South Africa has been given 18 months by the Financial Action Task Force (FATF) to improve its capacity to track and prosecute money laundering and terrorist financing or face being including on the so-called FATF grey-list. The Mutual Evaluation Report… Read More ›
International efforts to monitor flows of cash into Afghanistan following its takeover by the Taliban are underway as the new Afghan government must search for financial lifelines now that international funds are cut off. What role trade-based financial crime will play… Read More ›
No evidence of under-invoicing in favour of the importer of MG cars into Pakistan has been found by the country’s Federal Bureau of Revenue (FBR) after its six month investigation into the importer and the vehicles’ Chinese manufacturer. Originally one… Read More ›
Financial institutions, businesses and individuals that do not exit supply chains, ventures and investments connected to the Chinese province of Xinjiang could run a high risk of violating US law according to an updated business advisory published by several US… Read More ›
A report on trade-based money laundering (TBML), regulations regarding anti-money laundering and counter financing of terrorism (AML/CFT) requirements for the antiquities trade and a study on money laundering and the art trade are amongst 22 reports, regulations or studies to… Read More ›
China’s central bank has published revised draft legislation in its efforts to bring its anti-money laundering and counter financing of terrorism (AML/CFT) regulations up to international standards. As well as financial institutions, the proposed legislation would cover the activities of… Read More ›
Italian police have broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China according to the Reuters news agency. The report follows… Read More ›
Serious concerns linger over the new Colombo Port City Law passed by the Sri Lanka parliament at the end of last month. Transparency International Sri Lanka (TISL) was one of the petitioners that had challenged the new law. One of… Read More ›