Events listed in FATF Recommendations
High-Risk Jurisdictions subject to a Call for Action & Jurisdictions under ...
ID 25546
The FATF has updated – yet not changed – the list of High-Risk Jurisdictions subject to a Call for Action due to their deficiencies in countering money laundering, terrorist financing, and financing of proliferation, the so-called „black list“. Due to the COVID-19 pandemic, the FATF review process for Iran and DPRK was paused, as these countries are already subject to the FATF’s call for ...
FCA sets out expectations for UK cryptoasset businesses complying with the Travel ...
ID 24659
In view of the coming into force of the so-called „travel rule“ for cryptoasset businesses which requires the collection, verification and sharing of information about cryptoasset transfers, the Financial Conduct Authority (FCA) has published a press statement. Therein, the regulator outlines its expectations of firms in this context and the approaches they shall take when sending or receiving cryptoasset transfers from jurisdictions without the ...
FATF hat ihre Bekanntgabe aktualisiert
ID 24035
Die FINMA informiert über die Aktualisierung der FATF-Bekanntgabe über Hochrisiko- und Überwachungsländer, in der die FATF ihre Rolle bei der Bekämpfung von Geldwäsche, Terrorismusfinanzierung und Proliferationsfinanzierung hervorhebt (eventid=21680). Die FATF ist eine internationale Organisation, die sich der Entwicklung und Förderung von Maßnahmen zur Bekämpfung dieser illegalen Aktivitäten widmet und der auch die Schweiz angehört. Die FATF stuft bestimmte Länder aufgrund e ...
FATF Methodology for assessing compliance with the FATF Recommendations and the ...
ID 23983
The FATF has made amendments to its Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems, initially adopted on 22 February 2013. This revised Methodology serves as the basis for conducting assessments of technical compliance with the updated FATF Recommendations, adopted in February 2012, as well as evaluating the level of effectiveness of a country’s AML/CFT system. **The document ...
Public Consultations on a) the FATF Best Practice Paper to Combat the Abuse of Non ...
ID 23956
The FATF launched a set of consultations in the context of the FATF Recommendation 8 on NPOs. Indeed, as stated in the FATF Recommendations (last updated in February 2023), the revision of the standard on NPOs aims to provide clarity regarding the specific subset of NPOs that should be subjected to supervision and monitoring. This revision brings INR.8 in line with the FATF Typologies ...
Virtual Assets: Targeted Update on Implementation of the FATF Standards on VAs and ...
ID 23890
The FATF has extended its AML/CFT measures to include VAs and VASPs in order to prevent criminal and terrorist misuse of this sector. However, a recent report by FATF reveals that many jurisdictions are struggling with the implementation of FATF’s standards on VAs and VASPs. The report highlights that **75% of jurisdictions, based on 98 FATF mutual evaluation and follow-up reports, are only partially ...
FATF Plenary Outcomes, Mutual Evaluation of Luxembourg, High-Risk Jurisdictions ...
ID 23851
The third Plenary of the FATF was held under the Presidency of T. Raja Kumar of Singapore in Paris. Delegates from over 200 jurisdictions and international organizations participated in the discussions. The importance of a global response to combat money laundering, financing of terrorism, and proliferation was emphasized. The FATF expressed its condolences to Ukraine for the loss of life and infrastructure caused by ...
Publication of the Wolfsberg Group and IIF Comment Letter to EBA on de-risking
ID 21767
On 7 February 2023, the Wolfsberg Group together with the Institute of International Finance (IIF) (thereafter called „the Group“) issued a press release, informing about their common submission of comments in response to the EBA’s public consultation on effective management of ML/TF risks when providing access to financial servics (EBA/CP/2022/13) on effective management of Money Laundering and Terrorist Financing (ML/TF) risks („de-risking“) when pro ...