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Israel: Anti-Money Laundering Law Amended

(Oct. 7, 2014) On July 30, 2014, the Knesset (Israel’s parliament) passed the Prohibition on Money Laundering (Amendment No. 13) Law, 5774-2014 (Amendment Law [in Hebrew], Knesset website [scroll down to appropriate link on the right]), amending the 2000 law on the subject. (Prohibition on Money Laundering Law, 5760-2000, SEFER HAHUKIM 5760 No. 1753 p. […]

Canada: Canada Passes Law Regulating Virtual Currencies as “Money Service Businesses”

(July 9, 2014) On June 19, 2014, the Governor General of Canada gave his royal assent to Bill C-31 (An Act to Implement Certain Provisions of the Budget Tabled in Parliament on February 11, 2014 and Other Measures (Bill C-31), STATUES OF CANADA 2014, Ch. 20), which includes amendments to Canada’s Proceeds of Crime (Money […]

Egypt: Presidential Decree Amending the Law on Money Laundering to Combat Terrorism

(May 20, 2014) On May 13, 2014, Egypt’s Interim President, Adly Mansour, issued a decree amending Law No. 80 of 2002 on combating money laundering. The purpose of the amendment is to curb the wave of terrorist acts that have plagued the country since July 2013. (A Presidential Decree to Modify Law to Combat Money […]

Mexico; United States: Agreement to Establish Joint Anti-Money Laundering Body

(Apr. 4, 2014) In March 2014, attorney generals from California, Colorado, Florida, Nevada, and New Mexico signed a letter of intent aimed at establishing a binational anti-money laundering working group with Mexico’s National Banking and Securities Commission. (Press Release, Attorney General Kamala D. Harris, U.S. State Attorneys General Sign Anti-Money Laundering Cooperation Agreement with Mexico […]

Angola: Anti-Terrorism and Money Laundering Law

(Feb. 28, 2014) On February 10, 2014, Angola’s National Assembly (the parliament) enacted Law No. 3, which further criminalizes money laundering offenses related to the financing of terrorism (Lei No. 3/14, de 10 de Fevereiro, Secretariat of the Council of Ministers of the Republic of Angola website [choose Legislação Complementar Relevante in category dropdown box […]

Canada: Anti-Money Laundering and Anti-Terrorist Financing Regulations for Virtual Currencies to Be Introduced

(Feb. 14, 2014) On February 11, 2014, the Canadian Finance Minister, Jim Flaherty, unveiled the Federal Budget for 2014, which included a brief mention of the plans of the Canadian government to introduce anti-money laundering and anti-terrorist financing regulations for virtual currencies such as Bitcoin. (Hon. James M. Flaherty, The Road to Balance: Creating Jobs […]

Panama; United States: Agreement on Forfeited Funds

(Jan. 6, 2014) The United States and Panama signed an agreement in October 2013 under which they will share over $36 million in forfeited assets. (Press Release, U.S. Department of Justice, U.S. Deputy Attorney General Cole and Panamanian Attorney General Belfon Sign Agreement to Share Forfeited Assets (Oct. 22, 2013).) The agreement was reached following […]

Indonesia: Bill on Money Laundering Considered in House

(Dec. 27, 2013) Indonesia’s House of Representatives (Dewan Perwakilan Rakyat Republik Indonesia) is considering a new law on money laundering. (Draft Law … on the Prevention and Suppression of the Crime of Money Laundering [in Indonesian], House of Representatives website (last visited Dec. 24, 2013).) The draft legislation is now listed as “under discussion by […]

Dominican Republic; United States: Agreement to Launch Trade Transparency Unit

(Nov. 1, 2013) On September 26, 2013, the Dominican Republic’s Customs Authority (DRCA) and the Homeland Security Investigations (HSI) directorate of U.S. Immigration and Customs Enforcement signed a letter of intent to set up a trade transparency unit in Santo Domingo, in order to share information and improve detection of commercial fraud and money laundering […]

Netherlands: Draft Legislation on Financial-Economic Crime

(July 17, 2013) It was reported on July 5, 2013, that the Ministry of Security and Justice has submitted to the lower house of the Dutch Parliament, the Tweede Kamer, draft legislation on financial and economic crime. The proposed law would tighten current provisions on such offenses found in the Penal Code and other laws. […]