The amendments will update rules on correspondent banking and customer due diligence to reflect legislative changes passed in December.
January 28, 2021As we inaugurate the next phase of international trade, the FATF is pushing trade-based money laundering to the top of the international community’s agenda, says Claus Christensen at Know Your Customer.
January 28, 2021The 22-year-old was used to receive funds stolen from Australian bank accounts by a cybercrime syndicate before he transferred it overseas with Bitcoin.
January 27, 2021Incoming Treasury Secretary Janet Yellen thanked Congress for passing the AMLA, widely considered to be the most significant overhaul of AML legislation in the US since 2001.
January 25, 2021New report details case studies and insights from banks that have implemented technologies to enhance the efficiency and effectiveness of their AML/CFT efforts.
January 22, 2021If the PBOC identifies a non-bank payment institution as a monopoly, it can advise the State Council's antitrust committee to take action to break up the firm.
January 22, 2021Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.
January 21, 2021Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.
January 20, 2021The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.
January 19, 2021Failures to perform customer identification and to report lar-value and suspicious transactions were the most frequent reason for the penalties.
January 14, 2021