Tag: Anti-money laundering

Balancing transparency and legitimate confidentiality: insights from the OECD Forum

This week the OECD Global Anti-Corruption & Integrity Forum in Paris brought together public and private sector stakeholders from all over the globe. They had the shared aim of collaborating to enhance safeguards in an evolving global landscape around anti-corruption, anti-money laundering, fraud prevention and public integrity systems. A clear message from the Forum was… Read More Balancing transparency and legitimate confidentiality: insights from the OECD Forum

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Anti-Money Laundering Europe symposium

On Thursday 11 April 2024, Anti-Money Laundering Europe (AME) hosted a symposium at the European Parliament in Brussels about the European Union’s (EU) new Anti-Money Laundering package. Under this package, the EU will establish a new Anti-Money Laundering Authority that will have supervisory powers over national financial institutions. The package aims to strengthen cooperation on… Read More Anti-Money Laundering Europe symposium

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Update on recent FATF and OECD forums to tackle financial crime

There have been two opportunities this month for our industry to come together and address emerging challenges of evolving financial crime. The Organisation of Economic Cooperation & Development (OECD) held its Global Anti-Corruption and Integrity Forum in Paris on the 25th anniversary of the signing of the OECD Anti-Bribery Convention. This was followed by the… Read More Update on recent FATF and OECD forums to tackle financial crime

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FATF’s adopted amendments to Recommendation 24

Tooth wheel mechanism with MONEY LAUNDERING letters imprinted on metal surface

The Financial Action Task Force (FATF) announced a public consultation of its review of Recommendation 24 in 2020. STEP attended multiple public and private meetings with FATF to discuss the potential amendments to the regime. The overarching objective of the review is to strengthen the measures in place and mitigate the obstacles to transparency and risks… Read More FATF’s adopted amendments to Recommendation 24

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FATF invites STEP to discuss potential revision of Recommendation 25

Tooth wheel mechanism with MONEY LAUNDERING letters imprinted on metal surface

The Financial Action Task Force (FATF) is conducting a review of Recommendation 25, which covers the transparency and beneficial ownership of legal arrangements. The FATF’s objective is to improve Recommendation 25 and its Interpretive Note to meet its overall objective of preventing the misuse of legal arrangements for money laundering or terrorist financing. The FATF… Read More FATF invites STEP to discuss potential revision of Recommendation 25

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EU announces Anti-Money Laundering (AML) Package 2021

Tooth wheel mechanism with MONEY LAUNDERING letters imprinted on metal surface

Money Laundering and the efforts of governments to combat it and increase transparency and reporting of ownership globally continue to be a hot topic. One body that has been looking at this area is the European Union, which is in the process of launching its new Anti-Money Laundering (AML) Package 2021. This package was explored… Read More EU announces Anti-Money Laundering (AML) Package 2021

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