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In June, a new directive was published on the prevention of money laundering and terrorist financing. This Directive stems from the legislative package presented by the European Commission in 2021; these legislative initiatives included drafts of the present Directive as well as the new European Regulation on the Prevention of Money Laundering and Terrorist Financing.
Continue reading “Sixth Anti-Money Laundering Directive”
In May 2023, the European Regulation on crypto-asset markets, known as MiCA — short for Markets in Crypto-Assets — was published. This European regulation aims to establish uniform rules for cryptocurrency service providers.
Continue reading “MiCA and the prevention of money laundering”
One of the key objectives of the Financial Action Task Force is to establish guidelines and promote effective legal and operational measures to combat money laundering and terrorist financing. To achieve this, GAFI promulgated the 40 Recommendations. In this article, we will analyze the fifth recommendation, which addresses the criminalization of terrorist financing.
Continue reading “5th FATF Recommendation”
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.
Continue reading “4th FATF Recommendation”
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.
Continue reading “3rd FATF Recommendation”
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.
Continue reading “2nd FATF Recommendation”
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.
Continue reading “1st FATF Recommendation”
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.
Continue reading “Adverse news on due diligence”
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.
Continue reading “FATF Annual Report 2020-2021”