EU Raises ‘Loophole Risk’ With New AML Regime
Transparency advocates are giving tempered praise to a new anti-money laundering regime proposed this month by representatives of the European Parliament and the Council of the European Union. The new rules would mandate that member states create centralised registers of beneficial ownership behind companies, but outsiders such as journalists or ...
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
Article
U.S. Failures to Track Beneficial Owners Create AML Headaches Internationally
Image: Despite the forward march in Europe and elsewhere to fight money laundering, a problem remains: Here at the largest economy in the world, state incorporation laws in the United States create a massive loophole that bad actors can exploit. “It’s a huge problem not just for the United States ...
-
Article
Doing God’s Work: Compliance Reform at the Vatican Bank
Image: The Istituto per le Opere di Religione, commonly known as the Vatican Bank, suffered for decades from poor internal controls and conduct. How has the Holy See tried to recover? Slowly, surely, and with a risk-based approach following international standards. “The expectations are huge in building trust and confidence, ...
-
ArticleU.K. sets out strategy to combat bribery and corruption
The U.K. is introducing tougher safeguards and compliance checks in its latest drive to cut down on financial crime and stem the flow of dirty money that continues to be laundered by British businesses, facilitated by accountants and lawyers.