PwC Financial Crime update—Q2 2023

This issue of the PwC Financial Crime quarterly update outlines the latest news and regulatory updates across the world of financial crime.

From an Irish perspective, access rights to the Beneficial Ownership Register were amended, restricting access to only individuals who have a legitimate interest for doing so. The Central Bank of Ireland also published a Dear CEO Letter this quarter to High Cost Credit Providers, addressing compliance with the CJA 2010. 

In Europe, the European Banking Authority (EBA) published a Report on money laundering and terrorist financing (ML/TF) risks associated with EU payment institutions. The report highlighted that ML/TF risks in this sector may not be assessed and managed effectively by institutions and their supervisors.

As always, the regulatory landscape is ever-changing and adapting to new financial crime threats. Read our newsletter to understand these developments and how they might affect your organisation.