The article presents information on the features of the new Ukrainian antimoney laundering law. The law is enacted in August 2010 and is the new version of the Law On the Prevention of and Counteraction against the Legalisation (Laundering) of the Proceeds of Crime and Terrorism Financing (the...
The UK amended its anti-money laundering (AML) framework on 10 January 2020, enforcing Money Laundering and Terrorist Financing (Amendment) Regulations 2019. The following are the high-level changes it makes to comply with standards set by the Financial Action Task Force (FATF) and the EU’s ...
Anti-money laundering (AML) refers to legally recognized rules, national and international, that are designed to thwart hiding criminal profits inside the financial system. Customer due diligence (CDD) refers to practices that financial institutions implement to detect and report AML violations. ...
Money laundering cases may be resolved with the DOJ outside of the judicial process. Those resolutions may involve a guilty plea, Deferred Prosecution Agreement, Non-Prosecution Agreement or declination. For entities, in accordance with the DOJ’s Corporate Enforcement Policy, the type of resolution ...
The European Council recently adopted new anti-money-laundering (AML) rules. The rules are intended to strengthen and harmonize the European Union’s (EU) AML framework by including the crypto sector and establishing an authority for the supervision and identification of AML threats and risks. For...
While reaping the rewards of a flourishing crypto market many nations ignore the need for stringent AML rules to eliminate illicit activities and threat entities. With cryptocurrency hiking rocky terrains and attracting billions from investors worldwide, there is an urgent need for the standardization ...
Steptoe provides legal advice on all aspects of anti-money laundering (AML) rules and regulations. With its deep bench of US-, UK-, EU-, and Hong Kong-based lawyers, Steptoe helps companies navigate this complex and overlapping legal and regulatory AML landscape – from the implementation of ...
11 -- The Council of the European Union (EU) on Thursday adopted a new anti-money laundering directive that introduces new criminal law provisions and will disrupt and block access by criminals to financial resources, including those used for terrorist activities. The new rules include ...
Customer due diligence (CDD)refers to the inspection financial institutions (and others) are expected to carry out to prevent, identify, and report violations. Anti-money laundering (AML) is the general term for the laws, rules, and processes that prevent money laundering. Customer due diligence...
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