Paris has officially announced its bid to host the new European Anti-Money Laundering Authority (AMLA) and its staff. The French capital is already home to the Financial Action Task Force (FATF) and the European Banking Authority (EBA), and the city’s… Read More ›
The decision of the European Union Court of Justice (ECJ) that beneficial owners of registered companies can remain anonymous to the general public may hinder the ability of financial institutions seeking to quickly and easily obtain beneficial ownership in the… Read More ›
Financial institutions in Singapore have been advised by the country’s regulator that they should continue to refer to the Financial Action Task Force (FATF) statement of February 2020 in respect of the Democratic People’s Republic of Korea (DPRK) and Iran… Read More ›
Democratic Republic of the Congo (DRC), Mozambique and Tanzania have been put on the Financial Action Task Force (FATF) ‘grey list’ of jurisdictions under increased monitoring it was announced at the end of the global financial watchdog’s plenary meetings in… Read More ›
Pakistan and Nicaragua have been removed from the Financial Action Task Force (FATF) ‘grey list’ of jurisdictions under increased monitoring according to a statement issued at the end of the global financial watchdog’s plenary meetings in Paris last week. Pakistan,… Read More ›
Australia’s government agency for detecting, deterring and disrupting financial crime has published guidance to help reporting entities undertake source of funds and source of wealth checks and mitigate the risk that a customer’s funds relate to money laundering, terrorism financing (ML/TF)… Read More ›
The European Banking Authority (EBA) has published a new report that calls for more proactive engagement between supervisors in anti-money laundering and counter financing of terrorism financing (AML/CFT) colleges. This is the authority’s second report on the functioning of AML/CFT… Read More ›
Danske Bank has been fined €1.82 million (US$1.79 million) and reprimanded by the Central Bank of Ireland (CBI) for three transaction monitoring failures in its anti-money laundering and counter financing of terrorism (AML/CFT) systems. The three breaches of Ireland’s criminal… Read More ›