Financial Action Task Force

AML / KYC

MONEYVAL Calls for Clampdown on Crypto-enabled Money Laundering

By Mark Johnston | 11/05/2022

Some smaller cryptocurrencies are being established specifically with the motive of laundering, while larger virtual assets are seeing “heavy” manipulation.

AML / KYC

AMLC Philippines Launches Review of Sanctions Screening Practices

By Editors | 26/04/2022

The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.

AML / KYC

European Crypto Firms Push Back Against Proposed Regulations

By Editors | 24/04/2022

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

AML / KYC

FATF Vows ‘Swift and Decisive Action’ on Effectiveness

By Editors | 22/04/2022

The commitment includes action to promptly implement global beneficial ownership rules and increase countries’ capabilities to recover criminal assets.

Crypto / Digital Assets

FSB Warns of Emerging Vulnerabilities, Financial Stability Risks

By Manesh Samtani | 21/04/2022

Global financial stability cannot be taken for granted going forward, FSB Chair Klaas Knot said in a letter to G20 Finance Ministers and Central Bank Governors.

AML / KYC

Countries Must ‘Redouble Efforts’ to Fight Financial Crime: FATF

By Manesh Samtani | 19/04/2022

The FATF finds that countries have made “huge progress” in improving technical compliance, but many still face substantial challenges in taking effective action.

AML / KYC

Hong Kong is Moving to a Robust Regulatory Framework for Crypto

By Etelka Bogardi | 19/04/2022

Etelka Bogardi and Amy Chung say Hong Kong’s efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.

AML / KYC

FSA Offers Update on Work to Strengthen Japan’s AML System

By Manesh Samtani | 17/04/2022

Discussions are underway on the implementation of a new shared transaction monitoring and screening system. A new ‘beneficial ownership list system’ has been established.

AML / KYC

India Introduces Bill to Outlaw Proliferation Financing

By Sanday Chongo Kabange | 07/04/2022

The Bill will also give the government powers to freeze, seize or attach funds or other financial assets or economic resources to prevent WMD financing.