EC Action Plan on AML

EC Action Plan on AML

EC Action Plan on AML On December 4, 2018, the Council of the European Union affirmed the EC Action Plan on AML. The non-legislative short-term measures concern, inter allies, the following: the identification of the circumstances that contributed to the current money...
EU AML Infrastructure

EU AML Infrastructure

EU AML Infrastructure to fight and prevent ML/TF In the diagram below we can see the EU AML infrastructure. Although the European Banking Authority is responsible to set guidelines, the European Commission is the one setting the policies. A recent example is the new...
OFAC Sanctions in Cyprus

OFAC Sanctions in Cyprus

This publication is made subject to the disclaimer The Cyprus Securities and Exchange Commission recently issued Circulars C-337 reminding regulated entities of the existence of the Specially Designated Nationals List (“SDN List”) of the Office of Foreign...
Russian Sanctions extended by the European Union

Russian Sanctions extended by the European Union

The Council of the European Union on the 27th of June 2019, adopted Council Decision (CFSP) 2019/1108 , extending the Russian sanctions regime until 31 January 2020. The Russian sanctions, are in place since 31 July 2014 and have repeatedly been extended targeting...