AML / KYC

Market Infrastructure

FSB Finalises Recommendations on Cross-border Payments

By Manesh Samtani | 13/12/2024

The recommendations aim to promote global alignment in legal, regulatory and data frameworks relevant to cross-border payments.

Sanctions

UK to Help Cyprus Establish Sanctions Implementation Unit

By Editors | 12/12/2024

That new unit will have new analytical tools and powers to investigate sanctions evasion and ensure the effectiveness of Russia-related sanctions.

AML / KYC

AUSTRAC Launches Consultation on New AML/CTF Rules Framework

By Manesh Samtani | 12/12/2024

This consultation covers several areas including AML/CTF programmes, risk assessments, customer due diligence and travel rule information requirements.

AML / KYC

AUSTRAC Gifts TAIPAN Technology System to PNG’s FIU

By Thisanka Siripala | 12/12/2024

AUSTRAC has now delivered TAIPAN to ten FIUs across the Pacific, enabling them to identify suspicious financial patterns indicative of illicit activity.

Enforcement

US Lawmakers Allege Widespread Abuse of BSA for Surveillance

By Thisanka Siripala | 11/12/2024

The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.

Sanctions

UK, US Issue Sanctions for Illicit Gold Trading, Human Rights Abuses

By Editors | 10/12/2024

The dozens of sanctions targets include a British-Kenyan businessman who ran a global gold smuggling and money laundering network in Zimbabwe.

AML / KYC

Egmont Group Offers Guidance to FIUs on Conducting NRAs

By Manesh Samtani | 10/12/2024

New Egmont Group report discusses best practices for identifying ML/TF risks, common challenges experienced in NRAs, and strategies for ensuring success.

AML / KYC

Australia Sets Out Beneficial Ownership Disclosure Policy for Unlisted Companies

By Sanday Chongo Kabange | 09/12/2024

Beneficial ownership information will be accessible to journalists, academics, AML/CTF reporting entities, regulators and law enforcement.

AML / KYC

FATF Should Recognise ‘Alternative Measures’ to Promote Inclusion

By Manesh Samtani | 09/12/2024

The Wolfsberg Group says the FATF standards should explicitly recognise and encourage “alternative measures” such as limited-purpose account types and tailored monitoring.