News & Analysis as of

Money Laundering Financial Services Industry FATF

A&O Shearman

Revised FATF AML and CTF standards to better promote financial inclusion

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The Financial Action Task Force (FATF) has published an updated version of its anti-money laundering (AML) and counter-terrorist financing (CTF) standards after the February FATF Plenary approved changes to Recommendation 1...more

A&O Shearman

UAE's enhanced AML and CTF Regime: a journey from grey list to compliance

A&O Shearman on

The UAE has continued to implement significant legislative and structural reforms during 2024 in areas including financial crime compliance, whistleblowing, and virtual assets regulation. These improvements demonstrate the...more

A&O Shearman

HM Treasury Updates High-Risk Third Countries List under Money Laundering Regulations

A&O Shearman on

HM Treasury has updated its money laundering advisory notice on high-risk third countries. Under the U.K. Money Laundering Regulations, the U.K. regulated sector must apply enhanced customer due diligence in relation to...more

A&O Shearman

The UAE clamps down on money laundering with amendments to AML laws and its national strategy

A&O Shearman on

The UAE announced a new ‘National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing for 2024 – 2027’ (the National Strategy) in September 2024. This will affect not only UAE...more

Walkers

Global Legal Insights Fintech 2024: Jersey chapter

Walkers on

Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency. Originally...more

Cadwalader, Wickersham & Taft LLP

EU AML List Will Add The Cayman Islands

On February 21, 2022, Commission Delegated Regulation was published in the Official Journal of the European Union which will add the Cayman Islands to the list of countries that have been identified by the European Commission...more

Goodwin

FinCEN Warns Against Evasion of Russian Sanctions

Goodwin on

In this Issue. The Financial Crimes Enforcement Network (FinCEN) published an alert warning financial institutions of possible efforts to evade U.S.-imposed sanctions on Russia and Belarus; the U.S. Department of the Treasury...more

Hogan Lovells

Financial institutions general regulatory news, March 2021 # 2

Hogan Lovells on

Future of UK financial services: Treasury Committee inquiry written evidence - The House of Commons Treasury Committee has published written evidence to the committee's inquiry into the future of financial services in the...more

Hogan Lovells

FCA sets out approach to AML crypto supervision

Hogan Lovells on

A Director of Enforcement at the Financial Conduct Authority (FCA)  has set out some of the key challenges the regulator expects in its new role as AML/CTF (anti-money laundering/counter terrorist financing) supervisor for...more

A&O Shearman

Financial Action Task Force Publishes Outcomes Of Its February 2019 Plenary Meeting

A&O Shearman on

The Financial Action Task Force has published the outcomes from its Plenary meeting that took place in Paris on February 20-22, 2019. The FATF considered key issues such as the operations and streamlining of the FATF, major...more

Ballard Spahr LLP

FATF Evaluates the UK’s and Israel’s AML/CTF Programs and Welcomes Israel as its 38th Member

Ballard Spahr LLP on

On December 7 and 10, 2018, the Financial Action Task Force (“FATF”) released two reports evaluating the United Kingdom’s (“UK”) and Israel’s anti-money laundering (“AML”) and counter-terror financing (“CTF”) programs and...more

Foodman CPAs & Advisors

Gatekeepers are under a lot of Stress!

The FATF is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering (AML), terrorist financing and financing of weapons of mass destruction. ...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - New York Department of Financial Services Promulgates First-in-the-Nation State Cybersecurity Regulation - On February 16, 2017, the New York Department of Financial Institutions...more

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