International news and developments - July 2018

Written by Simone Jones on Tuesday August 7, 2018

UK region

National Crime Agency Publish Annual Reports and Accounts 2017-18

FCA proposes changes to rules for crowdfunding platforms

FCA publishes Annual Report and Accounts 2017/18

UK money laundering fight ‘fragmented and overwhelmed’ by suspicious transactions, MPs told

UK will adopt 5AMLD during Brexit transition period, says government 

New purpose-built fraud, economic and cybercrime court to be based at Westminster 

Police will receive Bitcoin training to crack down on money laundering 

Launderers who use UK property market could face up to 5 years in prison, government announces 

FCA Speech on MiFID II and the fight against financial crime


EMEA region

FATF Publishes follow up report on Sweden's progress in strengthening measures to tackle money laundering and terrorist financing

European Banking Authority says that Malta failing to enforce EU AML rules 

Estonia will investigate Danske Bank over money laundering claims 

Danish watchdog may launch Danske Bank probe

Qatar ups efforts to fight money laundering and terrorist financing


APAC region

Monetary Authority of Singapore directs financial institutions to tighter customer verification process

PwC’s Global Economic Crime & Fraud Survey claims 45% of Australian firms experienced customer fraud over last two years

China Charges Former Internet Censorship Chief with Corruption

New Pakistan PM vows to retrieve laundered money 

Former Pakistan PM charged with corruption receives a 10-year sentence 

Bangladesh Anti-Corruption Commission asks police to prevent former political leaders leaving country


North America region

Securities Exchange Commission charges Credit Suisse with FCPA violations

Uber hires former Department of Justice lawyer as chief compliance officer 

Eight charged in connection with Venezuelan energy money laundering scheme 



$60 million from Angola sovereign wealth fund released by Swiss authorities 

$2.5 billion corruption and money laundering case against Jacob Zuma adjourned by South African court

Africa’s football governing body hails progress in anti-corruption effort


LATAM region

Cayman Islands Monetary Authority publishes guidance note on funds

Colombia, US, Panama and Mexico combine to expose corrupt Venezuelan government officials

Brazil: Former President Lula will stay in prison, judge rules, over corruption 

General Electric, Johnson & Johnson, Philips, all named by Brazil judge in price-fixing scheme 



FATF publishes report on Professional Money Laundering

FATF Publishes Report on G20 commitment to implement FATF standards and support for work on crypto assets

FATF Publishes Study on Concealment of Beneficial Ownership

FATF Publishes Public Consultation on the Draft Risk-Based Approach Guidance for the Life Insurance Sector



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