Paris, 18 July 2018 -While corporate vehicles, such as companies, foundations, partnerships, and other types of legal persons and arrangements are important for supporting commercial and entrepreneurial activity, they can also be misused to conceal the ownership and control of illicitly gained assets. A new joint FATF-Egmont Group report assesses the vulnerabilities linked to the […]

The international community’s anti-money laundering watchdog is on UK soil putting the country through its paces specialist Anti-Money Laundering and Big Data firm Fortytwo Data can reveal.   Inspections of Britain’s defences against terrorists and money launderers by the Financial Action Task Force (FATF) are relatively rare but hugely important. The last evaluation was in […]

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 […]

At its recent plenary meeting in Valencia, the Financial Action Task Force issued a public statement on high-risk and non-cooperative jurisdictions: Public Statement – June 2017 – jurisdictions subject to an FATF call for action In relation to the Democratic People’s Republic of Korea, the FATF continues to call on both its members and other jurisdictions to apply counter-measures to protect […]

MLD 4 – European Parliament rejects European Commission blacklist of states at risk of money laundering for second time. The European Parliament has, for the second time, rejected the European Commission’s proposal to amend Commission Delegated Regulation 2016/1675 supplementing the fourth Money Laundering Directive (MLD 4). Committee MEPs have called for the EU to have […]

Seventy five years after the first use of an atomic bomb, the proliferation of weapons of mass destruction (WMD) continues to be a threat to international peace and security. Each year, governments invest major resources in combating the quickening spread of WMD, which include nuclear weapons. Examples are the disrupting of the procurement networks, prosecuting […]

The Commission Delegated Regulation (EU) 2016/1675 supplementing the fourth Money Laundering Directive (MLD 4) by identifying high-risk third countries with strategic deficiencies has been published in the Official Journal of the EU (OJ). The Delegated Regulation will come into force on 23 September 2016. A copy of the Delegated Regulation is available HERE High-risk third […]

The Financial Action Task Force (FATF), the intergovernmental organization that sets global standards to combat money laundering and finance for terrorism and proliferation, had a clear message for financial institutions last week when it declined to remove the Islamic Republic of Iran from its high-risk blacklist: Iran may say it’s open for business but it’s […]