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NCA releases podcast which unearths the murky world of serious and organised crime

The first three episodes released will reveal how some of the UK’s most notorious criminals were captured and put behind bars, including drug smuggler, Robert Dawes, prolific paedophile, Matthew Falder, and weapon trafficker, Harry Shilling.

Jersey FSC updates its AML/CFT/CPF Handbook with revised appendices on high-risk countries and territories

This update likely includes changes to the list of jurisdictions considered high risk in terms of ML/TF and other financial crimes, providing financial institutions and stakeholders with current information to strengthen regulatory compliance measures…

FATF publishes follow-up report on the Mutual Evaluation of Finland

Finland has nine Reommendations rated Compliant,  28 rated Largely Compliant, 3 Recommendations rated Partially Compliant and none rated Non-Compliant.

RUSI publishes report on “AML Supervision of the professions in the UK: four key challenges and how to address them”

The report highlights the challenge in regulating diverse professional sectors, inconsistency in AML regulations across different professional domains, limited resources for supervising AML practices within professional sectors and adaptation of technology…

 

 

EY experts provide their insights on the impact of ESG on sustainability-related choices within the insurance sector

The summary includes insights on how organisations can navigate and manage ESG-related risks effectively within the regulatory framework, which involve integrating sustainable practices, disclosure requirements, and compliance strategies…

New guidance on detecting and preventing money mules

The FCA published key findings from its multi-firm review of payment account providers’ systems and controls against money mule activity, outlining examples of good practice, areas for improvement and how firms manage the risks…

APGML publishes report on protecting NPOs from terrorist finance

Provides a detailed regional analysis of implementation of FATF Standards on protecting NPOs from terrorism financing abuse. It includes a heat map
of strengths and weaknesses for each criterion used to evaluate technical compliance with Recommendation 8.

FinCEN proposes new regulation to enhance transparency in convertible virtual currency mixing and combat terrorist financing

Highlights the risks posed by the extensive use of CVC mixing services by a variety of illicit actors throughout the world and proposes a rule to increase transparency around CVC mixing to combat its use by malicious actors including Hamas, Palestinian Islamic Jihad, and the Democratic People’s Republic of Korea (DPRK).

SEC adopts amendments to rules governing beneficial ownership reporting

The amendments accelerate the filing deadlines for initial and amended beneficial ownership reports on Schedules 13D & 13G. The final rules are intended to improve transparency and provide more timely information for shareholders and the market…

SEC division of examinations announces 2024 priorities. AML compliance is one of the top priorities.

SEC’s Division of Examinations announced that its 2024 examination priorities will focus on key risk factors related to information security and operational resiliency, crypto assets and emerging financial technology, regulation systems compliance and integrity, and AML…

World Bank issues report on lessons learned from the First Generation of Money Laundering and Terrorist Financing Risk Assessments

This report aims to guide the policy makers in World Bank client jurisdictions in continuously improving their assessments and understandings of money laundering and terrorist financing risks in their jurisdictions. The report attempts to draw lessons mainly from…

Wolfsberg Group publishes updated Payment Transparency Standards

The challenges associated with payment transparency cannot be resolved solely by payment and compliance specialists within banks, but rather require agreement among all payments stakeholders – including competent authorities, the PMIs within their countries…