Tag: FATF
FCA’s new guidelines on PEPs: A shift towards risk-sensitive compliance
In July 2024, the FCA initiated a crucial dialogue within the financial sector by opening a consultation aimed at refining the treatment of PEPs.
Navigating the nuances of KYC and KYB in modern AML strategies
In the evolving landscape of financial regulation, institutions face increasing pressure to implement robust due diligence systems.
Malaysia’s path to enhanced financial transparency and AML compliance
Financial institutions and regulated entities across Malaysia are gearing up for the nation’s fifth mutual evaluation by the FATF, scheduled for 2025.
UAE’s digital leap: How regulatory sandboxes fuel AML compliance
The United Arab Emirates (UAE) is experiencing a notable economic surge, becoming a magnet for foreign investments and job opportunities. This economic growth is coupled with ambitious plans under the UAE Digital Economy Strategy launched in April 2022, aiming to increase the nation's GDP contribution from digital services from 9.7% in 2022 to 19.4% over the next decade. The strategy positions the UAE as a pivotal digital economy hub both regionally and globally.
EBA issues new guidelines to enforce travel rule
The European Banking Authority (EBA) today announced the introduction of new Guidelines concerning the 'travel rule' for fund and crypto asset transfers.
How the UAE’s exit from the FATF grey list boosts international...
The United Arab Emirates (UAE) has made significant strides in its anti-money laundering (AML) and combating the financing of terrorism (CFT) frameworks.
Safeguarding financial integrity through advanced AML compliance strategies
In today's financial landscape, AML transaction monitoring is key for protecting the integrity of financial institutions and the global financial system.
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...
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 come into effect.
