i-law

Money Laundering Bulletin

MLD5: virtually there?

Emma Radmore (+44 (0)207 788 2372, emma.radmore@wbd-uk.com) is Legal Director at Womble Bond Dickinson 
Online Published Date:  29 January 2018
Appeared in issue:  251 - 01 March 2018

2018 – the year in view

Nick Henderson is the Director of Course Development at VinciWorks. VinciWorks offers a number of courses on Money Laundering and other compliance issues for business.
Online Published Date:  02 February 2018
Appeared in issue:  251 - 01 March 2018

Delayed impact – Directives 4 & 5

The European Union’s (EU) Fourth Money Laundering Directive (4MLD - 2015/849) was hailed as major step forward when adopted in May 2015, but member states are dragging their feet on implementation, finds Sara Lewis, just as the bloc moves..
Online Published Date:  05 February 2018
Appeared in issue:  251 - 01 March 2018

South African branch of China Construction Bank Corp fined R75m for suite of AML/CFT breaches

The Johannesburg branch of China Construction Bank Corporation (CCB) faces a R75 million (US$6m) penalty for a range of anti-money laundering and counter terrorist financing control failures.The South African Reserve Bank found weaknesses in..
Online Published Date:  05 February 2018
Appeared in issue:  251 - 01 March 2018

Swiss block on new Gazprombank private clients; PKB Privatbank to disgorge CHF1.3m

Gazprombank (Switzerland) Ltd is barred from taking on new private clients until further notice after the Swiss Financial Market Supervisory Authority FINMA found “serious shortcomings” in its anti-money laundering controls.The..
Online Published Date:  05 February 2018
Appeared in issue:  251 - 01 March 2018

Tunisia on blacklist divides MEPs

MEPs, on 30 January, voted by the narrowest of margins against a move to reject inclusion of Tunisia, Sri Lanka and Trinidad and Tobago in the European Commission’s blacklist of high-risk third countries with strategic deficiencies in..
Online Published Date:  05 February 2018
Appeared in issue:  251 - 01 March 2018

UK government quizzed on central register data validation under Fifth Directive

The Fifth EU Money Laundering Directive (5MLD) looks set to be passed by the European Parliament and Council of Ministers in mid April [2018].If published in the Official Journal in May, transposition for most of the Directive provisions would..
Online Published Date:  08 February 2018
Appeared in issue:  251 - 01 March 2018

Rabobank fined US$369m for handling “hundreds of millions of dollars in untraceable cash”

Rabobank National Association (RNA), a California subsidiary of the Netherlands-based Coöperatieve Rabobank U.A., pleaded guilty, on 7 February [2018], to a charge of conspiracy for “impairing, impeding and obstructing” the US..
Online Published Date:  15 February 2018
Appeared in issue:  251 - 01 March 2018

Long tail - HSBC

Timon Molloy, Editor
Online Published Date:  27 February 2018
Appeared in issue:  251 - 01 March 2018

Sailing the South Seas

Susan Grossey may be contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com, www.thinkingaboutcrime.com
Online Published Date:  09 March 2018
Appeared in issue:  251 - 01 March 2018

Law and effect – Vietnam

Vietnam is fertile ground for launderers. Weak oversight and regulation of the financial sector do not help, Michael Tatarski finds in Ho Chi Minh City.Predicates aplentyAccording to the US State Department’s International Narcotics Control..
Online Published Date:  09 March 2018
Appeared in issue:  251 - 01 March 2018

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