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 →
Commentary section on AML/CFT.
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 →
Singapore's mutual evaluation with the Financial Action Task Force (FATF) and Asia/Pacific Group on Money Laundering (APG) recently concluded on September 2016 and here are the summarised results. Rating Methodology Immediate Outcomes (I.O) represents the ... Read More →
London - A man wielding two knifes killed 4 people and injuring 40 others before being shot dead by officers. Prime Minister Theresa May condemned this act as a "sick and depraved terrorist attack"The act happened on London's Westminster Bridge where the assailant ... Read More →
Conducting customer due diligence or CDD is a skill every AML compliance officer should have. A typical investigation into a potential suspicious transaction will begin with CDD. In most countries with robust AML/CFT framework, it is compulsory for a financial ... Read More →