Anti-Money Laundering

Anti-Money Laundering

BOT Extends Deadline for PayPal’s AML Compliance to Year-End

By Sanday Chongo Kabange | 08/03/2022

PayPal was scheduled to suspend most services for Thai consumers from 7 March as part of a relaunch of its services to comply with local regulations.

Anti-Money Laundering

Bangladesh to Investigate Allegations in Panama, Paradise Papers

By Editors | 07/03/2022

A committee has been formed to investigate the money laundering allegations against Bangladeshi nationals named in the Panama Papers and Paradise Papers.

Anti-Money Laundering

FATF Plenary Finalises New Beneficial Ownership Requirements

By Manesh Samtani | 06/03/2022

Plenary adopts amendments to Recommendation 24, approves revised methodology for mutual evaluations, publishes draft guidance for real estate sector.

Anti-Money Laundering

FATF Concerned About Impact of Ukraine Invasion on Risk Environment

By Editors | 06/03/2022

Russia’s actions run counter to the FATF core principles. The FATF is reviewing Russia’s role at the FATF and will consider steps to uphold its core values.

Anti-Money Laundering

KoFIU Directs Crypto Exchanges to Improve AML Staffing

By Sanday Chongo Kabange | 05/03/2022

The proportion of staff dedicated to AML compliance at Korea’s crypto exchanges stands at around 8 percent.

Anti-Money Laundering

UK, UAE Launch New Toolkit Targeting Illegal Wildlife Trade

By Editors | 04/03/2022

Financial institutions worldwide are urged to adopt the toolkit; share it with colleagues, peers and industry partners; and take action to stamp out IWT.

PEPs & Sanctions

DOJ Launches New Task Force Targeting Russian Oligarchs

By Editors | 04/03/2022

Task Force KleptoCapture will use “the most cutting-edge investigative techniques” to identify sanctions evasion and related criminal misconduct by Russian oligarchs.

Anti-Money Laundering

GCFFC Offers Recommendations on Improving FATF Mutual Evaluations

By Manesh Samtani | 03/03/2022

Mutual evaluations also do not adequately take into account threat, materiality, and contextual factors. The FATF should promote the use of PPPs and data sharing.

Anti-Money Laundering

CBSL Calls on Public to Report Illegal FX Dealers

By Duruthu E Chandrasekera | 03/03/2022

The public is asked to inform the Foreign Exchange Department of CBSL of any person, institution or any other entity that is engaged in unauthorized FX dealings.