Banks – AML/CFT Red Flags Transactions Which Do Not Make Economic SenseTransactions that cannot be reconciled with the usual activities of the customer, for example ―
(a) the use of Letters of Credit and other methods of trade finance to move money between countries or jurisdictions where such trade is not consistent ...
Singapore companies sanctioned by OFAC for aiding North Korea The Office of Foreign Assets Control (OFAC) has designated 16 entities and individuals for activities related to supporting the Democratic People's Republic Korea's (North Korea) nuclear and ballistic missile programs, energy trade, labour exports, and sanctions evasion.Amongst them are two Sing...
FATF – High-risk and non-cooperative jurisdictions On the basis of the results of the review by the International Co-operation Review Group (ICRG), the FATF identifies jurisdictions with strategic AML/CFT deficiencies in the following public documents that are issued three times a year: FATF Public Statement (call for action) and Improving Global AM...
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