On May 30, 2023, the Bangko Sentral ng Pilipinas (BSP) issued a memo to remind supervised financial institutions (FIs) of their regulatory obligations to perform strong due diligence measures on designated non-financial business and profession (DNFBP) customers. According to the […]
Launching AI-driven Fraud Detection
As a leading global provider of software and data analytics to the real estate industry, RealPage provides a suite of cloud-based software that helps residential real estate owners and operators manage the tenant lifecycle.
An extensive report into the adequacy of Australia’s anti-money laundering and combating the financing of terrorism (AML/CFT) measures has condemned a delay in expanding the scope of the country’s regulations. The Senate committee report focuses on the failure to expand […]
White collar ‘gatekeepers’ such as accountants, real estate agents and lawyers are helping criminals launder billions of dollars, much of it through the housing market, the Australian Criminal Intelligence Commission (ACIC) has warned. ACIC deputy chief executive Matthew Rippon told a Senate […]
Australian banks and fintechs are backing the closure of major loopholes in the country’s anti-money laundering legislation and have warned that gaps in the current framework impact the country’s international reputation. The Australian Banking Association, the Reserve Bank of Australia, […]
The FATF sets out its guidance for the regulation and supervision of DNFBPs in its 40 Recommendations (specifically Recommendation 24). The guidance requires jurisdictional authorities to take various supervisory steps, including: Implementing licensing requirements and ownership criteria for casinos. Introducing […]