Regulatory Initiatives Archives

June - August 2021, Regulatory Initiatives

Four Ways the AMLA Will Reduce Compliance Risk and Costs

June 25, 2021April 14, 2022 /Leave a comment

Either by explicit design or indirectly, several provisions in the Anti-Money Laundering Act of 2020 (AMLA)1 are expected to reduce compliance costs and compliance risks2 for banks, capital markets firms and other financial institutions (FIs) subject to BSA compliance program requirements. Congress has previously acknowledged...

ACAMS Today Europe, May - June 2021, Regulatory Initiatives

Latvia: Avoiding FATF’s Grey List

May 20, 2021March 6, 2023 /Leave a comment

In 2017, findings by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) served as encouragement and support for Latvia to initiate the needed changes to its anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF)...

ACAMS Today Europe, May - June 2021, Regulatory Initiatives

Cryptocurrency Regulations: Finding the Right Balance

May 20, 2021March 6, 2023 /Leave a comment

There are various ideas about cryptocurrencies; some claim that they are a Ponzi scheme, a scam or a bubble, others say they are the future. What exactly are they? Cryptocurrencies are like fiat money, but they do not have a physical presence and more importantly,...

ACAMS Today Europe, May - June 2019, Regulatory Initiatives

Risky Business: 5AMLD and EDD

May 22, 2019June 6, 2019 /Leave a comment

The Fifth European Union (EU) Anti-Money Laundering (AML) Directive (5AMLD)1 which entered into force on the 9 of July 2018, must be implemented by the EU member states by January 2020. Firms affected by the new directive, obliged entities, face new challenges resulting from the...

Europe, June - August 2018, Regulatory Initiatives

Regulating a Game Changer—Europe’s Approach to Cryptocurrencies

June 26, 2018June 27, 2018 /Leave a comment

Cryptocurrencies are seen as bringing innovation to the payments-services sector; furthering financial inclusion; and facilitating greater efficiency in cross-border transactions. However, as with other financial products and services, cryptocurrencies are also exposed to financial crime risks. The following article provides some background in relation to...

March - May 2018, Regulatory Initiatives

An offer you can’t refuse?

March 20, 2018June 13, 2018 /Leave a comment

Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs) are recent innovations for companies to raise capital outside of traditional securities markets and funding sources (e.g., venture capital and angel investors). These “alt-offerings” also represent an avenue for innovation in financial crime and, in turn,...

December 2016 – February 2017, Europe, Regulatory Initiatives

Know Your Customer: Enhanced Requirements

December 9, 2016April 7, 2017 /Leave a comment

Know your customer/customer due diligence (KYC/CDD) requirements have been the focus of regulatory revision processes both in the U.S. and the EU in 2016, leading to a changed understanding of the KYC/CDD requirements and the approaches and tools needed to meet these requirements. These...

June – August 2015, Regulatory Initiatives

FATF Guidance for the Banking Sector on the Application of the Risk-Based Approach: Part II

May 27, 2015 /Leave a comment

In October 2014, the Financial Action Task Force (FATF) issued Guidance for a Risk-Based Approach (RBA) for the Banking Sector. This guidance updates the 2007 guidance to bring it in line with the new FATF Recommendations. This guidance is intended for the banking sector,...

March – May 2015, Regulatory Initiatives

FATF Guidance for the Banking Sector on the Application of the Risk-Based Approach

March 3, 2015March 4, 2015 /Leave a comment

December 2014 - February 2015, Europe, Regulatory Initiatives

Europe’s Upcoming Fourth AML/CFT Directive

December 9, 2014September 9, 2015 /Leave a comment

In February 2013, the European Commission adopted two proposals: the Fourth AML Directive and a complementary regulation on what information must accompany fund transfers to ensure traceability. The European Parliament's and European Council's so-called "draft directive on the prevention of the use of the...

ACAMS Today

The Magazine for Career-minded Professionals in the Anti-Money Laundering Field

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The Importance of Collaboration in CSE Investigation

Financial Information Sharing Partnership in Mexico

Deterring Financial Crimes While Respecting Data Sovereignty

Exploring the Role of Generative AI in Enhancing Financial Crime Compliance

Regulatory Initiatives