FATF Guidance on beneficial ownership of legal persons

by | Mar 10, 2023

The guidance will help countries identify, design and implement appropriate measures in line with the revised Recommendation 24 to ensure that beneficial ownership information is held by a public authority or body functioning as a beneficial ownership...

FATF calls for EDD on High-Risk Jurisdictions

by | Feb 24, 2023

For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and, in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from...

FATF summarises outcomes of the 22-24 Feb 2023 Plenary 

by | Feb 24, 2023

FATF members took important steps to enhance the transparency of beneficial ownership and prevent criminals from hiding illicit activity behind opaque corporate structures. FATF agreed on revisions to Rec 25 on transparency and beneficial ownership of...

IIF/Wolfsberg Group EBA De-Risking Letter

by | Feb 8, 2023

The joint comments highlight, inter alia, the importance of alignment with the FATF definition of ‘de-risking’ and that financial institutions should have the ability to apply a risk based approach to non for profit organisations (NPOs) in line with FATF...