Financial Action Task Force

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    Sanctions

    Expert Calls for International Sanctions on Myanmar Central Bank

    By Editors | 15/07/2024

    Sean Turnell says sanctioning the CBM would effectively embargo Myanmar’s entire banking system and limit the SAC’s ability to oppress the Myanmar people.

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    AML / KYC

    UK FCA to Introduce Criminal Checks in Authorisation Process

    By Editors | 12/07/2024

    Controllers and beneficial owners of FIs would be subject to criminal background checks when they apply for authorisation or registration.

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    AML / KYC

    FATF Calls for Urgent Action to Regulate Gatekeeper Professions

    By Manesh Samtani | 11/07/2024

    Australia, China, the US, and South Korea scored the lowest on compliance with the FATF’s corruption prevention standards.

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    AML / KYC

    Global Implementation of AML Measures for Crypto “Still Lagging”

    By Manesh Samtani | 10/07/2024

    The FATF says there has been “negligible improvement” in regulating virtual assets and “insufficient progress” in implementing the travel rule.

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    Crypto / Digital Assets

    EBA Publishes Travel Rule Guidelines for Crypto Sector

    By Editors | 05/07/2024

    The guidelines specify the information that should accompany crypto transfers, and what CASPs should do when information is missing.

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    AML / KYC

    Mexico’s Elisa de Anda Madrazo Assumes FATF Presidency

    By Manesh Samtani | 04/07/2024

    Elisa De Anda Madrazo will serve as FATF President from July 2024 to June 2026, taking over from T. Raja Kumar of Singapore.

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    AML / KYC

    FATF Plans to Update Guidance for Money Laundering NRAs

    By Editors | 04/07/2024

    The FATF aims to make NRA guidance “more effective, comprehensive and useful for all stakeholders involved”.

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    AML / KYC

    Singapore Introduces New Anti-Money Laundering Bill

    By Nithya Subramanian | 04/07/2024

    The new Anti-Money Laundering and Other Matters Bill aims to make it easier to prosecute money laundering cases and tightens casino rules.

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    AML / KYC

    Thai Regulators Ask Banks to “Strictly” Adhere to AML Law

    By Nithya Subramanian | 03/07/2024

    The Bank of Thailand and AMLO have asked financial institutions to follow enhanced due diligence procedures for both customers and their transactions.

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    AML / KYC

    Singapore Releases Two Reports Tackling Terrorism Financing

    By Nithya Subramanian | 02/07/2024

    The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.

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