PwC Financial Crime update - Q4 2022

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

In Ireland, there have been updates in relation to access to the register of beneficial ownership (RBO) as well as updated information in relation to Ireland’s Safe Deposit Box Bank and Payment Accounts Register (ISBAR). The IMF also published its Financial Sector Assessment Program Technical Report on Anti-Money Laundering/Combatting the Financing of Terrorism for Ireland.

From a European perspective, in November 2022, the European Banking Authority (EBA) published its final Guidelines on the use of remote customer onboarding solutions while the European Payments Council also published their annual Payment Threat and Fraud Trends Report. 

Globally, the Wolfsberg Group published its updated Financial Crime Principles for Correspondent Banking in October of this year to provide guidance and best practices for banks.

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.