In the United Kingdom, The Global Human Rights Sanctions Regulations 2020 came into effect on July 6. This regulation is under the Sanctions and Anti-Money Laundering Act 2018. Foreign Minister Dominic Raab had announced in 2019 that his country would enact Magnitsky's law,
The EU will implement the Sixth Anti-Money Laundering Directive (6AMLD), a new directive due to some uncertainties in 5AMLD. With the 6AMLD, the EU aims to identify money laundering crimes and focus more on sanctions deeply.
Mobile payment providers and all other financial businesses have to have a compliance program according to AML / CFT obligations and implement it. A compliance program includes the company's AML compliance officer ...
Investment companies invest in the accumulated capital of investors in financial securities. These mutual funds can be used by those who want to launder money. Therefore, investment companies have money laundering risks.
The methods used for money laundering are increasing and changing day by day. With the development of technology, the video games sector has also expanded considerably. The expansion of the video game industry has brought some crimes, for example, money laundering.
A money mule is a kind of money laundering method that has been applied for years. Even if money mules are not directly involved in money-producing crimes, they are considered complicit partners.
The insurance industry all over the world faces money laundering risks. Due to large fund flows through the insurance industry, insurance companies have to comply with AML regulations.