One of the key announcements from the Financial Action Task Force’s March Plenary was its confirmation of changes to Recommendation 24 and its Interpretive Note relating to beneficial ownership standards. The new standards require countries to ensure that competent authorities […]
President Biden has issued a long-awaited Executive Order (EO) detailing broad plans to create a framework for the regulation of cryptoassets in the US. The EO represents the US’ first whole-of-government approach to addressing the risks and harnessing the potential […]
The Financial Action Task Force (FATF), has held its latest plenary in Paris – attended by representatives of its 206 global members, the IMF, UN and World Bank – and has proposed new measures to make the fight against illicit […]
For many early-stage, fast-growing fintechs, implementing anti-money laundering compliance tools and processes can be a challenge. This guide is designed to provide startups with practical tips to enable them to build a compliance function that can scale with their businesses.
A raft of new measures to tackle dirty money and improve transparency related to company and property ownership are being expedited by the UK government following Russia’s invasion of Ukraine. The Economic Crime (Transparency and Enforcement) Bill — a key […]
The Australian Transaction Reports and Analysis Center (AUSTRAC) has issued new guidance aimed at helping firms identify and verify sources of funds and wealth, as part of their know your customer (KYC) processes. The draft guidance follows the regulator’s recent […]
In 2021 ComplyAdvantage surveyed compliance leaders globally to build an assessment of the state of financial crime in the year ahead. One of the key questions we asked in the survey was: How has the number of suspicious activity reports […]
The European Banking Authority (EBA) has launched a central database for anti-money laundering and countering the financing of terrorism (AML/CFT), which it hopes will act as an “early warning tool” across the European Union. The European reporting system for material […]
This annual report, based on a global survey of 800 compliance professionals across North America, Europe and Asia Pacific explores some of the biggest financial crime challenges firms are facing.
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new measures to allow banks to share suspicious activity reports (SARs) more easily with foreign branches, subsidiaries and affiliates. In a Notice of Proposed Rulemaking (NPRM) FinCEN has asked for […]
Banks in Australia have been praised by the Australian Transaction Reports and Analysis Centre (AUSTRAC) for improving their compliance programs to more effectively tackle money laundering, organized crime, tax evasion, and welfare fraud. AUSTRAC said that it is now better […]
Following a review of its AML/CFT framework, the European Union is preparing to introduce a suite of new regulations that will have significant implications for firms operating in, or doing business with, EU countries.
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