All posts tagged "Money Laundering"
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158AML / KYCInaugural FATF Supervisors’ Forum Meets in China
The Supervisors’ Forum brought together supervisors from over forty countries to discuss ways in which oversight on ML/TF risks can be enhanced.
November 14, 2019 -
746AML / KYCChina Ramped Up AML/CTF Enforcement in 2018, PBOC Report Shows
Enforcement of AML/CTF rules increased in 2018, evidenced by a 41% increase in fines levied. Firms in non-financial sectors have also been brought under the PBOC’s AML/CTF supervision ambit.
November 14, 2019 -
497AML / KYCMalaysia Proposes Cash Payment Limit to Curb Financial Crime
The central bank says any action aimed at circumventing the proposed 25,000 ringgit cash transaction limit would be considered an offence for both the payer and payee.
November 8, 2019 -
710AML / KYCAustralia Has an IFTI Problem
Australia’s approach to international payments needs to change, and reporting entities need to update their legacy systems for better reporting, say Eric Knight and Nick Armstrong.
November 8, 2019 -
1.1KAML / KYCFATF Issues Draft Guidance on Digital Identity Systems
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.
November 1, 2019 -
426AML / KYCAUSTRAC: Mutual Banks Face High Money Laundering Risk
Mutual banks are vulnerable to money laundering due to their high exposure to cash transactions, non-face-to-face service delivery, and outsourcing of AML compliance processes.
October 31, 2019 -
444AML / KYCFATF Begins Assessment of Japan’s AML Regime
For the first time, cryptocurrency exchanges will also subject to the review, the first assessment of Japan’s AML system in 11 years.
October 30, 2019 -
597AML / KYCFATF Issues Best Practice Paper on Beneficial Ownership
FATF mutual evaluations have shown that many jurisdictions are still finding it challenging to ensure transparency of ownership of legal persons.
October 29, 2019 -
526AML / KYC
It’s Time to Reform and Refocus the FATF
The FATF's responsibilities and the efficiency and effectiveness of its evaluation process must be reassessed, says RUSI’s Tom Keatinge.
October 28, 2019 -
770AML / KYCAustralia Introduces Bill to Ease CDD Compliance Burden
The bill allows reporting entities to rely on CDD procedures performed by a third party. Meanwhile, a bill to limit cash payments to A$10,000 nationwide passes the lower house.
October 28, 2019
