04/14/2021
Terminal fraud attacks in Europe drop during Covid-19
Most losses remain international issuer losses due to card skimming, which were €183 million.
Legal, Regulation & Compliance
04/14/2021
Swiss money laundering probe eyes Lebanon central bank chief: report
Contacted by AFP, the Swiss attorney general's office confirmed Tuesday that its aggravated money laundering probe involving Lebanon's central bank was ongoing, but refrained from further comment.
04/14/2021
When your friends become your executioners: Court of Appeal holds authorised execution-only firm liable for the wrongdoing of unauthorised introducer
The High Court dismissed Mr Adams’ claim – see our earlier briefing note on that judgment here.
04/14/2021
Lawyers remain laggards in adopting money laundering risk assessment tools
Only 57% of lawyers had a business risk assessment in place last year, placing them last in a list of sectors that includes credit institutions, gaming companies, trust services providers, notaries and accountants
04/14/2021
Malta launches new citizenship by investment programme
It is a member of the EU and offers its citizens visa free travel to over 180 countries.
04/13/2021
Change bank capital rules to boost climate action - survey
The proposal drawing the most support was for regulators to impose tougher rules around the amount of capital banks need to keep as a buffer if they want to lend to companies responsible for emitting high levels of greenhouse gases.
04/13/2021
Financial Regulation: Daily Update
The European Central Bank (ECB) has published a document on the use of distributed ledger technology (DLT) in post-trade processes.
04/13/2021
Interoperability crucial for DLT in post-trade processes - ECB
In parallel, the ECB says clear and sound governance of service and functions should be ensured in a DLT environment, with a consolidated approach based on regulatory licences and conduct of business rules.
04/13/2021
Halifax refuses to repay £10k to fraud victim
The fake officer said her NI number had been cloned by a money laundering suspect in Wales, and the fraudster frightened Ms E into "clearing her name and preventing her bank accounts from being frozen" under anti-money laundering regulations.
04/13/2021
German prosecutors probe bank regulator’s role in Wirecard collapse
Bafin’s lax oversight let Wirecard's massive accounting fraud to go on for years
04/13/2021
The war against money-laundering is being lost
The global system for financial crime is hugely expensive and largely ineffective
04/13/2021
Denmark charges six from US, UK over tax fraud scheme
The six people were charged with running the scheme via Germany’s North Channel Bank in 2014 and 2015, the prosecutor said.
04/13/2021
Police seek arrest of Italian middleman in Vatican property deal
Police code-named it “Operation Broking bad,” an apparent play on the TV series “Breaking Bad”.
04/13/2021
Cyprus Launches New Registry that Identifies Company Owners
The plan included the establishment of the UBO registry - an already existing obligation under the EU’s 4th anti-money laundering directive.
04/12/2021
Barclays respond after plea to rethink closure of Newton Aycliffe branch
In his letter to Barclays Cllr Marshall, the cabinet portfolio holder for economic regeneration, said the closure comes as the area is seeing business and residental growth.
04/12/2021
HSBC scam warning as Britons attacked by vicious ‘alert’ text message - be vigilant
HSBC has issued another warning to Britons as many have reported being targeted by a vicious text scam within the past 48 hours.
04/12/2021
UK set to secure Brussels’ backing for joining legal pact
European Commission to drop objections to British membership of Lugano convention
04/12/2021
Carey Olsen advises Emergent Capital on completion of its restructuring
Working alongside the transaction's lead legal advisers Kelley Drye & Warren LLP and Arthur Cox, the Carey Olsen team advising Emergent on the Cayman corporate and regulatory aspects of the restructure was led by partner Alistair Russell and coun
04/12/2021
Controversial fundraising rules for NGOs being watered down
The rules will be redrafted after consultations
04/12/2021
Bank of England tops private investors as biggest holder of gilts
‘Striking’ rise in UK government debt holdings comes as central bank stepped up QE during Covid crisis