All posts tagged "risk-based approach"
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776AML / KYCDoing What is Right: Financial Inclusion Needs Better Incentives
Tools to enable financial inclusion exist, but without positive incentives to put these into practice barriers will remain, says RUSI's Isabella Chase.
April 3, 2020 -
764AML / KYCFATF Encourages Technology Use to Address Covid-19 Challenges
Criminals and terrorists may seek to exploit gaps and weaknesses in national AML/CFT systems, under the assumption that resources are focused elsewhere, the FATF says.
April 2, 2020 -
417AML / KYCRBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown
Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
March 31, 2020 -
760AML / KYCIt’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 -
1.3KAML / KYCAPG Publishes Final Mutual Evaluation Report for Taiwan
Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.
October 3, 2019 -
1.3KAML / KYCHKMA Grades SVF Sector as ‘Medium Risk’ in Latest AML/CTF Assessment
While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.
July 22, 2019 -
678AML / KYC
FATF Finalises AML/CFT Guidance for Service Providers
New guidance for legal, accounting, and trust and company services professionals highlights the importance of identifying and verifying beneficial ownership information through due diligence.
July 1, 2019 -
1.3KAML / KYCHKMA Sets Out AML/CFT Best Practices for SME Onboarding
A thematic review has concluded that authorised institutions have in general applied the risk-based approach to AML/CFT measures, but there is room for improvement.
June 17, 2019 -
539Hong KongSFC Provides Additional Guidance on Sale of Complex Products
Paragraph 5.5 of the Code of Conduct is only applicable for unsolicited purchases of complex products. Intermediaries can apply a risk-based approach to disclosures for repeat purchases.
June 14, 2019 -
1.6KAML / KYCWolfsberg Group Publishes Guidance on Customer Tax Evasion
Financial institutions should be able to leverage existing financial crime compliance, conduct and tax (including tax transparency regimes) procedures and controls, to address the risks of customer tax evasion.
May 15, 2019
