Useful reading: Practical solutions for efficiently preventing money laundering
The challenges in the area of anti-money laundering law are constantly increasing. To meet the ever-growing regulatory requirements,…
Analysis of the EBA Report on Virtual IBANs following the entry into force of the new AML Regulation
1. BACKGROUND The International Bank Account Number (“IBAN”) was introduced in 1997 by the International Organisation for Standardization…
Material legal framework that payment service providers in the area of anti-money laundering law need to know 3.0
We already provided you with an overview of the material legal provisions that are relevant for payment service…
Blank slate in anti-money laundering law for insurance holding companies
BaFin’s recently published consultation on an amendment to its Application and Interpretation Guidance (AuA) on the Money Laundering…
AuA 2.0: BaFin consultation on the application and interpretation of the Money Laundering Act
BaFin has published an updated version of its application and interpretation notes on the Money Laundering Act for…
AML package (5) – exception for tied credit intermediaries?
The EU AML package was published in the Official Journal of the European Union on 19 June 2024.…
News on the prevention of money laundering and terrorist financing by insurance companies
If insurance companies conduct transactions with an affinity for money laundering/terrorism financing (especially life insurance transactions, products with…
AML package (4) – Outsourcing under the new AML-R
This part of our series on the AML-package features the regulations on outsourcing. The introduced AML-Regulation (AML-R) will…
AML package (3) – New features for obligated parties
Part 4 of our series on the AML package deals with the changes to the group of obligated…
AML Package (2): Risk Management under the AML Regulation
The AML package encompasses a multitude of changes compared to the previous legal framework. The third part of…
AML package (1) – Money laundering versus sanctions
With the publication of the compromise text on the new Anti-Money Laundering Regulation (“AML-R”) and the so-called Sixth…
The AML package is here
On February 12, 2024, the Council of the European Union published the final compromise texts on the new…
Further step towards the adoption of the EU AML Package
As previously outlined on paytechlaw, the legislative process for the adoption of the AML Package of the EU…
European Commission publishes a Proposal for a Regulation on the establishment of the digital euro
On June 28, 2023, the European Commission published a proposal for a regulation (“dEUR Regulation”) on the establishment…