UAE added and Pakistan kept on FATF grey list
The UAE is the only new jurisdiction to have been put on the Financial Action Task Force (FATF) ‘grey list’ of countries at the global financial watchdog’s plenary meetings last week. The emirates are now actively working with the task force to address strategic deficiencies…
FATF seeks financial institution and other stakeholder views as it mulls changes to international standards on beneficial ownership
The Financial Action Task Force (FATF) is seeking the views of financial institutions and a range of other organisations and experts on its newly published white paper for public consultation on the transparency and beneficial ownership of legal persons. The FATF’s objective is to strengthen…
Haiti, Malta, Philippines and South Sudan added to FATF grey list, Ghana removed
Haiti, Malta, Philippines and South Sudan have been added to the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring the task force announced at the end of its plenary session on 25 June. Ghana is the only country to be removed from…
FATF seeks views of financial institutions in public consultation on its Guidance on proliferation financing risk assessment and mitigation
The Financial Action Task Force (FATF) is seeking views, primarily from financial institutions and designated non-financial businesses and professions (DNFBPs) in its development of Guidance to help both public and private sectors implement new requirements to identify, assess, understand and mitigate proliferation financing risk. The…
FATF introduces measures to detect shell companies associated with WMD proliferation financing risks
Financial institutions (FIs) and firms operating in designated non-financial business or professions (DNFBPs) should receive improved flows of information on proliferation of weapons of mass destruction (WMD) financing risks that can be used to detect shell companies once new amendments approved by the Financial Action…
