Money Laundering, Regulation and Compliance

On 16 November 2023, the Financial Action Task Force (FATF) updated its best practices on combating the abuse of non-profit organisations (NPOs). The update follows the revisions that the FATF made earlier this year to Recommendation 8 that aim to protect NPOs from potential terrorist financing abuse through the effective implementation

On 1 November 2023, the Financial Action Task Force (FATF) published a report on crowdfunding for terrorism financing.

The majority of crowdfunding activity is legitimate, but events around the world have demonstrated that it can also be exploited for illegal purposes. This includes terrorists and terrorist groups who exploit fundraising platforms and crowdfunding

On 7 September 2023, the Financial Stability Board (FSB) and the International Monetary Fund (IMF) published a joint synthesis paper on policies for crypto-assets.

The report synthesises the IMF’s and FSB’s policy recommendations and standards. The report illustrates macroeconomic and financial stability implications of crypto-asset activities, how they may interact, and

On 30 June 2023, the Financial Action Task Force (FATF) launched a public consultation on the revision of Recommendation 8 and its interpretive note.

The FATF is considering proposals for draft amendment text to Recommendation 8 of the FATF Standards and its interpretive note (R.8/INR.8), which aims to protect non-profit organisations

On 27 June 2023, the Financial Action Task Force (FATF) published a report, Targeted update on implementation of the FATF standards on virtual assets and virtual asset service providers.

In October 2018, the FATF updated Recommendation 15 (R.15) to extend anti-money laundering / countering the financing of terrorism (AML/CFT

On 26 June 2023, the Financial Action Task Force (FATF) published the outcomes from the FATF Plenary, which took place on 21-23 June 2023.

Delegates from over 200 jurisdictions of the Global Network and observers from international organisations participated in these discussions at the FATF headquarters in Paris.

The outcomes of the discussions

On 17 April 2023, the Wolfsburg Group published an updated version of its anti-bribery and corruption compliance programme guidance.

The publication is designed to provide guidance to the financial services industry on how to develop, implement and maintain an effective anti-bribery and corruption (ABC) compliance programme, and should be read in conjunction

On 10 March 2023, the Financial Action Task Force (FATF) published updated Recommendations which were adopted at its plenary on 15 February 2023. The FATF has reviewed and updated the FATF Recommendations, in close co-operation with the FATF-Style Regional Bodies (FSRBs) and the observer organisations, including the International Monetary Fund, the

On 14 March 2023, the Financial Action Task Force (FATF) published a report on countering ransomware financing.

The report analyses the methods that criminals use to carry out their ransomware attacks and how payments are made and laundered. The report highlights that criminals are almost exclusively using crypto, or virtual assets and have

On 10 March 2023, the Financial Action Task Force (FATF) published updated guidance that focuses primarily on Recommendation 24 (beneficial ownership transparency of legal persons). In March 2022, the FATF agreed on tougher global beneficial ownership standards in its Recommendation 24 by requiring countries to ensure that competent authorities have access to adequate