Correspondent banking arrangements can be manipulated to disguise the movement of funds for terrorist financing purposes according to the International Monetary Fund’s (IMF’s) recently published book on counter terrorism financing frameworks (Trade-based Financial Crime, 15 May 2023). But Countering the… Read More ›
Representatives of civil society, media and academia from across the Europe and beyond are lobbying European Union (EU) legislators to restore the right of individuals holding a legitimate interest to access Europe’s ultimate beneficial ownership (UBO) registers. Such individuals include… Read More ›
Art market experts have responded to the recently published Financial Action Task Force (FATF) report on money laundering and terrorist financing in the art and antiquities market (Trade-based Financial Crime, 1 March 2023). The report has been generally well received… Read More ›
The American Bankers Association (ABA) is urging the Financial Crimes Enforcement Network (FinCEN) to make changes to the form that entities will use to report beneficial ownership information to the registry that FinCEN is creating to store this information. Financial… Read More ›
The US is continuing its blitz of sanctions on third-country entities that Washington believes are helping sanctioned entities to continue doing business in global markets. The latest sanctioning of 39 entities in Hong Kong, Singapore, Turkey and the UAE relate… Read More ›
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 ›
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 ›
Financial institutions have so far not been provided the relief from the burdens of onboarding and customer due diligence they had hoped for as a result of the final version of the beneficial ownership rule issued in September by the… Read More ›