The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) is a new regulator that has been set up by the government as part of a package of reforms to strengthen the AML supervisory regime in the United Kingdom.
Gambling providers are required by law to carry out identity checks to ensure that those gambling are of legal age and not linked to crime, money laundering or terrorism. Gambling operators must also adhere to local laws and ensure that those using their services meet geographic requirements.
A recent survey of estate agents has revealed the extent of the industries confusion around current Anti-Money Laundering (AML) regulations.
Only 12% of participants achieved a perfect score in the multiple-choice questionnaire, which focused on the 4th Money Laundering Directive (4MLD), while 13% of respondents believed a PEP to be a “Property Exempt Person”.
PAY360, is an flagship annual conference is a true celebration of payments innovation. This event brings together the leaders in the emerging payments community to discuss the future of our exciting industry. We expect an audience of over 300 C-level delegates at PAY360 in 2018.
On 13 December 2017, a provisional agreement on the final text of the fifth Anti-Money Laundering Directive, known as 5MLD, was published. This will amend the current Fourth Anti-Money Laundering Directive, and once the text has been approved by the Permanent Representatives Committee and an agreement is reached between the European Parliament and Council, 5MLD will be formally adopted – although the exact date of implementation is yet to be determined. A summary of the key changes to the Anti-Money Laundering Directive that 5MLD will bring includes: