Financial Action Task Force

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.

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.

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.

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.

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.

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.

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.

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.

Fintech / Regtech

India Expands Scope of Financial Services Offered in GIFT City

By Ajoy K Das | 24/01/2024

Ministry of finance notifies book-keeping, accounting, taxation and financial crime compliance as services that can be offered in IFSC