On 24 April 2024, the European Parliament enacted a comprehensive Anti-Money Laundering (AML) Package, formally published on 19 June. This legislation significantly enhances the EU’s arsenal against financial crime. The AML Package comprises three key elements: Sixth Anti-Money Laundering Directive: This directive outlines member state obligations to prevent the financial system from being exploited for […]
I deputati delle Commissione per le libertà civili, la giustizia e gli affari interni hanno approvato tre progetti di legge che mirano a rafforzare le norme dell’UE contro il riciclaggio di denaro e il finanziamento del terrorismo (AML/CTF). Il primo atto legislativo è il regolamento del “codice unico” dell’UE, che mira a standardizzare la politica […]
Following the suspension of public access to the Register of Beneficial Owners (RBE) imposed by the judgment dated 22nd November 2022 by the Court of Justice of the European Union (CJEU), the involved and responsible parties (the Luxembourg Business Registers (LBR), the Ministry of Justice and the State Information Technology Centre) have finally found a […]
The Luxembourg Ministry of Justice has announced the temporary suspension of the online consultation of the RBE (Register of Beneficial Owners – UBO – in french “Registre des Bénéficiaires Effectifs“) after just a few hours from the ruling of the Court of Justice of the European Union (CJEU) on the illegality of the register. The […]
In recent years the growth within the blockchain / cryptocurrency industry has been phenomenal. Following the hike in the value of cryptocurrencies that happened in 2017 we have been seeing new blockchain businesses sprouting like mushrooms all over the globe. According to Forbes, the global blockchain market is anticipated to grow to over USD60 billion […]
You spend more time on paper work and searches to comply with the AML regulations rather than business generation. Adhering to the Financial Intelligence Analysis Unit (FIAU) implementing procedures is becoming a nightmare. Investing in compliance software is too costly. These concerns are what triggered the creation of StartKYC – an online system, as […]