Anti-money laundering
Arab regional payment system set for 2020 launch
The new system would replace the costly and inefficient correspondent bank model
Latvia tightens AML framework
Rules on beneficial ownership, fake currency and cash forex transaction all amended
ECB to supervise bank that accused Latvian governor of corruption
Latvian authorities requested ECB action as lender sues them for alleged malpractice
Bank of Mexico and Amazon to co-operate on mobile payments system
Central bank aims to tackle low banking levels through digital payments
EBA says Paris move will be complete by June 3
All governing meetings to be held in Paris from March 30 as EBA leaves London in response to Brexit
IMF board says Malta must tighten AML-CFT regime
Maltese Financial Services Authority needs better funding and more independence – IMF board
Central Bank of Kenya governor attacks new banking law
Patrick Njoroge says the law could be “devastating” for the Kenyan economy
ECJ rules that Latvian governor was unlawfully removed
Latvian authorities failed to produce convincing evidence of wrong-doing by Ilmārs Rimšēvičs – ECJ
Campa confirmed as EBA head
Next EBA chief warns staffing levels may not be enough for AML duties
Estonian and Danish authorities trade accusations as further AML scandal breaks
Swedish, Estonian and Lithuanian authorities announce joint investigation into Swedish bank
EBA probes alleged AML failings by Danish and Estonian authorities
Estonia and Denmark criticise each other’s ‘failings’ over supervision of scandal-hit bank
Lack of accurate data poses challenges for cash forecasting
Anonymity of cash makes it hard to track as a payment instrument, panel agrees
Central bank of the year: Monetary Authority of Singapore
Singapore’s central bank stands out for its pioneering fintech efforts combined with its consistency of performance in monetary policy, financial stability and supervision
Countries must counter money-laundering through fintech – IMF official
IMF’s Adrian calls for regional co-operation and consultation on new payment systems
Dutch central bank and regulator call for AML law for crypto assets
But regulations should change to make crypto asset financing easier for small firms – DNB
Bahamian financial sector shrinks by more than a third in six years
De-risking in international finance has disproportionately hit Caribbean banks, Rolle says; Bahamian banking reforms heighten concerns
Malta’s crypto asset plan means greater money laundering risks, IMF warns
Authorities must rapidly improve AML regime and guarantee FSA’s independence, mission says
EU supervisors set out process for cross-border AML data sharing
Agreement will allow ECB and national supervisors to share data on suspected money-laundering
AML/CFT regulation to cover crypto assets – Sarb
New proposals will construct a “limited” regulatory framework for crypto assets
EU legal officer says Latvian government wrongly barred governor
Authorities provided no evidence to back claims governor acted corruptly, advocate general says
Ukrainian central bank sues oligarch in Swiss courts for $200 million
NBU demands money from former bank owner it has accused of massive fraud
Israeli supervisors welcome FATF membership
International body sets standards to combat money laundering and terrorism financing
Malaysia charges Goldman Sachs over 1MDB scandal
Bank allegedly benefited from inflated fees after employees bribed officials
Bahamas official criticises international rule-making
Although intentions are good, rules are often painful and unhelpful, Littrell says