Financial Action Task Force

KYC & CDD

FATF Should Recognise ‘Alternative Measures’ to Promote Inclusion

By Manesh Samtani | 09/12/2024

The Wolfsberg Group says the FATF standards should explicitly recognise and encourage “alternative measures” such as limited-purpose account types and tailored monitoring.

Anti-Money Laundering

Basel Institute on Governance Publishes 2024 Basel AML Index

By Manesh Samtani | 04/12/2024

In Asia, New Zealand, Australia, Taiwan, Brunei, and South Korea scored the best while Myanmar, Lao PDR, China, Vietnam, and Cambodia scored the worst

Anti-Money Laundering

Australian Parliament Passes Historic AML/CTF Amendment Bill

By Thisanka Siripala | 29/11/2024

The bill extends AML/CTF obligations to lawyers, accountants, TCSPs, real estate professionals, and dealers in precious metals and stones.

Anti-Money Laundering

Wolfsberg Group Defines Key Terms Related to Digital Assets

By Manesh Samtani | 27/11/2024

The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

PEPs & Sanctions

Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say

By Editors | 27/11/2024

US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.

Anti-Money Laundering

Eurojust Establishes Judicial Focus Group to Combat Money Laundering

By Mark Johnston | 26/11/2024

Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.

Anti-Money Laundering

Australia’s AGD Issues Supplementary Submission on AML Amendment Bill

By Thisanka Siripala | 13/11/2024

The AGD responds to issues raised in submissions to the Senate Legal and Constitutional Affairs Legislation Committee on certain aspects of the Bill.

Anti-Money Laundering

Vietnam: SBV to Establish New Anti-Money Laundering Department

By Editors | 12/11/2024

The new department is part of amendments to the functions, missions, authority and organisational structure of the State Bank of Vietnam.

Anti-Money Laundering

FATF Publishes Guidance on Conducting National Risk Assessments

By Editors | 08/11/2024

The guidance identifies prerequisites for a successful NRA and offers a structured approach for analysing money laundering threats, vulnerabilities, and risks.