All posts tagged "CFT"
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217AML / 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 -
203AML / KYCInconsistent AML Approaches Cause Cross-border Payment Frictions
The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.
October 23, 2021 -
168AML / KYCIndia, US Pledge to Take Stronger Action Against Financial Crime
Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.
October 20, 2021 -
145AML / KYCSingapore Consults on Amendments to Accountants Act
Under the changes, ACRA can conduct inspections on accountants for compliance with AML/CFT requirements, and impose penalties for non-compliance.
October 20, 2021 -
137Australia & NZRBNZ Consults on Approach to Enforcement Decision-making
A new consultation paper seeks feedback on the principles and criteria which will guide the RBNZ's enforcement decision-making process moving forward.
October 14, 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 -
299AML / KYCLack of Crypto Regulation Presents Financial Stability Risk: IMF
The IMF says more coordination among national regulators is needed to ensure effective enforcement, reduce regulatory arbitrage, and enhance monitoring of the crypto ecosystem.
October 6, 2021 -
490AML / KYCMAS to Deploy Information Sharing Platform for AML/CFT
The COSMIC platform will be developed and deployed in phases. The initial participants are DBS, OCBC, UOB, StanChart, Citibank and HSBC.
October 3, 2021 -
155AML / KYCNZ FMA Toughens Approach to AML Non-Compliance
The FMA's James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.
October 1, 2021
