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GABAC publishes Mutual Evaluation of the Central African Republic

The evaluation is based on information provided by the country, and information obtained by the evaluation team during the on-site visit to the country that took place from 29 August to 14 September 2022.

HKMA takes disciplinary action against CA Indosuez (Switzerland) SA, HK Branch for contraventions of the AML and CTF ordinance

The control lapses identified in the investigation relate to CAHK’s failure to continuously monitor business relationships with some of its customers by conducting appropriate scrutiny of transactions carried out for them during the period between 11 February 2016 and 2 October 2016.

CFTAF re-rates Suriname on four Recommendations in latest follow-up report

Re-ratings cover PEPs, correspondent banking, tipping off and confidentiality, and CDD.

CFTAF re-rates Turks and Caicos Islands’ on two Recommendations in latest follow-up report

The islands are now rated largely compliant with Recommendation 13, covering correspondent banking, and compliant with Recommendation 28 on DNFBPs.

APGML publishes report on illicit finance generated from illegal fishing

The financial dimensions of illegal fishing pose a complex challenge for law enforcement due to lack of understanding of the transnational nature of this crime;
weak international coordination on illegal proceeds of illegal fishing; and the absence of parallel financial investigations.

AUSTRAC accepts enforceable undertaking from Gold Corporation

Following careful consideration of the audit findings, including the nature and seriousness of the non-compliance and Gold Corporation’s willingness to cooperate and proactively work to comply with its AML/CTF obligations, AUSTRAC has determined that an EU is the most appropriate regulatory response.

GFI examines the nexus between illicit finance and transfer pricing in Uganda

Identifies and discusses the obstacles that hinder the successful implementation of transfer pricing rules in Uganda – a crucial step toward developing targeted solutions.

Guardian/ICIJ investigates offshore services provided by Cyprus

Casinos and schools fill with Russians in the island’s Turkish-occupied north, which offers a sanctions-free life for those seeking to move their money after a clampdown in the south

France imposes restrictive measures upon two Hamas leaders

These measures were taken in accordance with Articles L. 562-2 of the Monetary and Financial Code, which authorizes the freezing of assets and prohibits making funds available to those who engage in certain financial crimes, including the financing of terrorist activities…

Diligencia insights on how to accelerate customer onboarding in the Middle East & Africa

Diligencia recognises that onboarding corporate customers and third parties in the Middle East & Africa (MEA) poses significant challenges, especially for regulated entities offering discretionary services like legal advice or private wealth management…

FATF publishes follow-up report to the Mutual Evaluation of Japan

Japan has made progress in addressing technical compliance deficiencies identified in its MER and has been upgraded on several Recommendations.

FATF issues follow-up report and technical compliance re-rating for Switzerland

Switzerland has made progress in addressing the technical compliance deficiencies identified in the MER with respect to Recommendation 10 and Recommendation 40 and is re-rated to Largely Compliant on both measures.