On 27 June 2017, the Joint Committee of the three European Supervisory Authorities (“The ESAs”) – namely the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets authorities – has issued Joint Final Guidelines (the “Guidelines”) under the 4th Anti-Money Laundering Directive (“4AMLD”). It focuses on customer due […]

On 20 February 2017, the Joint Committee of the European Supervisory Authorities (ESAs) (that is, the EBA, EIOPA and ESMA) published an opinion (JC/2017/07), addressed to the European Commission, on the risks of money laundering and terrorist financing affecting the EU’s financial sector. Read here  The aim of the opinion is to inform the Commission’s […]

Bitcoin-friendly businesses that were eyeing European locations as regulation-free environments for virtual currencies may need to reconsider as AML – CTF and related KYC (CDD) concerns are at the fore there as well as in the U.S. On Friday, the European Banking Authority (EBA) published an opinion recommending both that banks avoid most bitcoin-friendly customers […]