ANTI-MONEY LAUNDERING COMPLIANCE2018-09-19T14:46:24+00:00

ANTI-MONEY LAUNDERING COMPLIANCE

Meaning and Application of Risk-Based Approach

In Chapter 2.12, FATF 40 Recommendations and Chapter 10.3, Risk-Based Approach and MER Comparison, First Edition, Money Laundering – A Handbook for CDD Compliance enlightens the objective of Risk-Based Approach (“RBA").   RBA is a concept adopted by the FATF [...]

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Consultative Group to Assist the Poor

In 1995, under the leadership of Ismail Serageldin and a group of 10 donor agencies, set up the Consultative Group to Assist the Poor (“CGAP”) under the umbrella of the World Bank.  CGAP is an independent organisation with an aim [...]

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Terrorism and Terrorist Financing

Which is the UN treaty deals with Terrorism and Terrorist Financing? The following are the UN terrorism-related treaties: 1963 Convention on Offences and certain other Acts Committed on Board Aircraft 1970 Convention for the Suppression of Unlawful Seizure of Aircraft [...]

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About Money Laundering

What does Money Laundering mean today? In Chapter 4, Money Laundering, First Edition, Money Laundering – A Handbook for CDD Compliance enlightens the meaning of money laundering with the exhibit of Diagram 10, The Money Laundering Cycle Diagram.  In a [...]

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Organised Crime Group

How the mafia, triad and gang finance their activities? In this modern society, the term “secret societies” no longer in use.  Triad became popular in the Asia and South East Asia regions.  Whether they are called mafia, triad or gang, [...]

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About the Financial Action Task Force (“FATF”)

Why Countries join the Financial Action Task Force (“FATF”)? FATF is an inter-government body; an organisation opens to all countries who wish to participate in the fight against money laundering and terrorist financing.  Majority of countries joined the FATF are [...]

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