Q3 2022 - PwC Financial Crime update

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

From an Irish persepctive, in July, the Central Bank published a bulletin in relation to Virtual Asset Service Providers (VASPs), seeking to assist applicant firms to strengthen both their applications for registration and their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Frameworks

While in Europe, in June 2022, the European Banking Authority (EBA) published Guidelines detailing the roles and responsibilities of the anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officer and of the management body of credit or financial institutions. 

In May 2022, the European Supervisory Authorities published a joint Report, which provides a comprehensive analysis on the completeness, adequacy and uniformity of the applicable laws and practices on the withdrawal of license for serious breaches of the rules on AML/CFT. 

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.