Financial Action Task Force

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    Crypto / Digital Assets

    Russia Re-rated on Four FATF Recommendations

    By Editors | 04/03/2024

    Russia was upgraded on R.6, R.7, and R.25, and downgraded on R.15 because digital currency activities are largely unregulated.

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    Securities / Derivatives

    SEBI Proposes Relaxed Disclosure Rules for Certain FPIs

    By Ajoy K Das | 02/03/2024

    Category I FPIs that are university funds or university-related endowments would be exempt from enhanced disclosure requirements.

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    AML / KYC

    FATF Consults on R.16 Changes to Improve Payment Transparency

    By Manesh Samtani | 27/02/2024

    The revisions would help guard against fraud by requiring beneficiary FIs to check the alignment of beneficiary information in payment messages.

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    Sanctions

    Ukraine Calls on FATF to Take Stronger Action on Russia

    By Editors | 26/02/2024

    Russia has been procuring missiles from Iran and North Korea for use against Ukraine in violation of UN sanctions, the Ukrainian Finance Ministry said.

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    AML / KYC

    FATF Plenary Concludes With Beneficial Ownership, NPOs, Crypto in Focus

    By Manesh Samtani | 23/02/2024

    Kenya and Namibia were added to the FATF’s grey list while Barbados, Gibraltar, Uganda and the UAE were removed.

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    AML / KYC

    GCFFC Europe Chapter Sets Financial Crime Priorities for 2024

    By Mark Johnston | 13/02/2024

    The priorities include economic security, beneficial ownership, professional money launderers and public-private partnerships.

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    AML / KYC

    ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

    By Editors | 07/02/2024

    Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

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    AML / KYC

    Singapore: ACIP Issues AML/CFT Guidance to Address CSP Risks

    By Nithya Subramanian | 07/02/2024

    New ACIP paper offers recommendations for banks that receive customer referrals from corporate service providers.

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    AML / KYC

    China to Amend AML Law to Address Virtual Asset Risks

    By Manesh Samtani | 01/02/2024

    Draft amendments bring virtual assets into scope. FIs would also be required to assess money laundering risks before adopting new technologies and launching new products.

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    Crypto / Digital Assets

    FSB Workplan Includes Global Push to Implement Crypto Rules

    By Mark Johnston | 25/01/2024

    FSB said that implementation of its recommendations for crypto assets and careful monitoring are essential for the crypto market.

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