Financial Action Task Force

AML / KYC

Wolfsberg Group Issues Payment Transparency Roles & Responsibilities Guidance

By Editors | 23/12/2024

The guidance aims to help PSPs, regulators, and standard-setters understand their respective obligations in ensuring payment transparency.

AML / KYC

Malaysia Advances Bill to Amend Trustee Act for AML/CFT

By Editors | 17/12/2024

The amendments will impose AML/CFT obligations on trustees, including requirements to maintain records on beneficial ownership.

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.

AML / KYC

Basel Institute on Governance Publishes 2024 Basel AML Index

By Manesh Samtani | 04/12/2024

In Asia, New Zealand, Australia, Taiwan, Brunei, and South Korea scored the best while Myanmar, Lao PDR, China, Vietnam, and Cambodia scored the worst

AML / KYC

Australian Parliament Passes Historic AML/CTF Amendment Bill

By Thisanka Siripala | 29/11/2024

The bill extends AML/CTF obligations to lawyers, accountants, TCSPs, real estate professionals, and dealers in precious metals and stones.

AML / KYC

Wolfsberg Group Defines Key Terms Related to Digital Assets

By Manesh Samtani | 27/11/2024

The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

Sanctions

Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say

By Editors | 27/11/2024

US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.

AML / KYC

Eurojust Establishes Judicial Focus Group to Combat Money Laundering

By Mark Johnston | 26/11/2024

Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.

AML / KYC

Australia’s AGD Issues Supplementary Submission on AML Amendment Bill

By Thisanka Siripala | 13/11/2024

The AGD responds to issues raised in submissions to the Senate Legal and Constitutional Affairs Legislation Committee on certain aspects of the Bill.