From KYC to AML: How the Legal Entity Identifier (LEI) enhances Financial Crime Detection
The Legal Entity Identifier (LEI) unlocks the benefits of enhanced entity identification by reducing systemic risk and increasing transparency in financial markets.
EU Commission propose new AML/CFT Regulations featuring the LEI System
The European Commission have announced a long-awaited AML Package and new regulatory body to govern its implementation and compliance. The Legal Entity Identifier is chosen as a trusted means to identify counterparties to transactions.
The European Commission have announced the long-awaited AML Package and new regulatory body to govern its implementation and compliance.
The package put forth aims to put in place a new watchdog called the EU AML Authority (AMLA) and draft a new single EU Rulebook for AML/CFT obligations.
A new EU regulatory watchdog has been proposed in order to ensure the private sector correctly and consistently applies EU AML rules.