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 →
Commentary section on AML/CFT.
Singapore cryptocurrency firms are facing bank account closures, according to a news report by Bloomberg. By design, digital currency provides greater anonymity than traditional non-cash payment methods, which makes them attractive to money launderers and terrorists. In ... Read More →
Aligning an organisation's business processes with the relevant anti-money laundering / countering the financing of terrorism (AML/CFT) regulations and best practices is no easy feat to accomplish. The difficulty of it amplifies when the business is massive and ... Read More →
Publication from Financial Action Task Force 29 June 2017 Effective information-sharing is one of the cornerstones of a well-functioning AML/CFT framework. Constructive and timely exchange of information is a key requirement of the FATF standards and cuts across a ... Read More →
The Basel Committee on Banking Supervision has finalised its revisions to the annexe on correspondent banking. These revisions are included in a new release of the guidelines on the Sound management of risks related to money laundering and financing of terrorism, ... Read More →