Financial Action Task Force

Cryptocurrency

IOSCO Chair Calls for Coordinated Response to Crypto Challenges

By Ranamita Chakraborty | 04/12/2023

Jean-Paul Servais and Tuang Lee Lim from IOSCO highlight the need for standardised guidelines for crypto, digital assets and sustainability.

Anti-Money Laundering

EBA Consults on Travel Rule Guidelines for Funds and Crypto Transfers

By Mark Johnston | 27/11/2023

The EBA plans new guidelines to prevent the misuse of funds and crypto-assets transfers for illicit purposes, aligning with FATF standards.

Anti-Money Laundering

Basel Institute on Governance “Cautiously Optimistic” Regarding Crypto Risks

By Mark Johnston | 23/11/2023

Criminal funds flowing through blockchains are “decreasing constantly” as a proportion of total value. Regulations in the world’s financial centres are becoming stronger.

Anti-Money Laundering

FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes

By Manesh Samtani | 23/11/2023

The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.

Anti-Money Laundering

FATF Revises Standards to Improve Asset Recovery Outcomes

By Manesh Samtani | 19/11/2023

FATF has revised its Recommendations and published a new report to promote the use of Asset Recovery Inter-Agency Networks, or ARINs.

Anti-Money Laundering

FATF Updates Standards to Address Adverse Outcomes Facing NPOs

By Editors | 17/11/2023

The FATF adopted amendments to Recommendation 8 and its Interpretive Note and updated its best practices paper on combatting TF abuse of NPOs.

Anti-Money Laundering

Basel AML Index: AML/CFT Systems Have Become Less Effective

By Editors | 14/11/2023

The 2023 Basel AML Index highlights a drop in the effectiveness of AML/CFT systems and inadequate compliance globally with the FATF standards for virtual assets.

Anti-Money Laundering

Myanmar Receives Rating Upgrade for FATF Recommendation 14

By Editors | 13/11/2023

Myanmar made “minimal progress” but was re-rated on Recommendation 14 for its revised regulations for remittance businesses.

PEPs & Sanctions

Cambodia Receives Rating Upgrade for FATF Recommendation 7

By Editors | 13/11/2023

Cambodia’s rating was upgraded due to a law that implements targeted financial sanctions for WMD proliferation and financing.