Following the publication by the Financial Action Task Force of two statements identifying jurisdictions with strategic deficiencies in their anti-money laundering and counter-terrorist financing (AML/CTF) regimes (see daily news 2 March 2015), HM Treasury has published an updated advisory notice advising firms to: consider Iran, Myanmar and the Democratic People’s Republic of Korea high risk […]

Germany, Luxembourg, and Spain are egregious offenders in “supporting an unjust global tax system,” according to a new report from the European Network on Debt and Development (Eurodad), a network of NGOs. The report authors write that Germany and Luxembourg in particular “offer a diverse menu of options for concealing ownership and laundering money.” “There […]

The Financial Action Task Force (FATF) has published a report on emerging terrorist financing risks. The report describes recently identified terrorist financing methods and concludes that understanding how a terrorist organisation manages its assets is critical to starving the organisation of funds and disrupting its activities in the long term. The report concludes that, while […]

On 23 October 2015, the Financial Action Task Force (FATF) published a press release announcing the outcomes from its plenary meeting held in Paris between 21 to 23 October 2015. A couple of the outcomes are of particular interest to financial services practitioners. http://www.fatf-gafi.org/publications/fatfgeneral/documents/outcomes-plenary-october-2015.html The FATF has published a statement on its action to tackle […]

The Financial Action Task Force (FATF) has published a report on emerging terrorist financing risks. The report describes recently identified terrorist financing methods and concludes that understanding how a terrorist organisation manages its assets is critical to starving the organisation of funds and disrupting its activities in the long term. The report concludes that, while […]

From India to Spain, civil society is becoming increasingly constrained, with the FATF – set up to combat financial crime – unwittingly restricting NGOs The right to freedom of association and expression is not adequately protected in many countries. Associate director for participation with the Open Society Human Rights Initiative. Laws restricting the space for […]

While Malaysia’s premier faces tough questions over the origin of hundreds of millions of dollars transferred to his bank accounts, the country has tentatively received good grades for its anti-money-laundering efforts from a team of international experts, documents reviewed by Reuters show. A draft report by the Paris-based Financial Action Task Force (FATF), a global […]

The U.K. government will conclude it needs to do more to tackle “high-end” economic crime in its first-ever National Risk Assessment of Money Laundering and Terrorist Financing, according to one of the state’s top legal advisers. The long-awaited report, which is due to be published “soon,” will say that more needs to be done against […]