Following the publication by the Financial Action Task Force’s statements identifying jurisdictions with strategic deficiencies in their anti-money laundering and counter-terrorist financing regimes HM Treasury has now published an advisory notice for firms to: consider certain jurisdictions (listed in the advisory notice) as de facto high risk for the purposes of the Money Laundering Regulations […]

The Financial Action Task Force said Friday that it issued guidance on how countries and the private sector should handle the money-laundering risks associated with prepaid cards, mobile payments and digital currencies. The document examines how these payment products and services work, and how to regulate and supervise their use, the FATF said. When preparing […]

The Syria (European Union Financial Sanctions) (Amendment) Regulations 2013 (SI 2013 No. 877) (2013 Regulations) will come into force on 7 May 2013. The 2013 Regulations amend the Syria (European Union Financial Sanctions) Regulations 2012 (SI 2012 No. 877) which provide for enforcement of, and penalties for breaches of, EU financial sanctions in relation to […]

 The European Union has suspended sanctions against 81 Zimbabwe officials and eight Zimbabwe firms. This follows the country’s “peaceful successful and credible referendum on a new constitution” earlier this month. President Robert Mugabe and a few others including Zimbabwe Mining Development Corporation remain blacklisted until “peaceful, transparent and credible elections have been achieved” said an EU […]

 HM Treasury has updated  Financial Sanctions Notice: Iran (Human Rights): Council Implementing Regulation (EU) No 206/2013. The amendments to Annex 1 to the Regulation take the form of the addition of 9 individuals and 1 entity; these additions are therefore subject to the asset freeze imposed by the regulation. HM Treasury have also published an updated […]

 The Financial Action Task Force (FATF) has  published a National Money Laundering and Terrorist Financing Risk Assessment. The guidance is intended to assist countries conduct risk assessments at a country or national level. The principles described in this guidance are also relevant to more focussed risk assessments, for example of a particular financial sector.  The guidance […]

 HM Treasury has published a revised financial sector advisory notice on money laundering and terrorist financing controls in overseas jurisdictions. The notice contains advice issued by the Treasury about risks posed by unsatisfactory anti-money laundering and counter-terrorist financing controls in a number of overseas jurisdictions. The main changes from the last notice issued by HMT […]

 The Basel AML Index is a composite country risk ranking developed by the Basel Institute on Governance and its expert team from the International Centre for Asset Recovery (ICAR). The purpose of the Basel AML Index is to analyze countries risk regarding money laundering / terrorism financing, and other related factors such as corruption and […]