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Germany: Government Proposes Loss of German Citizenship for Foreign Fighters with Dual Citizenship

(May 20, 2019) On May 3, 2019, the press services of the German Bundestag (parliament) reported that the German government had submitted a draft act to amend the rules on German citizenship so that foreign fighters with dual citizenship would automatically lose their German citizenship. (Press Release, German Bundestag, Loss of German Citizenship (May 3, 2019), […]

Singapore: Payment Services Act Passed, Regulating Cryptocurrency Dealing or Exchange Services

(Apr. 17, 2019) On January 14, 2019, the Parliament of Singapore passed the Payment Services Act, bringing cryptocurrency dealing or exchange services under the supervision of the Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator. (Payment Services Act 2019, No. 2 of 2019 (Jan. 14, 2019, assented to by the President […]

Israel: Law on Freezing Revenues Designated for the Palestinian Authority Implemented

(Mar. 27, 2019) On February 17, 2019, the Israeli Defense Cabinet reportedly decided to deduct 500 million new Israeli shekels (about US$138.2 million) from the revenues transferred to the Palestinian Authority (PA) on the basis of Israeli domestic legislation for implementing the Israeli-Palestinian Interim Agreement (the Paris Protocol). (Noa Landau  & Jack Khoury, Israel Freezes […]

Taiwan: Money Laundering Control Act Amended, Regulating Virtual Currency Platforms

(Jan. 22, 2019) On November 7, 2018, Taiwan’s Money Laundering Control Act was amended to strengthen the legal compliance requirements for the internal control and auditing of financial institutions and to include virtual currency platforms within the regulatory scope of the Act. (Money Laundering Control Act (enacted Oct. 23, 1996, last amended Nov. 7, 2018), […]

China: Criminal Procedure Law Amended to Allow Criminal Trials in Absentia in Corruption Cases

(Jan. 10, 2019) On October 26, 2018, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) passed an amendment to the PRC Criminal Procedure Law (CPL). Among other things, the new CPL allows criminal trials in absentia particularly in corruption and bribery cases in which the […]

United States: Federal Appellate Court Rejects Suit to Hold Bank Liable for Soldier’s Death by Iranian Explosive in Iraq

(Jan. 2, 2019) The US Court of Appeals for the Seventh Circuit recently affirmed a lower court’s decision to dismiss plaintiff Rhonda Kemper’s complaint against Deutsche Bank (the Bank) for failure to state a claim under 18 U.S.C. § 2333, commonly referred to in judicial opinions as the Anti-Terrorism Act (ATA). (Kemper v. Deutsche Bank […]

Israel Becomes a Member of the Financial Action Task Force (FATF)

(Dec. 14, 2018) Israel became a full member of the FATF on December 10, 2018, following the publication of the FATF’s mutual evaluation report. (Israel Becomes a Member of the FATF, FATF (Dec. 10, 2018); FATF, Anti-money Laundering and Counter-Terrorist Financing Measures, Israel: Mutual Evaluation Report (Dec. 2018).) Congratulating Israel on its membership, FATF President […]

European Union: 5th Anti-Money Laundering Directive Enters into Force

(July 16, 2018) On July 9, 2018, the amendment of the European Union (EU) Anti-Money Laundering Directive (5th AMLD) entered into force. The AMLD obligates certain entities to fulfill customer due diligence requirements when they conduct business transactions and have in place policies and procedures to detect, prevent, and report money laundering and terrorist financing. […]

European Union: Provisional Agreement to Control Illicit Cash Flows in and out of the EU

(June 8, 2018) On May 23, 2018, the Council of the European Union (Council) and the European Parliament reached a provisional agreement on measures to control illicit cash flows in and out of the European Union (EU), in particular a revision of the Cash Controls Regulation (CRC). (European Commission Press Release IP/18/3867, Security Union: Commission […]

Brazil: Eleven Indicted for Helping Terrorist Group Islamic State

(May 30, 2018) On May 17, 2018, the Federal Public Prosecutor’s Office (Ministério Público Federal, MPF) indicted (denunciou) 11 Brazilian citizens for the formation of a criminal organization and promotion of the terrorist group Islamic State. (MPF Denuncia 11 Brasileiros por Promover Estado Islâmico, ISTO E (May 17, 2018).) According to the newspaper O Estado […]