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 →
Articles
Commentary section on AML/CFT.
BIS updates guidelines on sound management of risks related to money laundering and financing of terrorism
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 →
MAS 1MDB probe: Summary of Regulatory Actions taken
Update 20 Dec 2017 - MAS issued Prohibition Orders to Mr Yeo Jiawei and Mr Kevin Scully and has been updated below. SINGAPORE - The central bank of Singapore, Monetary Authority of Singapore (MAS), announced that it had concluded its review of transactions relating ... Read More →
Wolfsberg Group updates PEP guidance
The Wolfsberg Group (Wolfsberg) updated its guidance as to how Financial Institutions (FIs) should hand the money laundering risks posed by Politically Exposed Persons (PEPs). Wolfsberg reiterated the importance of addressing the financial crime ... Read More →
Formulating a Comprehensive AML Policy
In most countries with robust anti-money laundering/countering the financing of terrorism (AML/CFT) governance framework, it is compulsory for financial institutions (FIs) to have its AML/CFT framework documented in the form of a company policy. This allows the FIs to ... Read More →
