On 20 February 2017, the Joint Committee of the European Supervisory Authorities (ESAs) (that is, the EBA, EIOPA and ESMA) published an opinion (JC/2017/07), addressed to the European Commission, on the risks of money laundering and terrorist financing affecting the EU’s financial sector. Read here  The aim of the opinion is to inform the Commission’s […]

IMF staff regularly produces papers proposing new IMF policies, exploring options for reform, or reviewing existing IMF policies and operations. The following documents have been released and are included in this package: The Staff Report on the Review of the Fund’s Strategy on Anti-Money Laundering and Combating the Financing of Terrorism, was prepared by IMF […]

The inherent risk of money laundering and terrorist financing can be lower in the life insurance sector relative to some other sectors, but life companies need to be cognisant that there are products, customers and geographic regions that present a higher risk. So reads the Press Office communication just received (Tuesday 8th March 2016) from the […]

The Monetary Authority of Singapore (MAS) has published revised notices to financial institutions on anti-money laundering and countering the financing of terrorism (AML/CFT). The revisions are benchmarked against international best practices and the latest recommendations of the Financial Action Task Force. Key changes to the AML/CFT notices include: requiring more comprehensive enterprise-wide AML/CTF risk assessment […]

The Basel Committee on Banking Supervision has published a set oguidelines on how banks should include anti-money laundering (AML) and counter-terrorist financing (CTF) risks in their overall risk management programmes. The guidelines are consistent with the International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation issued by the Financial Action Task Force (FATF) in 2012 and supplement their […]