A key aspect of AML/CFT compliance is name screening, which involves checking the names of individuals and entities against watchlists, containing multiple lists of sanctioned or high-risk individuals and organisations, usually obtained through a name screening database ... Read More →
Singapore’s ACIP Releases Guidance on Legal Persons and Trade-Based Money Laundering
ACIP has released 2 guidance papers on approaches towards the misuse of legal persons and trade-based money laundering (TBML) during a dialogue held on 14 May. The ACIP is Singapore’s public-private collaboration to exchange views and information on anti-money ... Read More →
UK Overseas Territories to have Public Beneficial Ownership Registers
The parliament of United Kingdom made history today by voting to release beneficial ownership information on its overseas territories (OTs) publicly. The amendment requires 14 OTs to disclose the information by 2020. However, the amendment does not apply to the Crown ... Read More →
Hong Kong Releases 2018 ML/TF Risk Assessment Report
On April 30, the Hong Kong Financial Services and the Treasury Bureau has released the Money Laundering / Terrorist Financing (ML/TF) Risk Assessment Report. The report examines ML/TF threats and vulnerabilities facing Hong Kong and the steps taken to the remediate ... Read More →
G20 Adoption of Beneficial Ownership Principles Slow
In the fight against money laundering, terrorist financing, corruption, human trafficking, sanctions and tax evasion and other financial crimes, shell companies are a key instrument for beneficial owners in providing anonymity. However, a report by Transparency ... Read More →
