๐ ๐๐๐ ๐๐ซ๐๐ฒ ๐๐ข๐ฌ๐ญ ๐๐ฉ๐๐๐ญ๐: ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ ๐๐๐ฆ๐จ๐ฏ๐๐ฅ๐ฌ On June 28, 2024, the Financial Action Task Force (FATF) updated its Grey List, which identifies countries with deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks. The Grey List highlights nations that need to enhance their regulatory measures to meet FATF standards. In this article, we break down the following topics to provide context about the Grey List and the steps countries need to take to be removed from it: ๐Countries Currently on the FATF Grey List ๐Countries No Longer on the FATF Grey List ๐The Importance of FATF Compliance ๐Implications for Businesses and Investors ๐Steps Forward for Grey List Countries ๐๐ฅ๐ข๐๐ค ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐ฌ ๐ญ๐จ ๐ซ๐๐๐ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐๐ซ๐ญ๐ข๐๐ฅ๐ #FATF #GreyList #AML #CTF #antimoneylaundering #counterterroristfinancing #regulatorymeasures #compliance #businessimplications #investmentimplications
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๐๐๐ญ๐๐ฌ๐ญ ๐ ๐ข๐ง๐๐ง๐๐ข๐๐ฅ ๐๐๐ญ๐ข๐จ๐ง ๐๐๐ฌ๐ค ๐ ๐จ๐ซ๐๐ (๐ ๐๐๐ ) ๐๐ซ๐๐ฒ ๐๐ข๐ฌ๐ญ ๐๐ฉ๐๐๐ญ๐ On the 28th of June 2024 the Financial Action Task Force (FATF) updated its Grey List, highlighting countries with deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks. ๐๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ฅ๐๐ญ๐๐ฌ๐ญ ๐ฎ๐ฉ๐๐๐ญ๐, ๐ญ๐ก๐ ๐๐จ๐ฎ๐ง๐ญ๐ซ๐ข๐๐ฌ ๐จ๐ง ๐ญ๐ก๐ ๐๐ซ๐๐ฒ ๐๐ข๐ฌ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐: Bulgaria Burkina Faso Cameroon Croatia Democratic Republic of the Congo Haiti Kenya Mali Monaco - Newly added Mozambique Namibia Nigeria Philippines Senegal South Africa South Sudan Syria Tanzania Venezuela - Newly added Vietnam Yemen Being on the Grey List indicates that these countries need to work on improving their AML and CTF measures to meet FATF standards. However, there is good news for Jamaica and Tรผrkiye, as they have successfully implemented the required reforms and have been removed from the Grey List. This progress showcases the positive impact of international cooperation and diligent efforts to enhance financial transparency and security. #FATFGreyList #antimoneylaundering #counterterroristfinancing #AML #CTF #financialcompliance, #FATFupdates #Jamaica #Tรผrkiye
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๐ ๐๐๐ ๐๐ซ๐๐ข๐ง๐ข๐ง๐ ๐ฐ๐ข๐ญ๐ก ๐๐๐ซ๐ญ๐ข๐๐ข๐๐๐ญ๐ โ ๐๐ง๐ก๐๐ง๐๐ ๐๐จ๐ฎ๐ซ ๐๐๐/๐๐ ๐ ๐๐ง๐จ๐ฐ๐ฅ๐๐๐ ๐ Always wanted to take an AML course to have a better understanding of the world of Anti-Money Laundering (#AML) and Financial Crime but didnโt know where to start? At KYC Lookup we will always be committed to empowering individuals with the essential knowledge and skills needed to combat financial crime effectively. Our ๐ ๐๐๐ ๐ ๐จ๐ฎ๐ง๐๐๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐๐๐/๐๐๐ ๐๐๐ฆ๐จ ๐๐จ๐ฎ๐ซ๐ฌ๐ย (๐ ๐ฆ๐ด, ๐ช๐ต ๐ช๐ด ๐ข๐ค๐ต๐ถ๐ข๐ญ๐ญ๐บ ๐๐๐๐) has been crafted to prepare you with the foundational tools and expertise required for a successful career in AML. ๐๐ก๐ฒ ๐๐ก๐จ๐ฎ๐ฅ๐ ๐๐จ๐ฎ ๐๐๐ ๐ข๐ฌ๐ญ๐๐ซ ๐๐จ๐๐๐ฒ? โ ๐๐๐๐๐ฌ๐ฌ๐ข๐๐ฅ๐ ๐๐ง๐ฒ๐ญ๐ข๐ฆ๐, ๐๐ง๐ฒ๐ฐ๐ก๐๐ซ๐:ย Our online course is available 24/7, allowing you to learn at your own pace, whether at home, work, or