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OECD releases ninth edition of Tax Policy Reforms

The annual publication “Tax Policy Reforms: OECD and Selected Partner Economies” provides a summary and comparison of tax reforms across countries.

G7 issues its first joint Industry Guidance, aimed at preventing Russia from circumventing export controls and sanctions

This guidance focuses on protecting high-priority items from being misappropriated, minimising reputational risks, and enhancing compliance with coordinated export controls. Key elements include identifying items at risk of diversion, recognising red flags for potential sanctions evasion, and outlining best practices for industries to conduct enhanced due diligence…

 

The 2021- 2023 Best Egmont Group Cases Award (BECA) Book: 24 cases demonstrating various ML/TF schemes, and predicate offenses worldwide

This collection provides valuable insights into the global fight against ML/TF by demonstrating the effectiveness of financial intelligence in tackling criminal activities…

IMF publishes working paper analysing the impact of financial inclusion (FI) on various bank risk dimensions, including systemic risk

Findings reveal that contrary to developed countries, credit expansions are linked to lower commercial banking risks, underscoring the benefits of loan diversification in developing and emerging economies.

 

Egmont Group suspends FIU Colombia’s access to the Egmont Secure Web (ESW) due to an unauthorised disclosure of information

Such events highlight the importance of maintaining a firm position on protecting the security of the information of our members in the ESW. The autonomy and operational independence of FIUs, as well as the principles for data protection and confidentiality, are essential and our collective security and the integrity of information exchange rely on this commitment.

 

 

 

INTERPOL’s Law Enforcement Intellectual Property (IP) Conference focuses on enhancing security in free trade zones and supply chains while developing strategies and partnerships to combat IP crime

This conference addresses 3 key areas notably coordinating responses, aligning resources and leveraging opportunities. This will provide new impetus to our united efforts to tackle this threat, which not only harms public health, but also damages economies, undermining communities…

 

 

OECD and UN announce next steps in collaboration on Artificial Intelligence (AI), a significant step to support globally coordinated AI governance

OECD and the UN will link their efforts to help governments improve the quality and timeliness of their policy response to AI’s opportunities and its risks…

Egmont Group Chair highlights global efforts to combat ML/TF at Latin American Event, stressing the role of FIUs in helping to dismantle the financial networks that support criminal organisations

She stated our collective efforts, which are based on trust and following the principles of FIUs operational independence and autonomy, are essential in disrupting the financial mechanisms of crime and ensuring a safer global financial system…

FATF updates its consolidated assessment ratings – a notable development is the removal of Jamaica and Turkey from the grey list

Jamaica successfully implemented a 13-point action plan addressing deficiencies like preventing misuse of legal entities and improving its AML/CFT measures. Turkey enhanced its supervision of vulnerable sectors like banking and cryptocurrency, leading to its removal from the grey list as well. Additionally, FATF has revised its methodology to strengthen asset recovery and international cooperation standards, requiring countries to prioritize confiscating criminal assets and improving cross-border collaboration​. These should be read in conjunction with the detailed Mutual Evaluation Reports, which are available on this website…

INTERPOL Americas meeting strengthens regional commitment to combat human trafficking, crimes against children, and environmental offenses

INTERPOL Americas Regional Conference ended with a push for stronger collaboration to fight organized crime and related violence. Key recommendations included safeguarding vulnerable groups, combating drug and environmental crimes, and addressing vehicle crime linked to broader criminal activities. Senior officials highlighted the critical role of INTERPOL’s Notices system in tracking down gang members and identifying terrorism…

An INTERPOL-coordinated international operation targeting drug trafficking in Southeast Asia led to the record-breaking seizure of synthetic drugs valued at USD1.05 bn

INTERPOL’s real-time intelligence exchange significantly enhanced the operation’s success, including analysing 291 kilograms of cocaine washed ashore in Vietnam and adding the data to its relief database for tracking future shipments. The relief database offers advanced analysis of drug packaging while Interpol’s secure platform and I-RAID program support systematic drug trafficking data management and combat operations…

Wolfsberg responds to the consultation on FinCEN’s notice of proposed rulemaking (NPRM) for the AML/CFT program rule, emphasising the need for greater flexibility in the risk assessment process

They also call for clearer expectations for AML program effectiveness, particularly for U.S.-based management of these programs. Another critical point is the recommendation to extend the implementation timeline for firms, as they believe the current schedule might be too tight for many institutions to comply effectively…