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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๐ The Wolfsberg Group releases new guidance on effective monitoring for suspicious activity ๐ The Wolfsberg Group is a leading coalition of financial institutions focusing on regulatory compliance issues, has published its latest statement on โEffective Monitoring for Suspicious Activityโ (MSA). ๐ฑ๐ฐ This document outlines advanced strategies to refine anti-money laundering (AML) and counter-terrorist financing (CTF) efforts across the sector, moving beyond traditional transaction monitoring towards a comprehensive, risk-based approach. ๐ Read the news by following the link in the comments section below โฌ๏ธ #thewolfsberggroup #AML #CTF #fraudprevention
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Proliferation Financing forms part of the compliance landscape, like anti-money laundering and counter-terrorism financing. However, itโs only recently that regulators have started to introduce tighter measures to help businesses identify PF risks. The UK is currently leading the way but many companies are only just beginning to understand the risks of proliferation financing and there are steps organisations can take to reduce and assess their exposure. In this article we explore what the Financial Action Task Force (FATF) is doing to counteract PF risk, and highlights the key areas businesses can focus on to identify and address potential risks โฌ๏ธ https://hubs.la/Q02fJkRv0 #financialcrime #regtech #amlcompliance #CTF #proliferationfinancing #ctfcompliance
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Proliferation Financing forms part of the compliance landscape, like anti-money laundering and counter-terrorism financing. However, itโs only recently that regulators have started to introduce tighter measures to help businesses identify PF risks. The UK is currently leading the way but many companies are only just beginning to understand the risks of proliferation financing and there are steps organisations can take to reduce and assess their exposure. In this article we explore what the Financial Action Task Force (FATF) is doing to counteract PF risk, and highlights the key areas businesses can focus on to identify and address potential risks โฌ๏ธ https://hubs.la/Q02fJmCQ0 #financialcrime #regtech #amlcompliance #CTF #proliferationfinancing #ctfcompliance
Proliferation Financing risks: What businesses need to know โ AML Compliance | Arctic Intelligence
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The Subject Matter Powered By - PreScreening.io This week's Subject Matter is about the AML/CFT Supervisory Regime, The Wolfsberg Group On September 29, 2023, the Wolfsberg Group responded to the HMT public consultation on reform of the anti-money laundering and counter-terrorism financial supervisory regime. To read more: https://lnkd.in/d75pgFP6 Know about the product: www.prescreening.io #moneylaundering #compliance #antimoneylaundering #prescreening #subjectmatter #amlcft #riskbasedsupervision #riskassessment #spss #hmrc #fca #wolfsberg
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The Caribbean Financial Action Task Force (CFATF) published its 5th Enhanced Follow-up Report and Technical Compliance Re-Rating for #Barbados during its June plenary session held in Trinidad and Tobago. The report assesses Barbados' progress in addressing strategic deficiencies identified in its 2017 mutual evaluation on anti-money laundering (AML) and counter-terrorist financing (CFT) measures. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #cfatf
Barbados Anti-Money Laundering and Counter-Terrorist Financing Measures
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Business Development Manager, Nobel Trust Ltd | Co-Founder Gardens of the Future | Co-Founder eleven eleven | Consulting | TEDx Organiser
#AML package adopted by the Council of the #EU; the regulationย "harmonises anti-money laundering rulesย for the first time throughout the EU, closing loopholes for fraudsters", it extends AML rules to "new obliged entities, such as most of the #crypto-sector, traders of #luxury goods and #football clubs and agents".
The Council of the EU adopts the AML package. The new legislative package transfers all private sector anti-money laundering and counter-terrorism financing (AML/CFT) rules to a directly applicable regulation, while a directive will handle the organization of national authorities fighting these crimes. ๐ Find out more in our recent article ๐ https://lnkd.in/dp5eFTbT #nobeltrust #nobel #nobelhellas #EU #council #directive #AML #CFT #consulting #companies #Cyprus
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Did You Know? The Executive Office of Anti-Money Laundering and Counter-Terrorism Financing was established pursuant to Cabinet resolution no. 10 of 2021, and among its tasks is to oversee the implementation of the National AML/CFT Strategy and the National Action Plan and coordinate the NRA process to identify
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The U.S. government continues to focus on the use of digital assets for illicit means. While AML rules have traditionally applied to actors in the financial sector, some of which have applied to companies in the digital asset industry, we expect to see additional rules and regulations addressing illegal use. Companies should ensure compliance with current AML and counterterrorism rules and regulations, and should be prepared to take additional action in the future.
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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