US treasury secretary, Janet Yellen, said on Tuesday that she was launching a commitment by Washington and more than twenty foreign governments and authorities to enhance beneficial ownership transparency. Speaking at the Biden-Harris Administration’s second Summit for Democracy, she said the… Read More ›
The Financial Action Task Force (FATF) has published its updated guidance paper outlining tougher global beneficial ownership rules aimed at preventing criminals from hiding their illicit activities and money behind secret corporate structures. Beneficial Ownership of Legal Persons (Recommendation 24)… Read More ›
The Financial Action Task Force (FATF) has published a new report that includes a list of risk indicators to help entities identify suspicious activities in the art and antiquities markets, and outlines good practices that countries have taken to address… Read More ›
The Financial Action Task Force (FATF) has placed Nigeria and South Africa on its list of countries under increased monitoring, commonly known as the grey list, after they failed to address strategic deficiencies in their regimes to counter money laundering,… Read More ›
The members of the Financial Action Task Force (FATF) have agreed to suspend Russia’s membership of the global financial crime watchdog. They say Russia’s continuing and intensifying war of aggression against Ukraine runs counter to the FATF’s principles of promoting… Read More ›
Ukraine has once more appealed to Financial Action Task Force (FATF) member states to expel Russia from the global financial crime watchdog and include it on its list of high-risk jurisdictions, often referred to as the black list. The appeal… Read More ›
The Wolfsberg Group, the association of global banks that aims to develop frameworks and guidance for the management of financial crime risks, and the Institute of International Finance (IIF), the global association of the financial industry, have submitted joint comments… Read More ›
The financial community, led by the Financial Action Task Force (FATF), should show the same degree of commitment to preventing environmental and ecological damage to the oceans as it does to the charismatic species on land according to researchers at… Read More ›