Corruption at a standstill says Transparency International
Transparency International’s (TI’s) annual Corruption Perceptions Index (CPI) reveals that corruption levels remain at a standstill worldwide. Corruption is often most acutely felt in developing countries according to TI but it warns that too often it is forgotten that corruption is an international problem which is…
Afghan FIU disconnected from international network against money laundering and terrorist financing
The Financial Transactions and Reports Analysis Centre of Afghanistan (FinTRACA) from has been disconnected from the Egmont Secure Web (ESW) by the Egmont Group of Financial Intelligence Units (FIUs). In a brief statement the Egmont Group said it disconnected the Afghan FIU on 15 August…
Afghanistan’s opium related TBML history and banking uncertainty
International efforts to monitor flows of cash into Afghanistan following its takeover by the Taliban are underway as the new Afghan government must search for financial lifelines now that international funds are cut off. What role trade-based financial crime will play in this current scenario and…
UN agencies finalise framework to measure illicit financial flows
The United Nations Conference on Trade and Development (UNCTAD) and the United Nations Office on Drugs and Crime (UNODC) have finalised a conceptual framework for the statistical measurement of illicit financial flows (IFFs). Pilot projects are either underway or due to commence soon using the new framework…
European Union publishes new list of high risk countries
The European Commission (EC) has published a new annual list of high risk third countries that it believes pose significant threats to the financial system of the European Union (EU) because of failings in tackling money laundering and terrorism financing. The list aims to protect the…
US state department names major money laundering countries for 2018
The US state department has published its 2019 International Narcotics Control Strategy Report (INCSR). It contains a full volume on money laundering activity worldwide that includes an extensive commentary on the growing number of jurisdictions in which trade-based financial crime is becoming an increasing menace….
EU blacklists 23 jurisdictions in fight against money laundering and terror financing
The European Commission has adopted a new list of 23 countries with strategic deficiencies in their anti-money laundering (AML) and counter financing of terrorism (CFT) frameworks. The list has been issued in the wake of EU concerns about a string of major AML/CFT breaches by…
Taiwan dropped from FATF associate’s watchlist
Taiwan has been dropped from a Financial Action Task Force (FATF) associate’s watchlist of Asia-Pacific jurisdictions deemed to have inadequate anti-money laundering controls. A senior Taiwanese official says the island, which is recognised as a global trading hub with a strong export sector, is nevertheless…
FATF updates its list of jurisdictions with AML/CFT deficiencies
The Financial Action Task Force (FATF) has updated its list of jurisdictions containing anti-money laundering and counter financing of terrorism (AML/CFT) deficiencies. The task force has updated two documents categorising certain jurisdictions. Categories The first category identifies jurisdictions subject to FATF’s call for countermeasures or…
FATF updates its list of jurisdictions with AML/CFT deficiencies
The Financial Action Task Force (FATF) has updated its list of jurisdictions containing anti-money laundering and counter financing of terrorism (AML/CFT) deficiencies. The task force has updated two documents categorising certain jurisdictions. Categories The first category identifies jurisdictions subject to FATF’s call for countermeasures or…
