The International Monetary Fund (IMF) is urging Uganda to step up its efforts to be removed from the Financial Action Task Force (FATF) grey list of jurisdictions under increased monitoring. The IMF is concerned about measures yet to be taken… Read More ›
The Financial Action Task Force (FATF) has issued a warning about scams in which its own name is being used for fraudulent purposes. The scams are aimed at those wishing to make international transfers of funds who are allegedly asked… Read More ›
The UK and its dependant territories, the Netherlands, Luxembourg and Switzerland, are together responsible for 50 per cent of global corporate tax losses according to a new report by the Tax Justice Network (TJN). The State of Tax Justice 2023… Read More ›
Sri Lanka’s customs department is entering into partnerships with counterparts in other countries in its bid to curb trade based money laundering (TBML). The department is also seeking international assistance and cooperation to crackdown on gold smuggling, which has increased… Read More ›
Trade-based money laundering (TBML) has over recent years become a commonly used method to launder money in Uganda according to a new policy memo published by Washington-based Global Financial Integrity (GFI) and Uganda-based public policy research and advocacy think tank, Advocates… Read More ›
The Hong Kong Association of Banks (HKAB), Hong Kong Monetary Authority (HKMA), and Hong Kong Police Force (HKPF) have launched the Financial Intelligence Evaluation Sharing Tool (FINEST), a bank-to-bank information sharing platform. The initiative aims to help increase banks’ ability… Read More ›
Natural resource management in Southern Africa is faced with weak governance structure and poor institutional and legislation frameworks according to a new report published by the African Development Bank (AfDB). The Southern Africa Economic Outlook 2023 says that as a… Read More ›
Mongolia has passed all 40 recommendations set by the Financial Action Task Force (FATF), making the country the first in the Asia Pacific region, and the fifth country in the world to achieve this level of compliance, according to minister of justice and home affairs,… Read More ›