VerifyVASP will be able to help VASP clients obtain an LEI, which can be used in counterparty due diligence and travel rule compliance.
May 26, 2023RUSI's Fatima Alsancak says the FATF should consider Russia’s invasion of Ukraine as an impetus to update its standards and country assessment process to address corruption.
May 16, 2023An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.
May 14, 2023COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.
May 9, 2023The guidance calls on regulated financial institutions to bolster their TM systems, highlighting the importance of board of senior management involvement.
April 27, 2023At a meeting in Tokyo last week, officials and the private sector discussed global progress and challenges in regulating virtual assets.
April 20, 2023The Bill provides FIs statutory protection from civil liability in respect of their disclosure of risk information on to COSMIC for the purposes of mitigating ML, TF and PF risks.
March 21, 2023Banks and NBFIs will have to notify the BSP within 24 hours after they become aware of any significant money laundering, terrorism financing, or proliferation financing risk event.
January 6, 2023IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.
December 20, 2022Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
December 15, 2022