Money laundering in the insurance industry is on the rise while life insurers require to report all transactions suspected of being connected with money laundering or terrorist financing.
Ελληνική Δημοκρατία, Υπουργείο Οικονομικών, Δημοσίευση Έκθεσης «Εκτίμησης Εθνικού Κινδύνου για τη Νομιμοποίηση Εσόδων από Εγκληματικές Δραστηριότητες και τη Χρηματοδότηση της Τρομοκρατίας».
In March 2018, two years are closing from the date that U.S. Federal Financial Institution Regulatory Agencies issued a common guidance clarifying the applicability of the Customer Identification Program (AML/CIP) rule to prepaid cards issued by banks.
On 25 June 2015, the EU 4th AML Directive (EU 2015/849) was enacted, which replaces the previous EU 3rd AML Directive (2005/60/EC) and the related implementing measures Directive (2006/70/EC). With a two-year window for implementation, all EU member states must be compliant with the new mandates by 26 June 2017.
Over the last years US, EU and UN have imposed sanctions to a number of countries and jurisdiction. In this article we have gathered the Sanctioned and Debarred Countries.
The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union in operation since 2011. It was proposed by the European Commission in 2009 in response to the financial crisis of 2007–2008.
CubeIQ’s AML & Compliance Solutions covers all the essential elements of an AML compliance solution, part of the four-part AML program required by International anti-money laundering laws and additional peripheral software solution that create a unique solution and services proposition in the regulatory compliance market.
CubeIQ AML and Compliance Web Site is published with New Appearance and Structure.
The goAML™ software is part of The United Nations Office on Drugs and Crime strategic response to crime, particularly to serious and organized crime such as terrorist financing and Money laundering.
The Basel AML Index is an annual ranking assessing country risk regarding money laundering/terrorism financing. It focuses on anti-money laundering and counter terrorist financing (AML/CTF) frameworks and other related factors such as financial/public transparency and judicial strength.
Jurisdiction Undertaking First Exchange of Information By 2017
Review & Reports Elements on CubeIQ AML systems operation evaluation program for Banks and Financial Institutions requiring to evaluate the configuration and setup of their AML operations.
CubeIQ is launching an AML Systems operation evaluation program for Banks and Financial Institutions requiring to evaluate the configuration and setup of their AML operations
Fourth (4th) Money Laundering Directive EU/2015/849 published on June 5, 2015 addresses AML/CFT requirements for Non-Financial institutions and companies and defines which Non-Financial institutions and companies are AML/CFT Obliged Entities and therefore should implement an AML Compliance Program.
Fourth (4th) Money Laundering Directive EU/2015/849 published on June 5, 2015 defines that Customer Due Diligence – CDD is obligatory to several Non-Financial institutions and companies’ categories. CubeIQ is providing AML On-Line™ service for on-line names filtering against Specially Designated Nationals – SDN List.