Skip to main content

The FCA Fourth Money Laundering Directive and Fund Transfer Regulation Implementation (DEPP and EG)

  • This risk-based approach requires firms:

    • low value e-money products, but also allows them to apply such measures in other cases that they assess as low risk; and

    • o apply enhanced due diligence measures in higher risk cases 

    • <

    xxx

    Comments

    Post a Comment

    Popular posts from this blog

    There is no excuse for not taking cards

    So we went to the pub. For lunch. Seven of us. Say £20 per head. £100+ quid. Say £50 quid gross for the pub. Colleague goes to order food and drinks and pay at the bar. Apologetic barmaid comes over to explain that their “card machine” is down, so she can only accept cash. Under normal circumstances I would have simply walked out, feeling it wholly inappropriate to reward such a poorly managed establishment and, as a functioning actor in a capitalist economy, done my duty to depress their lunchtime takings. Here’s what we wanted to say: This is absurd. This is 2016 not 1916. Your card machine is down? Well, so what! Are you seriously telling me that mein host has no mobile phone number capable of registering for PingIt or PayM? That none of the staff or the pub itself have a PayPal account that I can send the money to? That neither the owners nor managers not contingency planners thought to tuck an iZettle behind the bar to use when the clunky and expensive GPRS terminal fails for o...
    Post a Comment
    Read more