Financial Action Task Force

AML / KYC

Understanding the Value of Global Identifiers in the Fight Against Financial Crime

By Clare Rowley | 31/08/2023

Clare Rowley explores how the LEI is uniquely positioned to strengthen the fight against international financial crime.

AML / KYC

FATF Releases Mutual Evaluation Report for Brunei

By Manesh Samtani | 30/08/2023

The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.

AML / KYC

Laos AML/CFT Regime Has “Significant Deficiencies” – FATF

By Manesh Samtani | 30/08/2023

Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.

AML / KYC

Wolfsberg Group Responds to FATF Consultation on NPO Standards

By Sanday Chongo Kabange | 23/08/2023

It says NPOs should be required to conduct their own risk assessments and deploy risk-based controls similar to those used by correspondent banks.

AML / KYC

FCA Sets Out Expectations on Crypto Travel Rule Compliance

By Manesh Samtani | 18/08/2023

UK firms that receive a crypto transfer with incomplete information may block the beneficiary from accessing the crypto.

AML / KYC

Pakistan Passes Bill to Establish New AML/CFT Authority

By Editors | 04/08/2023

State Minister for Foreign Affairs Hina Rabbani Khar said the legislation will help to ensure Pakistan remains off the FATF grey list.

AML / KYC

Mongolia Becomes First APAC Country to Implement All FATF Recommendations

By Ranamita Chakraborty | 03/08/2023

While the 40 FATF Recommendations are not legally binding international conventions, Mongolia sees full compliance as validation for its efforts to improve anti-money laundering capabilities.

AML / KYC

Malaysia Records Surging Suspicious Transactions and Scams

By Ranamita Chakraborty | 31/07/2023

Bank Negara Malaysia’s deputy governor revealed that the central bank’s financial intelligence unit saw a nearly 30 percent increase in suspicious transaction reports compared to the previous year.

AML / KYC

ESMA Withdraws Recognition Decisions for UAE CCPs

By Editors | 26/07/2023

The recognition decisions were withdrawn due to the UAE’s including in the EU’s AML blacklist.