Our extensive knowledge at your fingertips

Latest editions

Search

EAG assesses the Kyrgyz Republic’s progress in strengthening measures to tackle money laundering and terrorist financing

Finds that the Kyrgyz Republic has made significant progress in rectifying the technical compliance shortcomings identified in the MER, with re-rating occurring on several recommendations≥

Conflict Armament Research publishes report on Islamic State activities in north-east Syria during 2021-22

In this report, CAR investigates the weapons used in three attacks targeting detention centres housing IS prisoners and suspected affiliates, showing how common links between the materiel used by the different cells shows that they were closely linked and supported by a centralised distribution network that equips top-tier members for specific, high-profile, operations.

HKMA consults on proposal for information sharing among authorized Institutions to aid in prevention or detection of crime

HKMA invites views from the banking sector and members of the public on its proposal to facilitate AI-to-AI information sharing, including legislative amendments to provide legal protection to AIs and safeguards to protect data privacy and customer confidentiality. The proposed arrangement is in line with similar developments in other international financial centres.

HKMA insight on how banks can contribute more to the fight against fraud and money laundering

HKMA’s new proposal facilitates bank collaboration in fighting digital fraud by legally enabling the sharing of suspicious activity data, with a focus on privacy. Open for public consultation, this initiative aims to bolster early fraud detection through secure data exchange, responding to the increasing digital financial crime threat…

EU sanctions six companies accused of ‘undermining stability’ in Sudan

The EU imposed sanctions on six companies responsible for trying to undermine stability in conflict-ravaged Sudan, largely targeting firms linked to weapons procurement and manufacturing. Sudan plunged into chaos last April when long-simmering tensions between the military, led by Gen. Abdel Fattah Burhan, and the Rapid Support Forces paramilitary…

FINTRAC issues special bulletin on laundering the proceeds of crime through online gambling sites

Provides background and updated information on online gambling intended to support reporting entities in Canada, especially those involved in online gambling, as well as banks and money services businesses, including payment service providers.

FINTRAC imposes an administrative monetary penalty on Global West Realty Limited, a real estate broker in Mississauga, Ontario

Global West Realty Limited was found to have failed to:
ensure that an appointed person be responsible for implementing a compliance program;
develop and apply written compliance policies and procedures;
assess and document money laundering or terrorist activity financing risks;
develop and maintain a written ongoing compliance training program; and
institute and document the prescribed review of its policies and procedures, risk assessment and training program.

FATF examines Jamaica’s progress in tackling AML/CTF in the 6th follow-up report to most recent Mutual Evaluation

The country is re-rated on Recommendations 22, 23 and 28 (partially compliant to largely compliant) and Recommendation 24 (partially compliant to compliant).

FATF/GAFILAT mutual evaluation highlights that Brazil has a deep understanding of ML risks, in particular for ML arising from corruption, organised crime, tax crime, drug trafficking, and environmental crimes

Despite progress since the last evaluation in 2010, key challenges remain, including the need for enhanced cooperation and coordination among authorities, particularly the Police, Prosecution Authority, and Tax Office.

MENAFATF publishes outcome of the Mutual Evaluation of Lebanon

Lebanon scored acceptable results on technical compliance in thirty four recommendations out of the FATF forty recommendations whereby “Compliant” or “Largely Compliant” ratings were achieved. In the six other recommendations where improvements are needed, Lebanon received “Partially-Compliant” ratings, thus necessitating some legislative amendments.

China sanctions five US arms manufacturers over Taiwan weapons sales

The countermeasures consist of freezing the properties of those companies in China, including their movable and immovable property, and prohibiting organisations and individuals in China from transactions and cooperation with them. The US arms sales to China’s Taiwan region, seriously harm China’s sovereignty and security interests…

HKMA and FSTB propose stablecoin regulatory regime and introduce sandbox arrangement

The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) in Hong Kong are consulting on a legislative proposal to regulate fiat-referenced stablecoin issuers, incorporating a licensing regime and a sandbox arrangement to manage risks and align with international standards in the Web3 and virtual asset ecosystem…