Financial Action Task Force

AML / KYC

Vietnam Made “Minimal Progress” to Address AML Deficiencies

By Manesh Samtani | 27/06/2024

Vietnam was upgraded on just one recommendation for strengthening its correspondent banking requirements. The country is moved to enhanced follow-up.

AML / KYC

Singapore’s National Asset Recovery Strategy To Enhance AML Regime

By Nithya Subramanian | 27/06/2024

The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.

Sanctions

FATF Must Blacklist Russia Over DPRK Partnership, Ukraine Says

By Manesh Samtani | 24/06/2024

RUSI’s Tom Keatinge says the FATF could damage its legitimacy if it doesn’t have a response to the strengthening of ties between Russia and North Korea.

AML / KYC

Singapore Publishes Money Laundering Risk Assessment

By Manesh Samtani | 21/06/2024

Banking is Singapore’s highest risk sector. A key ML threat is cyber-enabled fraud, typically orchestrated by criminal syndicates located overseas.

AML / KYC

RUSI Identifies Typologies of Abuse of FATF Standards

By Manesh Samtani | 17/06/2024

RUSI identifies five major ways the FATF standards can be weaponised by authoritarian regimes to crack down on dissent and activism.

AML / KYC

Malaysia SC Issues Revised AML/CFT/CPF Guidelines

By Editors | 17/06/2024

The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.

AML / KYC

Russia to Dirupt FATF Plenary in Singapore, Ukraine Warns

By Editors | 12/06/2024

Ukraine is reportedly warning that Russia will send officials to the FATF Plenary in an attempt to “contact, influence and pressure delegates”.

AML / KYC

IFSCA Issues Regulatory Framework for “BATF Services” in GIFT City

By Ajoy K Das | 11/06/2024

The IFSCA has notified a regulatory framework for book-keeping, accounting, taxation and financial crime compliance services offered at GIFT City.

AML / KYC

GCFFC APAC Chapter Publishes First Financial Scams Report

By Manesh Samtani | 10/06/2024

The GCFFC calls for the establishment of an international task force or body with a clear anti-fraud and scams mandate.