Tag Archives: terrorist financing

Save our SARs

Posted on October 28, 2020 by ihatemoneylaundering

I am a fan of the philosophy of SARs: I think it is correct that businesses handling client money should be obliged to report to the authorities if they suspect that that money is the proceeds of crime or connected … Continue reading →

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The word from on high

Posted on October 7, 2020 by ihatemoneylaundering

Right, let’s get ready for a quick test of AML TLA [three-letter acronym]: what do the RBA, BRA, RAS and NRA all have in common?  Bravo for shouting out “the letter R” – standing, of course, for Risk.  As in: … Continue reading →

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Maman’s the word

Posted on October 23, 2017 by ihatemoneylaundering

I know that AML and CFT go together.  I’m not convinced that they belong together, but I am swimming against the tide, which seems to favour putting all financial crime into the same category.  And so I am careful to … Continue reading →

Posted in Due diligence, Terrorist financing | Tagged , , , , | 8 Comments

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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Lifelong learning

Posted on April 27, 2015 by ihatemoneylaundering

One of the benefits of the AML/CFT mutual evaluation regime is its reiterative nature – the fact that countries are visited, given a report with suggestions for improvement, and then revisited.  Between visits, governments submit progress reports to keep the … Continue reading →

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The path paved with bad intentions

Posted on June 10, 2013 by ihatemoneylaundering

Last week it was announced that Florindo Flores – better known as Comrade Artemio, the last original leader of the Peruvian communist party (Sendero Luminoso, or Shining Path) – had been sentenced by a court in Lima to life in … Continue reading →

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Clandestine legislation

Posted on May 3, 2013 by ihatemoneylaundering

There I was on Thursday morning, my whole day carefully planned ahead of me (including two McVitie’s dark chocolate digestives at elevenses – something to aim for), when wham!  I opened a news feed and there, nestled unobtrusively in its … Continue reading →

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Fowl play

Posted on March 4, 2013 by ihatemoneylaundering

What do you call a turkey that steps back from the precipice?  A wise old bird, that’s what. Long story short, at the October 2012 meeting of the Financial Action Task Force, a statement was issued about Turkey and its … Continue reading →

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