Understanding Blockchain technology and the encrypted information within it could potentially help regulators find the powerhouses behind money laundering, trafficking, and terrorism. Illicit activities can be pursued through cryptocurrency transactions involving Bitcoin, Ether, and other digital currencies, and blockchain technology… Read more >
Due to tax evasion, money laundering and the flow of illegal funds, Africa is bleeding $50 billion every year which is a great concern to The United Nations (UN) and African Union (AU). This issue was addressed during the second… Read more >
The Central Bank of Nigeria (CBN) has released a stricter regime for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) that will impose fines on banks, their directors and other key officials for 48 money laundering infractions whereas… Read more >
On April 17, 2018, a money laundering and terrorist financing (ML&TF) national risk assessment (NRA) workshop was held at the Central Bank of Liberia. Coordinated by Liberia’s Financial Intelligence Unit (FIU), the purpose of the NRA is to identify any… Read more >
In an effort to counter fraud, Portugal enacted a new UBO legislation (Law 89/2017) in August 2017 which lays down measures to combat money laundering and terrorist financing. Portugal is looking into options surrounding the management and recording of Ultimate… Read more >
Dr. Miftah Ismail, Adviser to the Prime Minister on Finance, and Ambassador Alice G. Wells, US Acting Secretary of State for South and Central Asian Affairs, met recently to discuss the steps on how Pakistan plans on fighting money laundering… Read more >
In an effort to reduce money laundering and criminal and terrorism funding, the Anti-Money Laundering Council (AMLC) of the Philippines has made amendments to the AMLC Registration and Reporting Guidelines (ARRG). The amendments were approved by the government on December… Read more >
In 2007, China’s anti-money laundering (AML) law became effective, improving supervision. However, the system still had inefficiencies, leaving a gap between China’s international participation in this field and its international status. By 2020, the State Council, China’s cabinet, expects to… Read more >
In August, Habib Bank Ltd (HBL), was fined a record $630 million for a Pakistani financial institution by the New York State Department of Financial Services (DFS) for noncompliance with state and federal anti-money laundering (AML) laws at its U.S…. Read more >