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Anti-Money Laundering
Revised FATF Standards ‘Clearly Apply’ to Stablecoins
By Editors | 09/07/2020
Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.
Anti-Money Laundering
FATF Highlights Progress to Adopt AML Standards for Virtual Assets
By Manesh Samtani | 08/07/2020
35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.
Anti-Money Laundering
BCBS Updates AML Guidance to Advance Supervisory Cooperation
By Editors | 02/07/2020
Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.
Anti-Money Laundering
New FATF President Presents Objectives For Two-Year Term
By Editors | 01/07/2020
FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.
Anti-Money Laundering
FATF Progresses Key Initiatives at June 2020 Plenary
By Editors | 30/06/2020
The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.
Anti-Money Laundering
FATF Report Addresses ‘Global Threat’ of Illegal Wildlife Trade
By Manesh Samtani | 25/06/2020
The FATF calls for a coordinated response from public authorities, the private sector and civil society to identify and disrupt financial flows from illegal wildlife trade.
Cloud & Infrastructure
APAC Banks Will Come Out Stronger Post Pandemic
By Greg Watson | 23/06/2020
Covid-19 has kickstarted a rush to digitisation. Changes not expected for another 5-10 years will now be seen over the next 18 months, says Fenergo’s Greg Watson.
KYC & CDD
Sri Lanka’s ‘Special Deposit Account’, a Recipe for Disaster
By Duruthu E Chandrasekera | 22/06/2020
A CBSL scheme announced in April to drive inward remittances and investment may risk Sri Lanka falling back into the FATF’s grey list, says Duruthu Chandrasekera.
Anti-Money Laundering
Green Crime: A Global Challenge Requiring a Global Response
By Editors | 17/06/2020
A coherent global response and unifying standards are needed to tackle illegal wildlife trade and environmental crime. Financial institutions have a crucial role to play.
Anti-Money Laundering
Singapore to Tighten AML Rules for Casinos – Report
By Editors | 08/06/2020
Singapore’s legislated threshold for cash transactions that are subject to due diligence is higher than the $3,000 threshold set by the FATF.
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