All posts tagged "FATF"
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585AML / KYCMyanmar: YSX, Securities Firms Directed to Enhance AML Controls
The YSX is asked to strengthen internal controls and establish an audit committee; six securities firms are asked to address document collection and record-keeping deficiencies.
May 25, 2020 -
1.0KAML / KYCCambodia Approves Draft Laws to Curb Money Laundering
The draft bills were reportedly motivated by Cambodia's placement on the FATF's 'grey-list' last year, which impacts foreign investment and the economy.
May 20, 2020 -
1.5KAML / KYCFSI Takes Stock of Official Sector Response to Rising Financial Crime
There are trade-offs between expecting FIs to enhance or adjust their cyber resilience and AML frameworks, versus avoiding excessive burdens that could hinder the delivery of key financial services.
May 17, 2020 -
1.5KAML / KYCIndustry Bodies Publish New Messaging Standard for Virtual Assets
The messaging standard is aimed at helping virtual asset service providers comply with FATF requirements to collect and transfer originator and beneficiary information.
May 13, 2020 -
1.1KAML / KYCGovernments Failing to Stop Money Laundering: FATF Official
Many countries have shown a last-minute commitment to tackling money laundering and a sudden uptick in investigations only because they faced an upcoming FATF evaluation.
May 13, 2020 -
1.3KAML / KYCEuropean Commission Sets Out Action Plan to Root Out AML Loopholes
A single EU rulebook will minimise interpretation and implementation discrepancies across member states, and an EU-level AML/CFT body will address supervisory gaps.
May 10, 2020 -
1.1KAML / KYC
FATF Offers Policy Guidance for Managing Covid-19 Related AML Risks
FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.
May 5, 2020 -
3.2KAML / KYCUS Prosecutors Target Foreign Bank Records in North Korean Cyber Hunt
US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.
May 5, 2020 -
954AML / KYCFATF Postpones Mutual Evaluations, Follow-up Deadlines
All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.
April 30, 2020 -
739AML / KYCPBOC Penalties for AML Violations Spike in Q1 2020
The increase in penalties is in part the result of a new calculation method in use at the PBOC, where penalties can now accumulate when multiple breaches occur at once.
April 29, 2020
