Our extensive knowledge at your fingertips

Over 20 years of articles and reference material

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

Browse the resource database or make a sub-selection:

Latest editions

Search

FinCEN finalises rule on the use of FinCEN identifiers in beneficial ownership information reporting

The rules responds to concerns that incumbent identifiers did not obscure the identities of beneficial owners in a more transparent manner and the need for more clear criteria.

 

FATF consults on its risk-based guidance to Rec.25 on beneficial ownership and transparency of legal arrangement

FATF is seeking input on its guidance from companies and other legal persons, FIs, DNFBPs, and non-profit organisations by 8 Dec 2023. The FATF Plenary held in Oct 2023 agreed to release the revised guidance for public consultation and expects to finalise this work at its Feb 2024 Plenary…

RUSI discuss Hamas financing in new podcast series focusing on STRs

Host Stephen Reimer unpacks the key issues and debunks some common myths at the heart of the Hamas financing story with Jessica Davis of Insight Threat Intelligence and Matthew Levitt of The Washington Institute for Near East Policy.

 

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.

AUSTRAC provides briefing on virtual kidnappings

Virtual kidnappings are a form of technology-enabled scam that involves scammers: often impersonating a Chinese military or government official; convincing victims they have been implicated in a crime; demanding large payments from victims under the threat of being deported or arrested.

Home Office and Singapore secure an agreement on ransomware payments 

Led by the UK and Singapore, members of the CRI affirmed that relevant funds from central government should not be used to pay a ransomware attacker – the first international statement of its kind.

AML Rightsource unveils nine best practices for a successful compliance system implementation

A compliance department’s function is integral for safe business and legally mandated. As such, any legacy system change, even if necessary, is met with extreme caution and trepidation…

AML Rightsource insights on ‘Improving efficiency and your financial crimes program’

The article highlights the key points: improving data quality, fully use the systems you have in place, adding technology and advanced analytics, automate the SAR filing process…

JJCFinTech’s industry perspective on ‘Effective Client Lifecycle Management – A Case for Change’

Many Financial services firms have invested $billions in meeting their Anti-Financial Crime and Client Lifecycle Management regulations. Despite all the investment, this is still rated as the most dysfunctional, highly penalised and operationally frustrating processes…

FCA publishes progress update on its work on synthetic data, creating a collaborative framework between the public and private sector

The Synthetic Data Expert Group plans to run until Nov 2024 and aims to provide practical and tangible synthetic data insights for practitioners and policymakers. It will explore the use of such data across several use cases including fraud detection & controls, credit scoring, AML, and open banking…

 

FATF adds 3 countries to its “Black List” and 23 countries to its “Grey List”

FATF has added Democratic People’s Republic of Korea, Iran and Myanmar to its black list and moved Bulgaria, UAE, Croatia, South Africa, Turkey among others to it grey list. 129 countries and jurisdictions were reviewed…