197 results found

"A RegTech assists a bank, credit union, or other financial institution by using technological advancements in data mining, artificial intelligence, blockchain, Machine Learning...

In a landmark decision on the 22/11/2022, the Court of Justice of the European Union, in cases C-37/20 and C-601/20, ruled the provision of the 4th Anti-Money Laundering Directive (EU) 2015/849 granting access to the general public ...

The Cyprus Parliament has approved on 18 February 2021 an amendment to the Prevention and Suppression of Money Laundering and Terrorist Financing Law 188 (I) 2017 (the "AML Law"),...

We've all seen the recent news about a bank being fined for deficiencies in its anti-money laundering (AML) procedures.

In June 2021, following a recent implementation and enactment of the 5th AML Directive into national legislation, the Cyprus Securities and Exchange Commission has introduced, via the issuance of Directive 269/2021, ...

Cyprus is exposed to external ML risks owing to its position as an international financial centre.

On 23rd February 2021, the 5th AML Directive was implemented by the Republic of Cyprus into the national AML Law, bringing major amendments to the virtual currency industry.

Recently, the Central Bank of Cyprus has issued guidelines to Cyprus banks to open new bank accounts or to continue maintaining existing bank accounts in companies ...

Through money laundering, criminals fund and profit from illicit activity such as arms sales, narcotics, human trafficking, contraband smuggling, embezzlement, insider trading, bribery, and fraud schemes.

The new European Union ("EU") Anti-Money Laundering Regulation ("AMLR") that has very recently been adopted by the EU Council adds football agents and professional football clubs...

In particular, article 61A (4)(a) of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (13(I)/2018) provided for the introduction of the UBO Register.

In today's globalised economy, financial crime and particularly money laundering (ML) poses a significant threat to economic stability and the rule of law.

Cyprus has become an international business centre mainly due to its tax system, its strategic geographical location and the advanced professional services sector.

In the course of negotiations with the Eurogroup early in 2013 a number of allegations were made that the financial system in Cyprus was being abused for money laundering purposes as a consequence of allegedly weak anti-money laundering procedures and laxity in their application.

Our 2020 AML seminar is a practical approach to address deficiencies through an AML Risk Assessment System.

The Ministry of Finance has announced the outcome of the first National Risk Assessment of Money Laundering and Terrorist Financing Risk.

The UBO Register is a product of the fourth anti-money laundering Directive (MLD 4)1 and the fifth anti-money laundering Directive (MLD 5)2 as part of the EU's legislative programme...