Financial Action Task Force

AML / KYC

European Parliament Gives Final Approval on MiCA Law

By Manesh Samtani | 21/04/2023

MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.

AML / KYC

Australia Opens Consultation on ‘Tranche 2’ AML Reforms

By Sanday Chongo Kabange | 21/04/2023

The proposed reforms will extend the AML/CTF regime to lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones.

AML / KYC

FATF Reiterates Calls for Global Adoption of Crypto AML Rules

By Editors | 20/04/2023

At a meeting in Tokyo last week, officials and the private sector discussed global progress and challenges in regulating virtual assets.

AML / KYC

Australia Revisits ‘Tranche 2’ AML Reforms – Report

By Editors | 17/04/2023

The government is expected to settle its position on AML reforms this month that could cover the real estate, accounting and legal professions.

AML / KYC

Working Group Formed to Update Crypto’s IVMS101 Standard

By Manesh Samtani | 16/04/2023

The working group will update the IVMS101 standard and develop other standards to create “greater consistency and integrity” within the crypto ecosystem.

AML / KYC

EU-Funded Report Explores Crypto Use in Darknet Markets

By Mark Johnston | 12/04/2023

Law enforcement needs training, resources, technology and cooperation to effectively investigate darknet markets, which grew 469-fold between 2011 and 2020.

AML / KYC

FATF Holds First In-Person Joint Experts Meeting Since 2019

By Editors | 11/04/2023

The three day event covered themes including cyber-enabled fraud, terrorist financing through crowdfunding, and the risks and challenges associated with hawala.

AML / KYC

Germany to Establish New Agency to Fight Financial Crime

By Sanday Chongo Kabange | 02/04/2023

The ‘Federal Authority for Fighting Financial Crime” will absorb the functions of the FIU and also be responsible for enforcing international sanctions.

AML / KYC

26 Countries Commit to Transparent Beneficial Ownership

By Manesh Samtani | 29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.