Letting agents: They are now required to report monthly rents received in excess of EUR10,000 Crypto asset exchange providers and custodian wallet providers: All new businesses that will have activities in the UK are required to be registered with the Financial Conduct Authority (FCA). All existi...
The text of the fifth Anti-Money Laundering Directive (5AMLD) has been published in the Official Journal of the EU. 5AMLD will amend the fourth Anti-Money Laundering Directive (4AMLD). It must be transposed by member states into national law by 10 Janu
The report also discusses how kleptocracy undermines not only the countries where the assets were stolen, but also the transit or destination points for kleptocratic money, people, and other resources. While it might seem like an infusion of money, assets, and rich people into a given country...
Brazil’s 1992 Administrative Improbity Law, which authorized severe sanctions on government agents who commit “acts against the public administration,” was the first Brazilian statute specifically targeted at government corruption. Last year, Brazil adopted extensive amendments to this law, many of wh...
According to the Financial Review, the reason is fierce opposition from Australian lawyers and real estate agents to what a FATF review of Australian compliance with the anti-money laundering recommendations would reveal. For 13 years the two have blocked the extension of the Australian anti-money ...
5MLD has also extended real estate to include rental properties, meaning letting agents who rent luxury properties with prices above €10,000 per month are also subject to the legislation. Professional institutes such as the Institute of Chartered Accountants England and Wales have also issued guidan...
letting NYPD and other City Government employees park illegally with no consequences. The DOI also found that the NYPD “has no written policies or procedures” for enforcing parking laws in the areas around police precincts and other government buildings in NYC, and Traffic Enforcement Agents told...
countries (that is, the countries whose public officials took the bribes) can go after individuals under their jurisdiction. Such individuals would include, most obviously, the government officials who took the bribes, but might also include third-party intermediaries and other local agents over whom...