A new statistical review has been published to help financial institutions that are increasingly expected to monitor suspicious vessel behaviour in line with regulations to combat sanctions and financial crime compliance evasion. The review based on data obtained by S&P… Read More ›

guidance
Wolfsberg Group publishes guidance for financial institutions to prevent and protect against bribery and corruption
The Wolfsberg Group has published its updated Anti-Bribery and Corruption Compliance Programme Guidance. The association of global banks that develops frameworks and guidance for the management of financial crime risks – particularly with respect to policies for anti-money laundering and… Read More ›
US treasury secretary announces international commitment to enhance beneficial ownership transparency
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 ›
Australia focusing even more on TBML with new multi-agency taskforce
The Australian Federal Police (AFP) is launching a multi-agency taskforce to target criminals who are laundering tens of millions of dollars in Australia every day to bankroll lavish lifestyles and further crime. Taskforce Avarus will target criminal syndicates involved in,… Read More ›
FATF updates guidance on beneficial ownership
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 ›
Wolfsberg Group updates correspondent banking due diligence and financial crime materials
The Wolfsberg Group has released version 1.4 of its correspondent banking due diligence questionnaire (CBDDQ) and version 1.2 of its financial crime compliance questionnaire (FCCQ), along with updated supporting guidance, glossary and FAQs documents. The association of global banks that… Read More ›
International alignment and business considerations should feature in EBA’s de-risking guidance say Wolfsberg and IIF
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 ›
Austrac publishes prevention of TBML guidance targeted at trade finance providers
Australia’s government agency for detecting, deterring and disrupting financial crime has published guidance providing indicators and behaviours to help financial service providers – particularly those engaged in trade financing – to detect and report suspicious financial activity. The guidance by the… Read More ›