Tag: Financial Action Task Force

Navigating the intricacies of PEP identification in FinTech compliance

Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering (AML) compliance software, emphasises the critical importance of accurately identifying and screening PEPs before any business engagement.

What it means for the UAE nearing the end of FATF...

In a significant development reported in October 2023, the United Arab Emirates (UAE) is on the cusp of being removed from the Financial Action Task Force's (FATF) "grey list."

Adapting to change: How the UK’s latest money laundering amendments impact...

On January 10, 2024, a pivotal shift in the UK's regulatory framework will unfold as the Money Laundering and Terrorist Financing (Amendment) Regulations 2023...

Understanding proliferation financing: Key steps for compliance and risk management

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

AML vs KYC: Ensuring robust financial compliance in 2023

In today's evolving global financial landscape, the security and integrity of financial transactions are of utmost importance. At the heart of this security lie...

Transforming corrupt cash flows: A look into the world of RegTech...

Fenergo FinTalks podcast has released its latest episode where it aims to offer the newest insights into the world of RegTech, compliance, and anti-money laundering (AML).

Australia’s fight against financial crimes: Arctic Intelligence’s CEO pushes for AML/CTF...

The Attorney General’s Department (AGD) in Australia initiated a public consultation on 20 April 2023 to discuss proposed reforms to the country’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. These potential changes aim to broaden the current AML/CTF legislation to cover 'tranche-two' high-risk sectors including lawyers, accountants, real estate agents, company service providers, and dealers in precious metals and stones.

What is the Travel Rule for crypto?

Cryptocurrency is becoming increasingly popular, but so is its use for money laundering. The Financial Action Task Force (FATF) recently revealed the Travel Rule for crypto, but what does this mean?

Money laundering rules in Hong Kong are about to get stricter

A Hong Kong regulator is about to make the region's money laundering rules even stricter to prevent illicit funds from flowing out of mainland China.

FATF releases new guidance on digital identity

Financial Action Task Force (FATF) has released a new guidance report on digital identity as the number of digital transactions continues to rise.

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