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Money Laundering & Terrorist Financing

Over 20 years of articles and reference material

A page dedicated to global, regional, UK and US anti-money laundering developments and initiatives.

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IMF releases detailed assessment of AML/CFT in the Côte d’Ivoire

August 23, 2023

Report analyses the level of compliance with the FATF 40 Recommendations and the effectiveness of Côte d’Ivoire’s AML/CFT system and provides recommendations on how the system could be strengthened.

Wolfsberg Group publishes response to FATF Consultation relating to Non-Profit Organisations

August 21, 2023

The Group supports revisions to R.8/INR.8 designed to clarify how best to implement a risk-based approach, as well as addressing the negative impact of the over-application of preventive measures on legitimate NPO activities.

FATF issues follow-up report to Bhutan’s assessment of AML/CFT

August 21, 2023

The country has been re-rated on four recommendations from Partially Compliant to Largely Compliant

HMRC publishes list of businesses found not to be complying with money laundering regulations

August 17, 2023

Report covers Q1 of the 2023 calendar year.

FCA sets out expectations for UK cryptoasset businesses complying with the Travel Rule

August 17, 2023

From 1 September 2023, cryptoasset businesses in the UK will be required to collect, verify and share information about cryptoasset transfers, known as the ‘Travel Rule’.

NCA publishes Annual Plan for 2023/24

August 17, 2023

Outlines the agency’s operation priorities for 2023/24.

NCA releases SARs in Action

August 15, 2023

21st issue covers the SARs Reform Programme, the UAE FIU’s visit to the UKFIU and the role that ‘Professional Enablers’ play in facilitating illicit finance, with analysis from the National Economic Crime Centre (NECC).

Uganda publishes National Risk Assessment of Money Laundering and Terrorist Financing

August 15, 2023

Builds on the foundation of the initial assessment published in 2017; evaluating vulnerabilities within different sectors of the economy, including the Financial Sector, Designated Non-Financial Businesses and Professions (DNFBPs), Other Financial Institutions, and Non-Profit Organisations (NPOs).

FCA invites Politically Exposed Persons to share their experiences

August 15, 2023

FCA is currently reviewing how financial services firms have applied the PEPs regime and whether changes to the guidance are required.

FinCEN Notice highlights concerning increase in payroll tax evasion, workers’ compensation fraud in the construction sector

August 15, 2023

FinCEN shines a light on how illicit actors within the construction industry are using shell companies and other tactics to commit workers’ compensation fraud and avoid payroll taxes…

EBA publishes third report on the functioning of AML and CFT colleges

August 10, 2023

The Report finds that competent authorities had taken important steps to improve the functioning of AML/CFT colleges. Nevertheless, many colleges had not reached full maturity. The Report highlights good practices that will be useful for competent authorities to further improve the effectiveness of AML/CFT colleges and of supervisory outcomes.

OECD issues policy guidance on mitigating the risks of illicit financial flows in oil commodity trading

August 8, 2023

Proposes a set of relevant, feasible actions for providers of official development assistance (ODA) to respond to IFFs in oil commodity trading. The aim is to enhance the mobilisation of domestic resources for the benefit of populations living in oil-producing developing countries, and enable integrity in their energy transition, particularly in carbon trade.

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