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Money Laundering & Terrorist Financing

Other Regions

This section covers AML/CTF  initiatives by organisations from Africa & Middle East, Asia & Pacific, Latin America & Caribbean and other regions and jurisdictions such as Australia.

African Development Bank updates
Asia-Pacific Economic Cooperation
Asia-Pacific Group on ML
Australian Transactions Report and Analysis Centre (AUSTRAC)
Caribbean FATF
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
Eastern and South Africa AML Group
Eurasian Group
South, Central and North America AML/CTF Group
Inter Governmental Action Group Against ML in West Africa
Middle East and North African FATF 

And many more..

 

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PwC survey shows three quarters of financial services companies are still conducting AML checks entirely manually

December 13, 2023

It was found that more automation could be used by the Irish financial services industry to “strengthen the fight against financial crime”. A survey of 61 financial services firms carried out by PwC, found that 75% rely on manual financial crime risk assessments and just 3% use a fully automated process…

 

Isle of Man Financial Services Authority publishes updated version of AML/CFT Handbook

December 13, 2023

The amendments reflect the findings of recent thematic reviews, with a focus on key areas such as Business Risk Assessments (BRA) and Source of Wealth requirements for Politically Exposed Persons (PEPs)…

 

Isle of Man releases its latest Financial Crime Strategy report

December 10, 2023

The report outlines the Island’s current standing and recent policy developments, as well as addressing the constantly evolving threats faced by governments worldwide. The report reaffirms its commitment to combatting money laundering, terrorist financing and financing…

Monetary Authority of Singapore consults on regulations for FI-FI information sharing in relation to AML/CFT

December 6, 2023

The new electronic information sharing system named Collaborative Sharing of ML/TF Information & Cases(COSMIC) will enhance information exchange between the prescribed FIs to more effectively deter and disrupt criminal activities.

GABAC publishes Mutual Evaluation of the Central African Republic

November 30, 2023

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

November 29, 2023

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

November 29, 2023

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

November 29, 2023

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

November 28, 2023

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

November 23, 2023

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

November 22, 2023

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

November 14, 2023

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

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