The JFSC have published updated versions of Appendices D1 and D2 of the AML/CFT Handbook, to take into account the latest Financial Action Task Force (FATF) statements. You can view the updated appendices by visiting the AML/CFT Handbook page of the JFSC  website here https://www.jerseyfsc.org/anti-money-laundering/regulated-financial-services-businesses/amlcft-handbook/

ISLAMABAD: The purpose of Asia Pacific Group (APG) deliberation with Pakistan was to gauge the country’s compliance on key Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework. In a statement issued here, Ministry of Finance stated that Pakistan is passing through two separate processes one is FATF Action Plan and another is regular […]

Hot on the heels of the of the HKMA’s actions against Shanghai’s Commercial Bank in mid-August as well as Hong Kong’s ML/TF Risk Assessment in April The Securities and Futures Commission (“SFC”) issued a robust circular on 31 August 2018 about the adequacy of LICENSED CORPORATIONS’ (“LCS”) Anti-Money Laundering, and Counter Financing of Terrorism (“AML/CFT”) […]

HM Treasury has published an updated advisory notice regarding risks posed by unsatisfactory anti-money laundering and terrorist financing (AML/CTF) controls. The notice is issued in connection with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) (see daily news 26 June 2017), which require firms to put policies […]

The Governor and Company of the Bank of Ireland agrees monetary penalty of €3,150,000 for AML/CFT compliance failures Peter Oakes | 30 May 2017 https://www.linkedin.com/pulse/governor-company-bank-ireland-agrees-monetary-penalty-peter-oakes Read more…

The UK government will set up a new regulator to shut down legal loopholes used by criminals and terrorists to launder money in the UK. Called the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), the watchdog will launch next year. It will enforce updated money laundering rules and coordinate with other bodies and supervisors […]

Switzerland’s anti-money laundering and counter-terrorist financing regime is technically robust and has achieved good results, but it would benefit from some improvements to be fully effective. This assessment reviews both the level of effectiveness of Switzerland’s AML/CFT regime as well as its level of technical compliance with the FATF Recommendations.  Read more  Download the full […]

The Government of the British Virgin Islands has today announced that the independent regulator, the Financial Services Commission (FSC), has issued an enforcement action against Mossack Fonseca & Co (B.V.I) Limited that sees the firm fined $440,000 for its contravention of numerous sections of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI […]