That the United States and the United Kingdom have escaped censure from intergovernmental AML groups is a sign of double standards in the international compliance community, says Nicolas Ryder, author of an upcoming book on money laundering.
The Financial Action Task Force is weighing whether to ask jurisdictions to loosen their privacy laws and require companies to retain data on their owners, among other changes to the group's standards.
An expected decision on whether to include Argentina on an intergovernmental list of jurisdictions with poor compliance controls will depend on the country's willingness to enforce its new laws, say analysts.
More than a dozen governments are working with the Financial Action Task Force to draft guidance on how to identify financial transactions tied to human trafficking, say individuals familiar with the matter.
Eleven jurisdictions have yet to make "significant progress" on improving their anti-money laundering regimes despite having had six months to more than a year to do so, an intergovernmental watchdog said Monday.
Caribbean countries must do more to implement global anti-money laundering standards and cooperate with other nations to combat financial crime, the head of an intergovernmental anti-money laundering watchdog said Thursday in a speech that also targeted its Caribbean affiliate.
An intergovernmental group said Wednesday that it was considering asking countries to make tax evasion a predicate crime of money laundering and to issue tougher AML standards on political figures.
An intergovernmental group Friday added seven countries to its lists of jurisdictions that have failed to follow through on plans to clamp down on money laundering.
Governments should ramp up their efforts to investigate and prosecute money launderers, including by providing additional powers and resources to local law enforcement, an international watchdog group said.
An influential international anti-money laundering group may request that its members pass legislation tying tax evasion to money laundering as part of an effort to to pierce Swiss bank secrecy.
Governments should bolster their asset forfeiture laws and look closely at the cross-border movement of bearer negotiable instruments, an intergovernmental group that advises on anti-money laundering efforts said last week.
An international watchdog group said Friday that it will respond to Group of 20 calls for the reinstitution of a blacklist naming jurisdictions with weak anti-money laundering controls.
FATF's new president talks to reporter Larissa Bernardes about the organization's plans to revisit its 40 + 9 recommendations and address emerging money laundering threats.
The Paris-based Financial Action Task Force (FATF) said Thursday that the global financial community should regard transactions involving Iran, Uzbekistan, Pakistan, Turkmenistan, Northern Cyprus and São Tomé and Príncipe as high risks for money laundering.