All EMEA articles – Page 15
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NewsDenmark improves FATF compliance overall but downgraded on efforts to regulate VASPs
Denmark’s efforts to improve its anti-money laundering (AML) legislation have been rewarded with a higher technical compliance rating in five areas, but has been downgraded on its efforts to curb Virtual Asset Service Providers (VASPs)
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NewsConsumer body says TikTok potentially breached GDPR
TikTok may have breached the General Data Protection Regulation (GDPR) through the misleading processing of personal data, according to the European Consumer Organisation BEUC said.
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BlogFinancial crime co-operation should continue despite Brexit Trade Agreement changes
The Trade & Cooperation Agreement which came into effect last month marks the start of a new financial crime fighting relationship between the United Kingdom and European Union, writes Francesca Titus
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News“Fishrot Files” corruption and laundering probe into Norway’s largest bank DNB dropped
Norway’s largest bank DNB has announced it is no longer being investigated by the country’s financial crime watchdog over alleged links to bribery and money laundering
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NewsEU-UK data adequacy decision proposal ‘expected within days’
The European Commission is widely expected to propose data adequacy for the UK within days.
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NewsSwedish DPA fines police for unlawful processing of facial recognition app data
The Swedish Authority for Privacy Protection (IMY) has ordered the country’s police authority to pay a SEK2.5m ($297,000, €247,000) financial penalty for incorrect processing of personal data when using Clearview AI’s facial recognition technology to identify individuals.
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BlogThe complicated relationship between UK sanctions and Brexit
The sanctions regime in the United Kingdom and Europe is becoming much more complicated due to Brexit and compliance professionals are watching closely. The International Compliance Association and UK Finance explain more.
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NewsBank of Russia reports ‘surge’ in illegal financial services offered online
The central bank of the Russian Federation has identified more than 1,500 organisations suspected of engaging in illegal financial service activity in 2020, as online fraud “surged” during the Covid-19 pandemic.
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News£4.5bn of unreported cash identified in UK as criminals exploit ‘cottage industry’ of shadowy company formation
A ‘cottage industry’ of company formation agencies is helping criminals launder billions of pounds in the UK, with £4.5billion of unreported income identified between 2012 and 2017, a report has revealed.
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BlogCum-Ex tax fraud: the difficulties and dilemmas in pinning blame
The Cum-Ex trading scandal led to governments in several western European countries losing billions of Euros in tax revenue. As fresh prosecutions get underway, Tom McNeill explains the difficulties in proving collusion between different parties.
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NewsEU member states agree negotiating stance for ePrivacy regulation
European Union member states have agreed a joint position on the proposed ePrivacy regulation, allowing the EU President to open talks with parliament about the final text.
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NewsScores of data breaches at UK’s merger watchdog
The anti-trust regulator in the UK was hit by 150 personal data breaches in the past two years, five more than in the previous two-year period.
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NewsUK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.
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NewsLuxembourg government hits back at reports country is haven for money laundering
The Luxembourg government has sought to counter allegations that the country is a haven for money laundering and tax evasion, following a damning report by journalists.
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NewsSouth Africa’s surveillance law ruled unconstitutional
South Africa’s constitutional court has ruled that the country’s 2002 Regulation of Interception of Communications and Provision of Communication-Related Information Act is unconstitutional as it fails to provide adequate privacy safeguards.
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Attack on UK estate agency was Egregor ransomware, according to experts
A malware attack on a large UK estate agency was carried out by the Egregor ransomware group and appears to be case of ‘double extortion’, according to threat intelligence experts.
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NewsUK Serious Fraud Office loses legal fight to compel foreign business to hand over documents
The United Kingdom’s Serious Fraud Office (SFO) has lost a court battle over whether it has the power to compel foreign businesses to hand over documents held overseas.
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NewsGerman regulator orders Goldman Sachs to comply with AML law
Germany’s financial watchdog has ordered Goldman Sachs to comply with anti-money laundering legislation.
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News50 US banks deceived through shell companies in laundering operation
Police have arrested more than 100 members of a criminal gang accused of laundering €12 million through 50 different U.S. banks.
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BlogBrexit trade agreement fails to replicate financial crime information-sharing
The Trade & Co-operation agreement will see the UK lose access to information but hopefully common sense will prevail, writes Michael Hatchwell
