The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    216.73.216.38

    Ireland Campaigns to make Dublin the EU AML Authority Headquarter

    n-img-irshish-document

    A team was established in the Department of Finance by the Irish government to campaign for Dublin as the EU’s Anti-Money Laundering Authority (AMLA) headquarters.

    Irish political figures, diplomats, and law enforcement professionals received the brochure from Irish government representatives that underlined the benefits of having the headquarters in Dublin. According to the government, the country has the third-highest level of science and technology graduates, convenient transport links, and a rigid financial regulatory framework. Ten nations, including Germany, France, Italy, Spain, Latvia, Lithuania, Austria, Belgium, Luxembourg, and Ireland, have expressed interest in moving the EU AMLA headquarters to Dublin.

    The AMLA will have a €400m annual budget and employ over 500 people in the headquarters. According to the Department of Finance spokesperson, they will continue to advocate for Dublin along with the Central Bank of Ireland to enhance EU financial intelligence units (FIUs) with advanced mechanisms and technology. The spokesperson stated, “Negotiations are ongoing between the European Parliament, EU Commission, and EU Council on the remaining parts of the AML package yet to be agreed,”

    The precise time and location of the AMLA headquarters are unknown, but it’s likely the EU parliament will disclose the location after returning from its summer recess. In the past, the location was decided by heads of state, but in 2022, the European Court of Justice (ECJ) sentenced “the competence to decide on [the location of the seat of the European Medicines Agency and the European Labour Authority] is for the EU legislature and not the Member States.”

    According to the statement by the heads of state, now all the decisions about the EU institutions fall in part of the usual co-legislative process, to simplify, the EU parliament’s decision has the exact worth of the EU Council. The critical point in the Irish pitch is the oreland size, and the EU should distribute regulation bodies across the member states.

    The official spokesperson added, “We believe that in the efforts to ensure no weak link in the chain, it is important that the particular issues for and perspectives of smaller and newer EU Member States need to be more clearly understood across the EU and Ireland has done much to ensure the same. Having AMLA in Ireland will make it more likely that those efforts can continue and be more successful on behalf of all the smaller or newer EU States. Ireland is viewed by our EU counterparts as a centre for strong regulation and enforcement. Locating AMLA in Dublin would further enhance our reputation and strengthen the perception of Ireland as a safe place to do business.”

    The Irish government has addressed this campaign three times since Amsterdam missed out on hosting the Medicines Agency in recent years. Similarly, in 2017 member states voted for Paris for the EU AMLA headquarters over Dublin. However, It is predicted that AMLA will officially operate in 2024, and the decision of headquarters to be in Paris or Dublin will be made soon. 

    Suggested Reads:

    SEC WARNS WALL STREET TO ENHANCE AML SYSTEMS

    THE US SECURITIES AND EXCHANGE COMMISSION IDENTIFIES AML FAILURES OF US BROKERAGE FIRMS

    US SENATOR JOE MANCHIN INTRODUCES DIGITAL ASSET ANTI-MONEY LAUNDERING ACT TO CURB UNAUTHORISED CRYPTO FLOW

    Related Posts

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...

    UK Parliament Legislates New Digital Identity Verification Services Bill Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Explore More

    News

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Explore More

    News

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    On Friday, an international financial watchdog committed to securing the global economic system a...

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities Explore More

    News

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations Explore More

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    International financial watchdogs have imposed a fine of over $500 million on TD Bank, Adelaide C...

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Explore More

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...

    UK Parliament Legislates New Digital Identity Verification Services Bill Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Explore More

    News

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Explore More

    News

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    On Friday, an international financial watchdog committed to securing the global economic system a...

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities Explore More

    News

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations Explore More

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    International financial watchdogs have imposed a fine of over $500 million on TD Bank, Adelaide C...

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started