Tag: Financial Action Task Force
How KYC is reinventing financial security standards globally
The battle against financial crime is ongoing and complex, with Know Your Customer (KYC) protocols at the forefront of safeguarding compliance and securing business...
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.
Navigating the complex world of customer due diligence regulations
Customer Due Diligence (CDD) stands as a cornerstone in the ongoing battle against money laundering and terrorist financing. It compels regulated entities to collect and verify personal details—name, address, date of birth, and government-issued identification—from customers to authenticate their identities and assess potential financial crime risks.
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.
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.
