Tag Archive for FATF

The Controversial EU List of High-Risk Third Countries

March 20, 2019

The list of High-Risk Third Countries with strategic AML deficiencies presented by the EU Commission in February 2019 was rejected by the EU Council shortly after. It appears that the country risk assessment has been affected by political considerations.

EU Methodology for Identifying High-Risk Third Countries

July 11, 2018

The 5th EU Anti-Money Laundering Directive, in force as of 11 July 2018, includes amendments to the 4th AML Directive, among them improvements in the assessment of high-risk third countries. Moreover, the EU Commission has recently published a relevant methodology for identifying such countries with strategic deficiencies in combating money laundering and terrorist financing.

The 4th EU AML Directive: Recommendations to help your business prepare

April 27, 2016

Following adoption of the new Anti-Money Laundering (AML) Directive by the European Union, member states must now implement the required changes in their domestic legislation. Our tip sheet highlights the key changes and includes practical advice on what your company can do to prepare.

Maintaining Caution – The Enduring Risks Associated with Iran

February 23, 2016

Although most sanctions against Iran have been lifted, a number of serious risks still remain when conducting business with Iran.

Enhanced due diligence is a must to mitigate AML exposure in Turkey

September 9, 2012

Despite high levels of political commitment on the part of the Turkish government, it remains on the FATF’s list of countries that have not made sufficient progress in addressing deficiencies identified.

Reinforcing Integrity Risk Management – “Customer Due Diligence” Requirements Reworked

July 4, 2012

One of Risk Management’s most important cogwheels, for the purpose of investigating and detecting a wide range of reputational risks and economic crimes, is the due diligence process. As described in former articles published on Global Risk Affairs, due diligence requirements are largely anchored in legislation dealing with the prevention of money laundering, fraud, corruption…

Indonesia’s Efforts to combat money laundering

December 22, 2011

Although effective in its battle against Islamic terrorism, Indonesia is still closely monitored by the FATF, and is having problems controlling its illegal timber trade.

Integrity Due Diligence – Towards an integrated approach to Compliance (I)

September 29, 2011

The serious impact and long-term effects of economic crimes, such as money laundering, corruption and fraud (‘MLFC’), may not seem to be as apparent as those resulting from hard security threats. These crimes do, however, pose some of the most menacing risks currently facing governments, institutions and corporations. The following article aims to discuss an…