on the go. โ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐ฎ๐ซ๐ซ๐ข๐๐ฎ๐ฅ๐ฎ๐ฆ:ย Covering AML and CFT fundamentals, risk assessment and compliance. โ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐๐ซ๐ญ๐ข๐๐ข๐๐๐ญ๐ข๐จ๐ง:ย Receive a digital certificate upon course completion (most certificates are issued within 48hrs from registration), enhancing your CV and showcasing your dedication to excellence. โ ย ๐๐จ ๐๐จ๐ฌ๐ญ, ๐๐จ ๐๐ข๐ฌ๐ค:ย Our 15-minute demo course is entirely FREE! So seize this incredible opportunity without any financial commitment and enjoy future discounts on KYC Lookup courses. โ ย ๐๐ง๐ฃ๐จ๐ฒ ๐ ๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ๐ฌ: By registering to our free training you also get to enjoy future discounts on our paid for accredited online courses. Take the first step towards becoming an AML/CFT professional! ๐๐ข๐ง๐ค ๐ญ๐จ ๐๐ซ๐๐ข๐ง๐ข๐ง๐ : https://lnkd.in/evA4QN92 #FreeAMLTraining #AML #CFT #FinancialCrimePrevention #KYCTraining #OnlineTraining #ProfessionalDevelopment #CareerGrowth
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We want to take a moment to continue to express our gratitude for the support we have received! Even though we didn't win last night, being nominated as ๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐๐ ๐๐ง๐๐ฅ๐ฎ๐๐ง๐๐๐ซ ๐จ๐ ๐ญ๐ก๐ ๐๐๐๐ซ by the International Compliance Association (#ICA) was an incredible honour, this recognition alone is a testament to our hard work and dedication. At KYC Lookup we are committed to continue to bring you Financial Crime related online courses and video tutorials which will help to enhance your AML knowledge and keep regulated sectors in compliance with local AML regulations. ๐๐ก๐๐ง๐ค ๐ฒ๐จ๐ฎ ๐๐ฅ๐ฅ ๐๐จ๐ซ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ! www.kyclookup.com
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Tonight is the night as they say... As we prepare for our founder William Bolivar to attend tonight's ๐๐๐ ๐๐๐ฎ๐ฟ๐ฑ๐, We would like to take this opportunity to thank everyone for their support and wish all the nominees in the ๐๐ผ๐บ๐ฝ๐น๐ถ๐ฎ๐ป๐ฐ๐ฒ ๐๐ป๐ณ๐น๐๐ฒ๐ป๐ฐ๐ฒ๐ฟ ๐ผ๐ณ ๐๐ต๐ฒ ๐ฌ๐ฒ๐ฎ๐ฟ ๐๐๐ฎ๐ฟ๐ฑ category the best of luck. It would be great to meet fellow nominees at the ceremony and to take a minute to reflect on how far KYC Lookup has come in raising awareness about the dangers of money laundering and financial crime. Thank you International Compliance Association for the nomination and once again to everyone who has supported us. #ICAAwards #ICA #KYCLookup
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๐ ๐๐๐ ๐๐๐ฆ๐จ ๐๐๐ ๐๐ง๐ฅ๐ข๐ง๐ ๐๐ซ๐๐ข๐ง๐ข๐ง๐ - ๐๐ข๐ฆ๐ ๐ญ๐จ ๐๐ง๐ก๐๐ง๐๐ ๐๐จ๐ฎ๐ซ ๐๐๐/๐๐ ๐ ๐๐ง๐จ๐ฐ๐ฅ๐๐๐ ๐! Ready to dive into the world of Anti-Money Laundering (#AML) and Combatting the Financing of Terrorism (#CFT), but not sure where to start? At KYC Lookup we are committed to empowering individuals with the essential knowledge and skills needed to combat financial crime effectively. Our ๐ ๐๐๐ ๐๐๐/๐๐ ๐ ๐๐๐ฆ๐จ ๐๐จ๐ฎ๐ซ๐ฌ๐ has been crafted to prepare you with the foundational tools and expertise required for a successful career in AML. ๐๐ก๐ฒ ๐๐ก๐จ๐ฎ๐ฅ๐ ๐๐จ๐ฎ ๐๐๐ ๐ข๐ฌ๐ญ๐๐ซ ๐๐จ๐๐๐ฒ? โ ๐๐๐๐๐ฌ๐ฌ๐ข๐๐ฅ๐ ๐๐ง๐ฒ๐ญ๐ข๐ฆ๐, ๐๐ง๐ฒ๐ฐ๐ก๐๐ซ๐: Our