About Rachel Gauci

Rachel Gauci serves as Legal Counsel for Credorax, forming part of the legal team in the Malta office. She has over 3 years of experience in payment services legislation and anti-money laundering law.

Adv. Gauci holds a law degree from the University of Malta. Credorax, was the subject of the case study in her doctoral dissertation entitled, 'A Critical Analysis of the Payment Services Directive and its Practical Application'.

Prior to her role as Legal Counsel, Rachel was a Compliance Officer and an Anti-Money Laundering Legal Officer at Credorax.
Rachel provides legal advice on licensing requirements, contract negotiations, and any other ancillary issues concerning merchants, as well as legal advice concerning Credorax's core regulatory issues.
Connect with her: LinkedIn

The EU’s Fourth Money Laundering Directive


The sequel to the Third Money Laundering Directive (3MLD), in force since 2005, will finally be released, over a decade later — but ahead of schedule. The deadline for transposition of the Fourth Money Laundering Directive (4MLD) by Member States has been moved from June 26, 2017 to January 1, 2017. Subject persons, now known as “obliged entities,” will need to prepare themselves for this early transposition date by ensuring that their internal policies have taken the latest additions brought forward by this new directive into account.

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Do you really agree to the terms of use?


How many times have you updated your smart phone’s software this year — or even this month? Every time you clicked “I Agree,” you were actually signing an electronic agreement known as a ‘click-through agreement.’

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Is Electronic Signature Safe and Legally Binding?


In a world where technology is developing faster than legislators can handle, are we getting carried away with accepting new technology products before stopping to consider their legal effects? While security and consumer protection are indeed highly-debated issues in e-commerce, does anyone really have time to print out an agreement or a form, sign, scan, and return to sender?

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What You Need to Know About the New EU-U.S. Privacy Shield


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On February 2, 2016, the much-anticipated agreement between the EU Commission and the U.S. outlining the framework for the transfer of personal data was finalized. Following the invalidation of the Safe Harbour rules by the European Court of Justice (ECJ) on October 6, 2015, the Commission issued a new guidance on November 6, 2015. Continue Reading

European Parliament Votes to End Geo-Blocking

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As part of its Digital Single Market Strategy, the European Parliament voted on January 19th to combat the practice of geo-blocking in order to boost e-commerce within the EU Internal Market.Continue Reading

Are You Ready for Strong Customer Authentication?

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Now that the revised Payment Services Directive (PSD2) has been finalized, issues of transposition will come to the fore. This is because the PSD2 is expected to enter into force in January 2016 and to apply from January 2018.Continue Reading

The Digital Single Market Strategy: Innovation Meets Regulation

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In the payment services and e-commerce arena, EU regulators are striving to keep up with the rapid pace at which technology is advancing in order to properly regulate the various technologies currently in use and to ensure that consumers are protected.

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PSD II: One Step Closer

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On October 8, 2015, the proposed PSD II was formally approved by the European Parliament (EP) by 578 votes to 29, with 52 abstentions. Following the EP’s approval, now the proposed PSD II has reached the final stage where it is up to the Council of the EU to formally adopt the text and have it published in the official EU languages.Continue Reading

ISO 20022: We’re Just Getting Started

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Recently, a working group composed of payments processing experts completed work on a first draft of the ISO 20022 standards. These guidelines are aimed at encouraging the implementation of real-time electronic payments between financial institutions through standardized messages. This draft has already been circulated for review. The feedback from this review will be discussed at the upcoming International Swift banking conference, Sibos, which is being held next month in Singapore.Continue Reading

PSD II: Goals and Expectations



On May 5, 2015, the Economic and Monetary Affairs Committee MEPs, the Commission of the EU, and the Latvian Presidency of the Council, reached an informal agreement on the proposed revision of the Payment Services Directive (PSD), known as the PSD II. The agreement will be confirmed by the Council of the EU once the full text of the proposed directive is finalized at the technical level. The text will then be submitted to the European Parliament for a vote in a first reading, and then it will be sent on to the Council for final adoption.

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