Financial Action Task Force

AML / KYC

GCFFC Developing Global Model to Assist in Prioritising Financial Crime Types

By Manesh Samtani | 23/04/2025

The model will provide authorities with a common basis to prioritise financial crimes based on pre-set criteria, ensuring they can maximise the use of limited resources.

AML / KYC

Pakistan to Introduce Centralised Beneficial Ownership Registry

By Mark Johnston | 18/04/2025

The UBO registry, accessible to financial institutions, is part of Pakistan’s broader efforts to align with FATF and OECD standards.

Crypto / Digital Assets

Pakistan Moves to Regulate Virtual Assets for the First Time

By Mark Johnston | 17/04/2025

A national working group has developed a regulatory framework establishing rules for cryptocurrencies and related platforms.

AML / KYC

China Issues Draft AML Rules for Law Firms for Consultation

By Manesh Samtani | 15/04/2025

Among other things, the draft regulations require law firms to establish internal controls, conduct risk assessments, perform CDD, preserve records, and submit STRs.

AML / KYC

Singapore to Tighten AML Rules for Real Estate Sector

By Nithya Subramanian | 09/04/2025

A new bill proposes stronger penalties for AML compliance failures by real estate professionals and developers, among other measures.

AML / KYC

MAS Proposes Amendments to AML/CFT Rules for FIs and VCCs

By Nithya Subramanian | 09/04/2025

MAS proposes the explicit inclusion of PF in the AML/CFT framework, stricter STR filing timelines, and enhanced transparency requirements for trusts.

AML / KYC

Nepal Reveals Surge in Transaction Reporting as it Battles FATF Greylist

By Nathan Lynch | 09/04/2025

Nepal’s efforts to combat financial crime have led to an increase in STR filings, led by banks but also including DNFBPs.

AML / KYC

The Final Countdown: Practical Steps for Meeting Australia’s ‘Tranche 2’ Deadline

By Nathan Lynch | 02/04/2025

Only an April Fool would ignore the tight deadline for compliance with Australia’s Tranche 2 anti-money laundering reforms, writes Nathan Lynch.

AML / KYC

China Issues Draft AML Rules for Notary Offices for Consultation

By Manesh Samtani | 31/03/2025

Notary offices were brought into scope of China’s AML laws through revisions passed in November 2024.