online course is available 24/7, allowing you to learn at your own pace, whether at home, work, or on the go. โ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐ฎ๐ซ๐ซ๐ข๐๐ฎ๐ฅ๐ฎ๐ฆ:ย Covering AML and CFT fundamentals, risk assessment, and compliance. โ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐๐ซ๐ญ๐ข๐๐ข๐๐๐ญ๐ข๐จ๐ง: Receive a digital certificate upon course completion, enhancing your CV and showcasing your dedication to AML excellence. โ ย ๐๐จ ๐๐จ๐ฌ๐ญ, ๐๐จ ๐๐ข๐ฌ๐ค:ย Our 15-minute demo course is entirely FREE! Seize this incredible opportunity without any financial commitment and enjoy future discounts on KYC Lookup courses. Take the first step towards becoming an AML/CFT professional! ๐๐๐ ๐ข๐ฌ๐ญ๐๐ซ ๐๐จ๐๐๐ฒ! https://lnkd.in/evA4QN92 #FreeAMLTraining #AML #CFT #FinancialCrimePrevention #KYCTraining #OnlineTraining #ProfessionalDevelopment #CareerGrowth
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๐๐๐ ๐๐๐๐ก ๐๐๐ซ๐ข๐๐ ๐ฌ๐ญ๐๐ซ๐ญ๐ฌ ๐ญ๐จ๐๐๐ฒ, For anyone who is in Lagos, Nigeria come down to the Oriental Hotel in Victoria Island and attend in person. If you cant make in person, feel free to sign up to attend virtually via the below link: KYC In Africa will be present at the event so feel free to pop by to say hello. To find out more about Regtech Africa please see the link below: https://lnkd.in/eANYk_Yc #RegTechAfrica #AML #Regulations
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๐๐๐ ๐๐๐๐๐๐๐๐: ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ย Given the complexity and evolving nature of financial crimes, appropriate training is indispensable for #professionals working in the financial sector. At KYC Lookup, we offer comprehensive #AML training programs tailored to the needs of industry professionals. Our ๐๐๐ ๐ญ๐ซ๐๐ข๐ง๐ข๐ง๐ covers a wide range of topics, including understanding money laundering techniques, identifying red flags, conducting customer due diligence and complying with regulatory requirements. Through ๐ข๐ง๐ญ๐๐ซ๐๐๐ญ๐ข๐ฏ๐ ๐ฆ๐จ๐๐ฎ๐ฅ๐๐ฌ,ย case studies and real-world scenarios, participants gain practical insights and develop the skills needed to detect and prevent money laundering activities effectively. Our full accreditation as an AML #training provider ensures that the training meets the highest standards of quality and relevance. Participants can trust that they are receiving up-to-date information and industry best practices, providing them to navigate the complexities of AML compliance with confidence. ๐๐จ ๐ ๐ข๐ง๐ ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐๐ ๐จ๐ซ ๐๐จ๐ง๐ญ๐๐๐ญ ๐ฎ๐ฌ ๐ฏ๐ข๐ ๐จ๐ฎ๐ซ ๐ฐ๐๐๐ฌ๐ข๐ญ๐.
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๐๐ข๐ ๐๐๐ฐ๐ฌ ๐๐ง๐ง๐จ๐ฎ๐ง๐๐๐ฆ๐๐ง๐ญ! After months of anticipation, we're thrilled to unveil a partnership that's set to make waves in Nigeria's financial landscape! Since 2023, KYC Lookup has been in deep discussions with Regtech Africa laying the groundwork for an exciting collaboration to bring our renowned AML Education program to Nigeria. Today, we're beyond excited to declare that we're officially ready to kick off this partnership! Thank you Cyril Okoroigwe CISA, CISM, CRISC, PMP and Mohamed Emam , ICA , CRCO for your collaboration and contribution.
