Interesting article on the latest Basel 2015 AML Index and the impact of FATF standards on country evaluation. Calls made for the group to take ‘a “holistic approach to the risks of money laundering and terrorist financing,” such as including the perception of corruption and the general transparency of a country’s financial sector and even […]

On 25 June 2015 the fourth Money Laundering Directive (“Directive”) entered into force. http://bit.ly/1gPQ0pK The Directive applies to a broad range of businesses from banks and financial institutions to auditors, tax advisors and legal professionals. The European Union continues to tighten its grip on money laundering and, to this end, the Directive provides a number […]

The Financial Action Task Force (FATF) has published a report on money laundering, terrorist financing risks and vulnerabilities associated with gold. The report provides a series of case studies and red flag indicators to raise awareness of the vulnerabilities of gold and the gold market from an anti-money laundering and terrorist financing perspective. Copies of […]

In the midst of turmoil in the Chinese stock markets, one serious problem that may appear is increased currency outflows created by current and potential investors who would rather move their assets to foreign countries viewed as safer havens. Money laundering should be under close surveillance. Chinese involvement in money laundering has been growing. “China […]

The Financial Action Task Force (FATF) held its plenary meeting on 24-26 June 2015. The main issues dealt with by the FATF were: issuing a statement and setting out a future work plan on “de-risking”; producing two public documents identifying jurisdictions that may pose a risk to the international financial system: jurisdictions with strategic anti-money […]

Whether based on hard fact or supposition, there is no ignoring the growing and unwelcome reputation of London as a global capital of money-laundering. Regardless of whether this is an effect of ‘circular reporting’ or the efforts of individual investigative journalists, there are repeated calls for the UK to clean up ‘the City’ and tackle […]

On 29 April 2015 the Swiss government, the Federal Council in Berne, announced that the revised Financial Action Task Force (FATF) recommendations of 2012 will come into effect in two stages. Some of the recommendations will apply as of 1 July 2015, while some will apply from 1 January 2016. The main focus of the […]

On 29 April 2015 the Swiss government, the Federal Council in Berne, announced that the revised Financial Action Task Force (FATF) recommendations of 2012 will come into effect in two stages. Some of the recommendations will apply as of 1 July 2015, while some will apply from 1 January 2016. The main focus of the […]