All posts tagged "beneficial ownership"
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219AML / KYCFATF Concludes Plenary, Finalises Work in Key Areas
The FATF will issue updated guidance for VASPs next week. A statement on Afghanistan was released. Beneficial ownership and cross-border payments also in focus.
October 23, 2021 -
128AML / KYCFATF Keeps Pakistan on Grey List with 4 Action Items Outstanding
Marcus Pleyer said "there is no discussion on blacklisting Pakistan" as its government has demonstrated a "clear commitment" and is cooperating with the FATF.
October 22, 2021 -
337AML / KYCFATF Addresses Pandora Papers With New BO Requirements
The FATF proposes countries be required to assess the AML/CTF risks associated with foreign-created legal persons, and take steps to manage and mitigate them.
October 22, 2021 -
278AML / KYCFATF Re-rates China on Six Recommendations
The FATF acknowledges work underway to revise China's AML laws to bring DNFBPs into scope and set a foundation for a new beneficial ownership regime.
October 11, 2021 -
216AML / KYCNew Zealand Consults on Broad Changes to AML/CFT Act
Changes being considered include the introduction of a new registration regime for all AML/CFT businesses, a licensing regime for VASPs, and direct penalties for senior managers.
October 8, 2021 -
721AML / KYCFATF Report Highlights Opportunities for Japan’s FIs
Matthew Field discusses how Japan's FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.
September 24, 2021 -
307AML / KYCBasel AML Index Calls Out Ineffectiveness Across Jurisdictions
Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.
September 22, 2021 -
302AML / KYCPhilippine AMLC Asks Firms to Provide UBO Information in STRs
The FATF action plan requires the Philippines to enhance and streamline law enforcement agencies’ access to accurate and up to date beneficial ownership information.
September 10, 2021 -
188AML / KYCSingapore Court Jails Russian National for Deceiving Banks
The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.
September 9, 2021 -
495AML / KYC
FATF Releases Mutual Evaluation Report for Japan
The report says more needs to be done to combat organised crime and WMD proliferation risks, and a joint-agency body should be designated for setting national AML/CFT policies.
August 31, 2021
