AML / KYC

Policy effectiveness expert Dr Ronald F Pol says the current anti-money laundering system only results in 0.1% of the proceeds of crime actually being seized.

The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.

The adviser helped a former company director illegally remove company assets to prevent creditors from accessing them post-winding up.

Nick Turner at Steptoe & Johnson explains the implications of the FATF's recent decision to return Iran to its so-called ‘blacklist’.

A Senate committee tasked with reviewing a bill to criminalise cash transactions over A$10,000 has reportedly thrown its support behind the proposed legislation.

Fenergo's Niall Twomey outlines a recipe for e-KYC Utility success, based on research of previous attempts in the marketplace, and looking at current initiatives being explored globally.

Digital identity systems could form a significant component of the compliance infrastructures at the new digital banks in the years to come, says Refinitiv’s Phillip Malcolm.

The initiatives include a waiver on stamp duties paid by ETF market makers, tax concessions for private equity funds, and planned enhancements to Hong Kong's AML/CTF regime.

The temporary measures are aimed at reducing the risk of Covid-19 infection from face-to-face meetings between insurers, intermediaries and clients.

At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.