The FATF's responsibilities and the efficiency and effectiveness of its evaluation process must be reassessed, says RUSI’s Tom Keatinge.
October 28, 2019Taiwan 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, 2019While 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, 2019New 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, 2019A 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, 2019Paragraph 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, 2019Financial 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, 2019If the FATF Interpretive Note is adopted, virtual assets and their service providers could fall under the same level of regulatory scrutiny as seen in traditional banking, says ComplyAdvantage.
February 28, 2019The FATF is consulting on draft guidance on the application of a risk-based approach to AML/CFT in the legal, accountancy, and trust and company service providers sectors.
February 27, 2019MAS places emphasis on conduct and individual accountability in its supervisory approach, using data analytics to help identify unusual trends and flag outliers among fund managers.
February 19, 2019