Money laundering and illicit financial flows (IFFs) are amongst several concerns raised by petitioners who have triggered a five-judge bench of the Sri Lankan Supreme Court to examine several petitions filed against the US$1.4 billion China-funded Colombo Port City Commission… Read More ›
The UK’s Financial Conduct Authority (FCA) has announced that it has commenced criminal proceedings against National Westminster Bank Plc (NatWest) in respect of offences under money laundering regulations enacted in 2007. This is the first criminal prosecution under the act… Read More ›
Customs services play the role of sentinels for illicit trade activity according to the recently published report by the Financial Action Task Force (FATF) in collaboration with Egmont Group to help the public and private sector with the challenges of… Read More ›
All of the inhabited UK Overseas Territories have committed to adopt publicly accessible registers of company beneficial ownership. Just a few months ago only eight of the country’s fourteen overseas territories had agreed to UK government requests to establish publicly… Read More ›
Banks can help organisations intent on preserving the earth’s fisheries, forests, wildlife and other natural resources by employing the increasingly sophisticated technologies used to monitor correspondent relationships or their trade finance operations according to the compliance lead at FICO, the… Read More ›
A specific focus on trade-based terrorist financing (TBTF) features in the new report released by the Financial Action Task Force (FATF) in collaboration with the Egmont Group to help the public and private sector with the challenges of detecting trade-based… Read More ›
A US congressional commission has called on the authorities to radically reform anti-money laundering (AML) operations by blocking the flow of illicit funds using complex cross-border financial transactions and cryptocurrencies. The commission is specifically concerned about black-market peso exchange trade-based… Read More ›
Vigilance amongst competent authorities, private sector institutions, and other participants in global supply chains is called for in a landmark new report on trade-based money laundering (TBML) published by the Financial Action Task Force (FATF). Produced in collaboration with the… Read More ›