interview the directors, supervisors, officers and persons directly responsible for anti-money laundering work of financial institutions according to applicable provisions, requiring them to explain relevant matters, and remind financial institutions of problems in performing their anti-money laundering ...
System Building The Bank established an AML management framework with sound organization, a complete structure, and clear responsibilities, and included money laundering risk into the comprehensive risk management system. The Board of Directors, the Board of Supervisors, and the senior management of the...
Anti-Money Laundering RegulationUsing a unique data set, this paper studies the governance of anti-money laundering supervisors known as Financial Intelligence Units (FIUs). Starting from a thBartolozzi, DiegoGara, MarioMarchetti, Domenico Junior...
We are also experienced in representing individuals and firms placed under investigation by regulators including the FCA, the Gambling Commission, and professional body supervisors. Our well-regarded team consists of regulatory, criminal and compliance experts including former FCA and professional body regul...
"exemption of liability for those who have fulfilled their duties", stipulating that punishment is not necessary if the directors, supervisors, senior managers or other directly responsible persons of a financial institution can prove that they have diligently and dutifully taken anti-money laundering ...
The International Monetary Fund (IMF) has published an analysis of anti-money laundering in Finland. At the request of the Nordic and Baltic countries, the IMF analysed threats and vulnerabilities stemming from money laundering and terrorist financing in the region. The results of the report were ...
Cross-border obliged entities which fall under the direct supervision of the new Anti-Money Laundering Authority will benefit from having a single supervisor instead of a number of different national supervisors, simplifying their compliance. Cross-border obliged entities that do not fall under the dir...
Suggestions for better cooperation and information sharing among anti-money laundering and prudential supervisors, however, risk being ineffective, as long as the underlying incentives to engage in international regulatory competition towards low enforcement of anti-money laundering standards are not addressed...
It identifies shortcomings in the reaction time of national supervisors and in the level of cooperation and information sharing both between prudential and anti-money laundering supervisors and on a cross-border basis between EU supervisors and other supervisors based both within and outside the EU. ...
supervisors/regulators,doestheFIclienthaveaninternalaudit functionorotherindependentthirdpartythatassessesAML policiesandpracticesonaregularbasis? YN 5.DoestheFIhaveapolicyprohibitingaccounts/relationships withshellbanks?(Ashellbankisdefinedasabank incorporatedinajurisdictioninwhichithasnophysical ...