All Financial Action Task Force articles
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News BriefFATF’s AML/CFT watchlist adds Bulgaria, drops 4 others
Bulgaria is the latest country to be identified by the Financial Action Task Force as a jurisdiction under increased monitoring for money laundering and terrorist and proliferation financing.
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News BriefUAE approves plan to establish AML prosecutor
The United Arab Emirates has moved forward with plans to establish federal prosecution entities specializing in economic crimes and money laundering.
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News BriefFATF flags Cameroon, Croatia, Vietnam on AML/CFT watchlist
The Financial Action Task Force added Cameroon, Croatia, and Vietnam as part of the latest updates to its so-called “grey list” of jurisdictions under increased monitoring for money laundering and terrorist and proliferation financing.
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News BriefSouth Africa, Nigeria added to FATF’s AML/CFT watchlist
The Financial Action Task Force placed Nigeria and South Africa on its list of countries requiring increased monitoring because of deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing.
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ArticleSouth Africa edges toward FATF watchlist
South Africa could be designated by the Financial Action Task Force as a jurisdiction with anti-money laundering/countering the financing of terrorism risks subject to increased monitoring should a November review not meet the organization’s standards.
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ArticleFATF classifies Myanmar as high risk for money laundering, terrorist financing
The Financial Action Task Force designated Myanmar as a high-risk jurisdiction with “significant strategic deficiencies” regarding its anti-money laundering, countering the financing of terrorism, and financing of proliferation prevention efforts.
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ArticleFATF adds Gibraltar to AML/CFT watchlist; Malta removed
The Financial Action Task Force added Gibraltar to its list of jurisdictions working with the organization to improve the countering of money laundering, terrorist financing, and proliferation financing within their borders.
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ArticleWhy beneficial ownership is crucial in supporting current sanctions
To ensure Russian money is controlled, and for sanctions to work, it is imperative the beneficial owners of sanctioned firms are identified. But determining beneficial owners is not always straightforward.
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ArticleFATF adds United Arab Emirates to AML/CFT watchlist
The Financial Action Task Force added the United Arab Emirates to its “grey list” of countries subject to increased monitoring due to deficiencies in fighting financial crime.
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ArticleFATF adds Turkey to AML/CFT watchlist
The Financial Action Task Force has added three new jurisdictions, including Turkey, to its list focused on areas subject to increased monitoring for deficiencies in fighting financial crime.
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ArticleFATF urges Japan to enhance AML/CFT measures
Japanese authorities have a good understanding of money laundering and terrorism financing risks, but certain areas of their AML/CFT framework could be further improved, according to a Financial Action Task Force evaluation report.
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ArticleFATF adds four jurisdictions to AML/CFT watchlist
The Financial Action Task Force added Haiti, Malta, the Philippines, and South Sudan to its “grey list” focused on areas subject to increased monitoring for deficiencies in fighting financial crime.
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Article
Binance tabs former FATF execs as compliance advisors
Cryptocurrency exchange Binance announced the appointment of former Financial Action Task Force executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors.
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ArticleCryptocurrency’s future: What compliance needs to know
Cryptocurrency is complicated, but it’s not going away anytime soon. David Povey of the ICA takes a look at what regulators are trying to do and offers tips on where compliance officers can go to study this complex topic further.
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ArticleWorking together to stop money laundering: A conversation with Marcus Pleyer
Dr. Marcus Pleyer, president of the Financial Action Task Force, emphasized his commitment to stopping money laundering in a wide-ranging and forward-looking discussion at the ICA’s BIG Compliance Festival.
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ArticleBasel Committee issues final AML risk management guidance
The Basel Committee on Banking Supervision recently issued an updated version of its guidelines on sound management of risks related to anti-money laundering and combating the financing of terrorism.
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ArticleAnalysis: Learning to learn from our mistakes with AML
Scientists and doctors cannot succeed or make medical breakthroughs without being prepared to fail. The same approach should be taken to combating anti-money laundering, writes financial crime expert Martin Woods.
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ArticleAnalysis: Path to effective AML is doing less with more
The answer to being more effective at stopping money launderers is to challenge the value of processes that are clearly failing. Financial crime expert Martin Woods explains.
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ArticleFINMA publishes AML guidance on blockchain
The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.