A report compiled for finance ministers of the world’s largest economies has taken a strict line on Facebook’s mooted Libra payment system, warning that “significant work” will be needed before any...
Financial institutions are being urged to stem the flow of illicit funds from illegal wildlife trafficking, which drives as much as $23bn in revenue per year and is set to become an area of focus...
Facebook has responded to demands from the U.S. Senate Banking Committee for answers on the regulatory status of its cryptocurrency project Libra, although steered clear of calls to halt the...
On July 5, 2019, the Financial Action Task Force (FATF) published a report on terrorist financing risk assessment guidance. The guidance aims to assist practitioners with assessing and identifying...
The Dutch government has laid out an ambitious programme of reform for its anti-money laundering efforts, with recent high-profile failures nipping at the country’s heels ahead of a major review of...
On June 21, 2019, the Financial Action Task Force (FATF) adopted and issued an Interpretive Note to Recommendation 15 on New Technologies (INR. 15), which clarifies FATF’s previous amendments to...
The Financial Action Task Force (FATF) has published its finalised guidance on virtual currencies, putting the same standards on crypto exchanges and wallets as currently exist for more traditional...
The Financial Stability Board (FSB) has warned of the potential for divergence in international regulation on crypto-assets as the G20 prepares to assess issues ranging from money laundering to...
A two-speed approach to arrest the decline in correspondent banking relationships is emerging, an influential monitoring group warned on Wednesday, with some jurisdictions making leaps in...
Amid continued efforts to combat money laundering in the United States, officials are keeping their crosshairs on the use of shell companies to facilitate financial crimes and urging stricter...
A Spanish money laundering cartel that used virtual currency exchanges to obscure the origins of illicit funds has been busted, Europol announced on Wednesday. The action marks the latest strike...
On May 6-7, 2019, the Financial Action Task Force (FATF) held its annual Private Sector Consultative Forum in Vienna, in which 300 private sector representatives from the financial sector and...
North Korea appears to be stepping up efforts to circumvent sanctions by performing an end-run around the banking sector, instead using cryptocurrency to raise funds and make purchases, researchers...
Pakistan has stepped up its efforts to be scratched off the Financial Action Task Force’s (FATF) list of problem jurisdictions with the high-profile publication of new measures to implement United...
China has come under heavy fire in its latest evaluation by the Financial Action Task Force (FATF), with the world’s second largest economy drawing criticism for its failure to manage terrorist and...
Finland will bolster its anti-money laundering (AML) department and implement a more stringent risk-based approach to supervision following criticism of its measures for combating financial crime.

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