๐๐ฑ๐๐ข๐ญ๐ข๐ง๐ ๐๐๐ซ๐ญ๐ง๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ญ๐จ ๐๐ง๐ง๐จ๐ฎ๐ง๐๐! We're thrilled to announce our partnership with Regtech Africa which will bring our AML education Online Courses and video tutorials to Nigeria and the rest of the African continent. ๐๐จ๐ฐ ๐๐ซ๐ ๐ฐ๐ ๐ฉ๐ฅ๐๐ง๐ง๐ข๐ง๐ ๐ญ๐จ ๐๐จ ๐ญ๐ก๐ข๐ฌ? By harnessing KYC Lookup's expertise in delivering comprehensive and fully accredited #AML education materials alongside RegTech Africa's extensive reach and cutting-edge market intelligence platform. This strategic alliance is all about empowering organisations and individuals with the knowledge and tools they need to combat financial crime effectively. This strategic partnership marks a significant step forward in advancing AML #education and fostering regulatory compliance across Africa. Both KYC Lookup and RegTech Africa are committed to driving positive change and promoting a culture of integrity and transparency within the region's financial landscape. ๐๐ญ๐๐ฒ ๐ญ๐ฎ๐ง๐๐ ๐๐จ๐ซ ๐ฆ๐จ๐ซ๐ ๐ฎ๐ฉ๐๐๐ญ๐๐ฌ ๐๐ฌ ๐ฐ๐ ๐๐ฆ๐๐๐ซ๐ค ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐ข๐ง๐๐ซ๐๐๐ข๐๐ฅ๐ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ ๐ญ๐จ๐ ๐๐ญ๐ก๐๐ซ! Central Bank of Nigeria United Nations Security council Cyril Okoroigwe CISA, CISM, CRISC, PMP #AMLeducation #RegTechAfrica #KYCLookup #Partnership #Announcement #Nigeria #Africa
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๐๐ก๐ ๐๐จ๐ง๐๐ฒ ๐๐๐ฎ๐ง๐๐๐ซ๐ข๐ง๐ ๐๐ฒ๐๐ฅ๐โ The Money Laundering cycle has evolved over time and although the introduction of digitisation has somewhat changed how money launders operate to some extent, the underlying logic and fundamentals of the cycle still remain the same. ๐๐๐ ๐๐๐ฅ๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฉ๐จ๐ฌ๐ญ KYC In Africa is your go-to destination for all things Financial Crime related tailored specifically for our audience on the African continent. Follow our page for bespoke content designed to enhance your understanding of AML/KYC practices.
๐๐ฑ๐๐ฆ๐ฉ๐ฅ๐๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐จ๐ง๐๐ฒ ๐๐๐ฎ๐ง๐๐๐ซ๐ข๐ง๐ ๐๐ฒ๐๐ฅ๐!! Money laundering, the complex process of disguising the origins of illicit funds, poses a significant threat to the integrity of financial systems worldwide. As an AML professional Itโs essential to understand the three stages of money laundering in detail, although it can be claimed the phases are different nowadays, the three phases can still be discovered in most money laundering networks. Letโs look in detail into each stage of money laundering, ๐๐๐๐๐ 1: ๐๐๐๐๐๐๐๐๐ The initial stage of money laundering involves placing illicit funds into the legitimate financial system. Criminals employ various tactics to accomplish this, such as structuring cash deposits to evade reporting requirements, purchasing high-value assets like real estate or luxury goods, or utilising shell companies and offshore accounts to obscure the source of funds. Placement establishes a foundational layer of legitimacy for illicit proceeds, making it more challenging for authorities to trace their origins. ๐๐๐๐๐ 2: ๐๐๐๐๐๐๐๐ In the layering stage, launderers engage in a series of complex financial transactions to further conceal the source and ownership of illicit funds. This often involves transferring funds between multiple accounts, converting cash into other assets such as securities or cryptocurrencies, or conducting transactions through intermediaries to create layers of complexity. Layering serves to obscure the money trail, making it increasingly difficult for investigators to untangle and trace the flow of illicit funds. ๐๐๐๐๐ 3: ๐๐๐๐๐๐๐๐๐๐๐ The final stage of money laundering entails integrating laundered funds back into the legitimate economy, making them appear as if they originated from lawful sources. This may involve investing in legitimate businesses, purchasing real estate or luxury assets or using laundered funds to finance other criminal activities. Integration allows launderers to enjoy the proceeds of their illicit activities without raising suspicion, effectively legitimising the tainted funds in the eyes of the law. โญ If you find this valuable, please like and share it with your network. ๐๐ ๐ฌ๐ฎ๐ซ๐ ๐ญ๐จ ๐ก๐ข๐ญ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ ๐๐ฎ๐ญ๐ญ๐จ๐ง ๐๐จ๐ซ ๐๐จ๐ง๐ญ๐ข๐ง๐ฎ๐จ๐ฎ๐ฌ ๐จ๐ง๐ฅ๐ข๐ง๐ ๐๐๐ ๐๐๐ฎ๐๐๐ญ๐ข๐จ๐ง! #MoneyLaundering #FinancialCrime #AML #Compliance #FraudPrevention #FinancialIntelligence #KYC #KYCLookup #KYCInAfrica #Africa
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๐๐ฅ๐ข๐๐ค ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ญ๐จ ๐ซ๐๐๐ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐๐ซ๐ญ๐ข๐๐ฅ๐: https://www.kyclookup.com/knowledgebase/fatf-grey-list-update-2024-aml-ctf-compliance