Financial Action Task Force

AML / KYC

FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain

By Editors | 23/10/2019

Sri Lanka has made “significant progress” to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.

Fintech / Regtech

G20 Finance Leaders Agree to Regulate Stablecoins

By Editors | 21/10/2019

Amid warnings from the FSB and FATF, the G20 finance leaders have agreed that no stablecoin project should commence operation until their risks are evaluated and appropriately addressed.

AML / KYC

Refocusing the AML Model on Evidence and Outcomes

By Matthew Redhead | 14/10/2019

Under the current AML model, the ultimate focus for FIs is to protect the institution and the bottom line rather than reduce money laundering, says RUSI’s Matthew Redhead.

AML / KYC

APG Publishes Final Mutual Evaluation Report for Taiwan

By Editors | 03/10/2019

Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.

AML / KYC

SFC Asks Licensed Firms to Bolster AML/CTF Compliance

By Editors | 09/09/2019

Following the release of the FATF mutual evaluation report for Hong Kong, the SFC has highlighted key work areas for licensed firms and their associated entities.

AML / KYC

HKMA Offers Guidance in Response to FATF Report

By Manesh Samtani | 06/09/2019

Banks and SVF operators are asked to explore how technology can be used to more effectively and efficiently combat risks, including through the use of analytics in monitoring.

AML / KYC

FATF Releases Mutual Evaluation Report for Hong Kong

By Manesh Samtani | 04/09/2019

Hong Kong needs to enhance prosecution of money laundering involving crimes committed abroad and strengthen supervision of certain non-financial businesses.

AML / KYC

BNM to Enforce AML Compliance at Law Firms in 2020

By Editors | 30/08/2019

BNM assistant governor Encik Adnan Zaylani Mohamad Zahid warns that enforcement action will be taken against legal professionals for AML non-compliance starting in 2020.

AML / KYC

APG: Good Progress from Taiwan; Pakistan Falls to ‘Enhanced Follow-up’

By Editors | 26/08/2019

The APG has adopted mutual evaluation reports for the Philippines, China, Hong Kong, Pakistan, Taiwan and the Solomon Islands – due to be published in October.