EXCLUSIVE: Ilze Znotina joins AML Intelligence as a Columnist, read her sensational first column now
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From Elizabeth Hearst and Alisha Houlihan at AML Intelligence
Our star new columnist – Ilze Znotina joins AML Intelligence as a regular contributor, sharing her invaluable insights on the fight against financial crime.
PLUS an influential banking group wants the EU to stick to its plans for a €10K ceiling on cash transactions – AND senior UK AFC leaders cannot miss our upcoming London Roundtable on Tech & AI in AML
TODAY we are delighted to announce to?AML Intelligence newsletter?subscribers?that one of the foremost leaders in the Anti-Financial Crime space has joined AML Intelligence as a columnist.?
Ilze Znotina, who until recently led the Government of Latvia’s FIU,?is joining the team to?give?her valuable?insights?into the world of AFC, AML & Compliance.?
In her first column, Ilze shares her thoughts on the influx of dirty Russian money into Europe -?and?reveals?how?the bloc?we can plug it.?
Don’t miss Ilze’s exclusive column?on how the EU, US and other countries can devise a new approach to begin changing the fight against financial crime – available to read for AML Intelligence members HERE:?
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PLUS, a global banking group, wants the EU to prevent Member States from reducing their proposed €10,000 cap on cash transactions.??
The Wolfsberg Group says permissions given to countries to apply “lower limit” cash bans should be scrapped, with Germany and Austria among the EU nations believed to be opposed to the EU’s new €10K cash ceiling.
LONDON CALLING:?BE QUICK, secure your seat at this year’s most exclusive roundtable for industry leaders and experts in the UK banking sector on November 10. Register your interest today to avoid disappointment by emailing?[email protected].?
Meanwhile, it’s all systems go for the second?AML Intelligence?Women in FinCrime summit?of 2022 which brings?together some of the industry’s top?female?decision makers and leaders in the AML, AFC and Compliance space.?
The summit will place on November 30?and we are delighted to announce today, we will also be joined by?Nana Heider, Head, Financial Crime Intelligence Unit, Deutsche Bank who will be sharing her insights.?
And the timing could not be more relevant. It comes as momentum grows for greater involvement of women in the leadership of the global fincrime sector, following fallout from the recent FATF/Interpol conference in Singapore. The infamous ‘Staircase Image’ from the event showed the vast majority of delegates were men in suits, leading to one fincrime leader talking about a ‘Boys Club.’
Other confirmed speakers include:
The theme of the November 30 Summit is ‘Emerging Technology in the Fight Against Financial Crime.’
More speakers will be announced shortly. Get your discounted tickets,?avoid disappointment and?secure your place today
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If you’d like to be one of our sponsors, contact James Treacy on?[email protected]
Here are the top Anti-Financial Crime and AML stories so far this week:
EXCLUSIVE:?In her unmissable new column for AML Intelligence, Ilze Znotina, former Head of the Latvian FIU writes candidly about battling Russian dirty money across the EU - and how the bloc can start winning the fight.?
One of the best-known names in the global AFC space, Ilze is credited with devising a strategy which kept Latvia off the FATF 'grey list', to become a country now battling to host the EU's AML Authority.
?Don't miss Ilze's exclusive thoughts?HERE:?
CASH CAP:?One of the world's leading banking organisations, the Wolfsberg Group, has called for the EU to scrap plans to allow Member States to set lower cash caps than the prescribed €10,000 threshold across the bloc.?
The Group, made up of some of the world's most powerful banks and financial institutions has called for the €10K cash limit to be "applied consistently" across the EU, "without permission for Member States to apply a lower limit" as currently included in the proposals.?
Germany and Austria are reportedly among EU nations opposed to the cash cap, citing privacy concerns.??READ the story?HERE:
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'FIRST OF ITS KIND':?Singapore is set to?launch?a "first of its kind" AML data sharing platform for banks that will be operational next year.
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The authority has already signed up six major banks - DBS, OCBC, UOB, SCB, Citibank and HSBC - for the exchange, which it says is the first of its kind in the world.
It will be called Cosmic (Collaborative Sharing of ML/TF Information & Cases) and will allow financial institutions to securely share information on customers or transactions, where they cross material risk thresholds.
Find the story here:?Singapore set to launch ‘first of its kind’ AML data sharing platform for banks
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DANSKE SETTLEMENT:?Danske?Bank revealed it is?preparing?to pay more than $2BN in fines to resolve the long-running money-laundering inquiry that spans the US and Denmark.
Denmark’s biggest bank announced it was taking an additional charge of DKr14BN ($1.9BN), to take its total provision to DKr15.5BN ($2.1BN) to settle the case.
The bank believes it is in a position to finally reach agreement with the US Department of Justice, the US Securities and Exchange Commission and Denmark's special crime unit by the end of the year.
Read the story here:?Danske reveals it’s about to pay $2BN to settle Estonia AML scandal
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ANONYMISING DATA:?Privacy campaigners are baulking at?revised?new AML laws in the Netherlands, describing the legislation as a "banking dragnet."
A bill proposed by the Finance Ministry would allow banks to share information about their clients’ business transactions in order to detect money laundering. However it is reported the proposed legislation may fall foul of concerns about privacy as the impact of tackling criminal activity is beginning to affect ordinary account holders.
Finance Minister Sigrid Kaag hopes that limiting the amount of information banks can share and anonymising the data before it can be checked for AML patterns will get the law through parliament. Kaag presented the new bill to MPs on Friday last.
Find the story here:?Dutch finance minister hopes anonymising data will get new AML law through parliament amid privacy concerns
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NSW GAMING PLANS:?An Australian state government has?abandoned?plans to implement cashless gaming cards in clubs despite the recent publication of a "damning"?New South Wales (NSW) Crime Commission's report.
Members of the NSW Parliament supported a proposal to amend the government's?registered clubs bill to make gaming cards mandatory for cashless transactions.
Read the story here:?NSW abandons plans to make cashless cards manatory in clubs despite ‘damning’ Commission report
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FCA PROSECUTION:?The Financial Conduct Authority (FCA) has?prosecuted?five individuals for their alleged involvement in an 'all-or-nothing' investment scheme.
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Following the investigation, two prosecutions for alleged investment fraud will now be heard as a single trial of four defendants at Southwark Crown Court next year.?
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Find the story here:?FCA prosecutes five individuals linked to ‘all-or-nothing’ investment scheme
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MONEY MULES:?Children as young as 14 are reportedly being used as "money mules" as the number of teenagers working for crime gangs soars due to the cost-of-living crisis.?
Irish Police have reported the number of accounts in the Republic linked to money mules doubled in the first six months of the year to more than 3,000, with more than €12M from frauds deposited.?
READ the story here:?NEWS: Children (14) now being used as money mules as numbers of young people lured by launderers ‘surges’ due to cost of living crisis – police
MOVERS & SHAKERS: Check out our jobs portal for the latest roles in Compliance, FinCrime and AML.?
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?Join the world’s fastest-growing FinCrime community and?become an?AML Intelligence?member.
Have a great Wednesday??
Elizabeth, Alisha and the team at AMlintelligence.
ManchesterCF Financial Intelligence
2 年An excellent addition to AMLi
Chair of Egmont Group/Former Chair of MONEYVAL (2019-2023)
2 年Congratulations!
Governance, Risk and Compliance Professional | Global Payments Sector | Chartered MCSI | ACMA
2 年Link is broken to book a space.