Posted in Money Laundry Law

Russian’s Laundromat

Nice graphics on how Russia, allegedly, managed to laundry billions and billions thanks to shell companies and banks.

Is it perhaps time for a joint action from the EU on this misconducts?


Posted in Money Laundry Law

But does it really work? The value of ISO certification of anti-bribery compliance

A new ISO Standard (37001) for anti-bribery practices prescribes several actions:

  • Running risk assessments to determine the risks faced by the organisation;
  • Providing training to all relevant employees and business associates;
  • Conducting appropriate CDD to assess bribery risks;
  • Allocating enough resources to the operations of the anti-bribery management system;
  • Enforcing appropriate financial and commercial controls to mitigate the risk of bribery;
  • Having whistle-blowing procedures in place; and
  • Monitoring and testing the programme’s effectiveness on a regular basis.


Posted in Corporate Crimes/Insider Trading/Whistleblowing, Corruption/Bribery Law, Money Laundry Law


Companies (at least 500 employees and €100+m turnover ) must prevent and detect potential corruption (code of conduct+internal whistleblowing procedure+risk mapping+due diligence procedure+internal/external accounting procedures+anti-corruption training procedures+disciplinary measures+internal oversight and assessment mechanism).

Whistle-blowers must be protected.

This whole confirms (on a French flavour) the global trend to protect whistleblowers and applying a tough fist against corruption codes.


Posted in Money Laundry Law

Money laundering directive: new requirements

EU has issued a proposal in 2016 to bolster the AML directive and Germany is taking the chance to tackle the estimated €100b per year involved in laundry activities.

A new central register will be set, in order to deposit the real economic beneficiaries. These will now be entities or persons holding at least 10% of a company (in place of 25%) and even virtual currencies will be subject to these new provisions.