Transposition of Fifth Money Laundering Directive in the UK
On 20 December 2019, amending regulations transposing the fifth money laundering directive into UK domestic law were laid before Parliament and came into effect (for the most part) on 10 January 2020. The fifth money laundering regulation now ceases to be of any relevance. The principal exceptions to the 10 January 2020 effective date were that provisions relating to: New limits for anonymous pre-paid cards which won’t require CDD come into effect on 10 July 2020. The new bank account portal comes into effect on 10 September 2020 There are other deadlines with respect to the implementation of some other provisions.
Money Laundering Risks in the Australian Real Estate Industry
Australia’s real estate market is fertile ground for criminals looking for money laundering opportunities. This white paper covers several key themes such as the current government legislation regarding the real estate industry (or lack thereof), a comparison of Australia’s AML framework with five countries’ best-practice approaches, and a number of recommended strategies for addressing the deficiencies.
Case Study: LYSIS & NAPIER Transaction Monitoring
Lysis Operations Case Study. The challenge: A requirement to have an effective transaction monitoring framework, operational controls and processing to manage and monitor payments across Europe and to establish a solution which can adapt and iterate with the constantly-changing regulations and requirements.