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The Financial Action Task Force (FATF) aims to establish standards and promote the effective legal and operational implementation of measures to combat money laundering and terrorist financing. To achieve this, FATF introduced the 40 Recommendations. In this article, we analyze Recommendation 4 on confiscation and provisional measures.
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The Recommendations of the Financial Action Task Force (FATF) are crucial guidelines for preventing money laundering and terrorist financing. In this article, we will explore FATF Recommendation 3, which mandates the criminalization of money laundering.
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The FATF Recommendations are guidelines that countries must implement to prevent money laundering and terrorist financing. In this article, we will examine FATF Recommendation 2, which urges countries to promote national cooperation and coordination.
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The FATF Recommendations are international standards set by the FATF to combat money laundering and terrorist financing, which countries must implement within their territories. In this post, we will analyze FATF Recommendation 1, which calls on countries to identify, assess, and understand their exposure to money laundering and terrorist financing risks.
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In due diligence processes, once we have verified the identity of our clients, we must gather information about the purpose and nature of the business relationship, as well as additional documentation. This is where the search for adverse news comes into play.
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In previous posts, we discussed the importance of adverse news in due diligence processes, as well as in the internal procedures of obligated entities. Therefore, today we are going to analyze OCCRP — Organized Crime and Corruption Reporting Project — and the impact their investigations have generated.
Continue reading “OCCRP and the fight against organised crime”
At the end of last year, the FATF published its 2020-2021 annual report. This report covers all the work carried out under the German presidency of the FATF, as well as the future objectives the organization will address.
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Currently, there are numerous entities involved in preventing money laundering. In previous posts, we have discussed the FATF, the Wolfsberg Group, and the European Banking Authority. In this article, we will analyze the role of MONEYVAL in preventing money laundering and terrorist financing.
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On January 30, the European Banking Authority (EBA) launched its database for combating money laundering and terrorist financing, accompanied by a draft of regulatory technical standards submitted to the European Commission.
Continue reading “EuReCA, the new database of the Banking Authority”
There are various entities involved in the prevention of money laundering and terrorist financing. From intergovernmental organizations like the FATF, to obliged entities responsible for applying preventive measures, and supervisory bodies such as the European Banking Authority. Among the wide range of participants in the prevention process, today we want to examine The Wolfsberg Group.
Continue reading “Wolfsberg Group”