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...] about Summary of Singapore’s FATF Mutual Evaluation
Commentary section on AML/CFT.
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...] about London Attack: The importance of clamping down terrorist financing
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...] about How to conduct proper customer due diligence (CDD)
The techniques used by money launderers are many and varied: they evolve to match the volume of funds to be laundered and the legislative and regulatory environment of the various jurisdictions in which they are laundered.The sophisticated money launderer usually … [Read more...] about Money laundering trends and techniques
Firms are required to ensure compliance with global sanctions regimes and export controls to prevent terrorism and organised crime. In order to meet these requirements, they will need to monitor regulatory changes and maintain an internal framework to ensure that … [Read more...] about Designing a governance framework for sanctions