the regulator repeatedly applied measures against it over the past 12 months, which included restrictions on household deposit-taking;3
- failed to comply with the anti-money laundering and counter-terrorist financing laws.
Two men have been sentenced to jail for their roles in crewing a yacht that was intercepted off the NSW coast in April 2020 and found to contain 991.9 kilograms of methamphetamine. The estimated street value of this amount of seized methamphetamine is $495 million.
European customs and police authorities have seized nearly 1.8 million litres of wine and alcoholic beverages in a targeted action led by the European Anti-Fraud Office (OLAF), as part of the joint Europol-Interpol operation OPSON X.
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