Anti-Money Laundering

Politically Exposed Persons (PEPs) and Customer Due Diligence in Asia

Customer Due Diligence in Asia has gained prominence over recent years, with a growing set of regulations that have come into force. International Anti-money laundering standards recommended by the Financial Action Task force (FATF) have provided a framework for member jurisdictions to lay out the requirements for the prevention and combat of money laundering and terrorist financing, which is particularly…

Financial crime risk assessment

Legislation in force to prevent financial crime has become more risk focused, requiring organizations to fully understand the risks their organization faces based on their business model and strategy.

The Fourth EU AML/CTF Directive

This article will focus on one of the most recent initiatives by the EU, which underlines the continued importance of revising and improving existing anti-money laundering/ counter-terrorist financing (AML/CTF) legislative frameworks both within the individual member states and also in a cross-border context in terms of the cooperation between relevant national authorities.

Europe’s upcoming Fourth AML/CFT Directive

In February 2013, the European Commission adopted two proposals: the Fourth AML Directive and a complementary regulation on what information must accompany fund transfers to ensure traceability. The European Parliament’s and European Council’s so-called “draft directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”…