Wire Transfers

The EU Wire Transfer Regulation came into force in January 2007 and was developed to prevent money launderers and terrorist financiers using electronic means to transfer funds without having to disclose their identity.  The Wire Transfer Regulation applies to all legal or natural persons whose businesses includes the provision or transfer of funds services.  The Wire Transfer Regulation requires that Payment Service Providers (PSPs) include key information in all electronic funds transfers and must have in place measures to verify that information.  Key information is usually the name, address and account number of the person or entity making the payment, although there are exceptions to this in certain circumstances. Failure to comply with the Wire Transfer Regulation is a criminal offence punishable by a fine and/or up to two years’ imprisonment therefore any allegations should be taken very seriously.

We provide an advisory service to businesses on all aspects of EU law surrounding wire transfers, and money laundering, whether you are looking for advice on preventative measures or if you are facing allegations or are under investigation, we can provide expert guidance.

Bright Line Law is a specialist, barrister led law firm providing advice and representation on all aspects of financial law, including money laundering regulations. Our lead counsel, Jonathan Fisher QC is well regarded in industry and in the legal profession for his understanding of anti-money laundering law, and ability to deploy this effectively in defending both individual and corporate clients facing investigation or  prosecution by regulators. Contact Jonathan Fisher QC directly at jf@brightlinelaw.co.uk or another member of our team or telephone us on + 44 (0)203 709 9470.

Jonathan Fisher QC
Lead Counsel

Email jf@brightlinelaw.co.uk
Telephone + 020 3872 2852

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