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4th EU AML Directive Is In The Corner. Are You Ready?

Published by in Risk & Compliance ·
Tags: #AML#4MLD#PEP#UBO
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.

Sanctioned and Debarred Countries

Published by in Risk & Compliance ·
Tags: #Sanctions#DebarredCountries
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.

European System of Financial Supervision

Published by in Risk & Compliance ·
Tags: #ESFS#FinancialSupervision
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.

Payment Services Directive (PSD2): Regulatory Technical Standards (RTS)

Published by in Risk & Compliance ·
Tags: #PSD2#Payments
The revised Payment Services Directive (PSD2), which enters into application on 13 January 2018, will facilitate innovation, competition and efficiency. Read the full European Commission Fact Sheet about PSD2.

CubeIQ AML and Compliance Solutions and Services

Published by in Risk & Compliance ·
Tags: #AML#RegulatoryCompliance
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 Web Site New Appearance and Structure

Published by in Risk & Compliance ·
Tags: #AML#RegulatoryCompliance
CubeIQ AML and Compliance Web Site is published with New Appearance and Structure.

goAML™, an AML software system from UNODC

Published by in Risk & Compliance ·
Tags: #AML#Compliance
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.

Basel Institute 2017 AML Index

Published by in Risk & Compliance ·
Tags: AMLBaselRisk
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.

OECD Automatic Exchange of Information 101

Published by in Risk & Compliance ·
Tags: OECDAEOICRS
Jurisdiction Undertaking First Exchange of Information By 2017

Review & Reports Elements on AML Systems Operation Evaluation

Published by in Risk & Compliance ·
Tags: AMLEvaluation
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.

AML Systems Operation Evaluation

Published by in Risk & Compliance ·
Tags: AMLOperationEvaluation
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

4th EU Anti Money Laundering Directive & Non-Financial Institutions

Published by in Risk & Compliance ·
Tags: AMLPEPComplianceEU4thAMLDirective
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.

AML On-Line™: An On-Line Names Filtering Against SDN Lists Service

Published by in Risk & Compliance ·
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.

4th EU Anti Money Laundering Directive Overview

Published by in Risk & Compliance ·
Tags: AMLPEPComplianceEU4thAMLDirective
The Fourth (4th) Money Laundering Directive EU/2015/849 published on June 5, 2015 continues to apply a risk-based approach to AML/CFT and enhances the required compliance measurements. Fourth (4th) Money Laundering Directive focuses on the areas that are most open to money laundering and define procedures and actions to identify, assess, understand, mitigate and manage them effectively.

4th EU Anti Money Laundering Directive Obliged Entities

Published by in Risk & Compliance ·
Tags: AMLPEPComplianceEU4thAMLDirective
Obliged entities under the 4th Money Laundering Directive (EU/2015/849) are companies, institutions, organizations and legal entities that need to develop and put in place policies, controls and procedures to monitor and enhance measures and actions taken for AML/CFT activities.

AML KYC Requirements in Greek Gambling Industry

Published by in Risk & Compliance ·
As gambling services posing higher risks, several provisions have been taken under the current Greek AML laws and regulations (fulfilling EU 3rd Money Laundering Directive 2005/60/EC and its amendments). This article stipulates the current AML KYC Requirements in Greek Gambling Industry.

4th EU Anti Money Laundering Directive Key Changes

Published by in Risk & Compliance ·
Tags: AMLPEPComplianceEU4thAMLDirective
The Directive (EU) 2015/849 of the European Parliament and of the Council of May 20, 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, has been published on June 5, 2015.

FATCA FAQs For US Citizens

Published by in Risk & Compliance ·
Tags: EUTaxationNonEUTaxationComplianceAMLFATCAOECD
As FATCA (Foreign Account Tax Compliance Act) is executed in full from Tax Authorities and Financial Institutions in the majority of EU Member States, we are publishing a document with Frequent Asked Question on what FATCA is imposing on US Citizens and US Green Card holders.

Schedule of Automatic Exchange Of Information Between EU Member States

Published by in Risk & Compliance ·
Tags: EUTaxationNonEUTaxationComplianceAMLFATCAOECD
Automatic Exchange Of Information between EU Member States, schedule and deadlines.

Repeal of EC Directive 2003/48/EC

Published by in Risk & Compliance ·
Tags: EUTaxationNonEUTaxationComplianceAMLFATCAOECD
European Commision Directive 2003/48/EC, "The European Union Savings Directive - EUSD", is repealed.

FATCA Reporting Module on FIS’ Prime® Compliance Suite

Published by in Risk & Compliance ·
Tags: EUTaxationNonEUTaxationComplianceAMLFATCAOECDKYCCIP
CubeIQ’s FATCA reporting module is an add-on to PCS™ FATCA enhanced EDD Reporter™ module and it is a full web based application with multiple functions which enables Financial Institutions to meet their FATCA reporting mandates.

Reporting Obligations of EU Financial Institutions

Published by in Risk & Compliance ·
Tags: EUTaxationNonEUTaxationComplianceAMLFATCAOECD
Automatic exchange of information in E.U. or International level has increase the burden for mandate reporting to E.U. financial institutions.

EU And Non-EU Jurisdictions: Status of Automatic Exchange Of Information For Tax Purposes

Published by in Risk & Compliance ·
Tags: EUTaxationNonEUTaxationComplianceAMLFATCAOECD
Cooperation of EU Member States and Non-EU jurisdictions for automatic exchange of information (“AEI”) for tax purposes starting in 2017 for all financial information related to 2016 transactions.

Status of Automatic Exchange Of Information For Tax Purposes in EU

Published by in Risk & Compliance ·
Tags: EUTaxationComplianceAMLFATCAOECD
The European Council of Economic and Financial Affairs (ECOFIN) on October 14th, 2014 agreed to an amendment of the Directive on Administrative Cooperation in the Field of Taxation ("DAC"), adopting EU Directive 2014/107/EU.

FATCA Impact on EU Tax Regulations

Published by in Risk & Compliance ·
Tags: EUTaxationComplianceAMLFATCA
FATCA signed into law by US President at March 18th 2010 and its implementation over the past several years has triggered creation of corresponding regulations and legislations within EU member states and European Union and non-EU jurisdictions.
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