Financial Action Task Force (FATF) adopted guidance on transparency and beneficial ownership and risk-based approach guidance for the banking sector. FATF has established standards on transparency, so as to deter and prevent the misuse of corporate vehicles (such as companies, trusts, foundations, partnerships, and other types of legal persons and arrangements). The risk-based approach is […]

The Financial Action Task Force (FATF) has published updated guidance in respect of a risk-based approach for the banking sector. This guidance is intended to assist in the design and implementation of a risk-based approach for the banking sector, taking into account national risk assessments and the national legal and regulatory framework. FATF intends for […]