Analysis of information received from financial institutions is a core function of financial intelligence units (FIUs), particularly in the asset recovery process according to a new report by the Egmont Group of FIUs. The group facilitates and prompts the global… Read More ›
Traditional forms of control that banks and institutions have on financial flows and services cannot be used to combat emerging money laundering and terrorist financing risks related to virtual assets according to the Council of Europe’s anti-money laundering and counter… Read More ›
The ministers of the Financial Actional Task Force (FATF) at their biennial meeting in Washington last week said they “note with concern” that effectiveness of measures in place to fight money laundering, terrorist financing, and proliferation financing, remains insufficient in… Read More ›
The International Federation of Accountants (IFAC) and the Institute of Chartered Accountants in England and Wales (ICAEW) have produced an instalment on financial crime trends for their Anti-Money Laundering: The Basics educational series. It looks at the trends in criminal activity that underpin… Read More ›
One of the UAE’s most prominent political figures has put his name to an extensive article outlining what appear to be substantial changes to the emirates’ anti-money laundering and counter financing of terrorism (AML/CFT) systems. In 2020 the Financial Action… Read More ›
A new Partnership to Tackle Illicit Financial Flows (PTIFF) has been launched by the UK and the UAE. The partnership will focus on targeting organised crime and those financing terrorism. Strategic aims The PTIFF aims to ensure that the UAE… Read More ›
Art market participants, including freeport operators that store works of art, are likely to become obliged entities in the UK’s key piece of anti-money laundering and counter financing of terrorism (AML/CFT) legislation, the Money Laundering Regulations 2017 (MLRs). The UK… Read More ›
There is a serious need to improve the effectiveness of states’ action against money laundering and terrorist financing according to the Council of Europe’s anti-money laundering and counter financing of terrorism (AML/CFT) body Moneyval in its recently released Annual Report… Read More ›