Tag Archives: Financial Action Task Force

Making AML count

Posted on November 27, 2019 by ihatemoneylaundering

One of the most common requests I hear when designing AML training for clients is for case studies (which I have blogged about recently) and for “lessons learned”.  Alongside this, we have regulators regularly reminding us that their final notices … Continue reading →

Posted in AML, Money laundering, Publications | Tagged , , , , , , , , , , , | 5 Comments

The law(yer) is an ass

Posted on August 7, 2019 by ihatemoneylaundering

AML efforts tend to move in one direction: more, greater, stronger, bigger – whatever the right adjective may be.  Occasionally we see an unwinding (as when many jurisdictions removed general insurance business from the AML family) but for the most … Continue reading →

Posted in AML, Money laundering | Tagged , , , , , , , , , , , , , | 4 Comments

FATF 1, EU 0

Posted on July 17, 2019 by ihatemoneylaundering

The Fourth Money Laundering Directive brought us many delights, including Article 9: “Third-country jurisdictions which have strategic deficiencies in their national AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’) shall be identified … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , , , , , , | 5 Comments

Facecrook?

Posted on July 10, 2019 by ihatemoneylaundering

Here’s what I have read about Facebook Libra: According to the Financial Times, it is “a new global digital currency backed by assets and supported by more than two dozen companies ranging from Visa and Mastercard to Lyft and Spotify”. … Continue reading →

Posted in AML, Money laundering, Regulation, Supervision, Terrorist financing | Tagged , , , , , , , , , , , , | 5 Comments

Too much of a bad thing

Posted on April 3, 2019 by ihatemoneylaundering

Please may I distract you from the festering plague sore that is Brexit by drawing your attention instead to something we Brits do rather well, which is AML supervision.  In fact we’re so good at this that we have dozens … Continue reading →

Posted in AML, Money laundering, Supervision | Tagged , , , , , , , , , , , , | 7 Comments

Big worries about small accounts

Posted on November 15, 2017 by ihatemoneylaundering

The news has been full in recent days of the financial activities of the “super-rich” and fiscally sophisticated.  (That’s my phrase, that last bit, but I can imagine it catching on.  Who knows: we might even start talking about the … Continue reading →

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Curiosity might save the cat

Posted on January 23, 2017 by ihatemoneylaundering

One of the management buzz-phrases that seems to be staying the course is “tone from the top”.  In the world of AML, the tone from the top has in fact originated at the bottom: first we had MLROs beating the … Continue reading →

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Who’s on the FATF’s naughty step?

Posted on July 1, 2016 by ihatemoneylaundering

So the FATF’s latest take on their list of naughty countries – or, more properly, those jurisdictions with strategic AML/CFT deficiencies – is out.  Their latest plenary meeting, this time in Busan in Korea, ended on 24 June 2016, and … Continue reading →

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Credit where credit is due

Posted on March 14, 2016 by ihatemoneylaundering

I’m about to get onto my soap-box again, so you have been warned.  Last week I mentioned the recently-published INCSR 2016, with its summaries of jurisdictions of primary money laundering concern.  In a comment on that, a Guernsey reader has … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , , , , | 4 Comments

Joining the club

Posted on February 29, 2016 by ihatemoneylaundering

There is always plenty to consider after an FATF plenary meeting, and the most recent one is no exception.  At their end of their meeting in Paris on 19 February, the FATF announced two additions to their membership: Malaysia has … Continue reading →

Posted in AML, Money laundering | Tagged , , , , , , , | 2 Comments