Home AML Page 704

AML

The home category to host all the sub categories

When it comes to trying to avoid getting caught up in the proliferation of anti-corruption legislation worldwide, the Royal Bank of Canada is opting to follow the U.K. Bribery Act and embedding it as part of its global anti-money laundering process. “When the U.K. Bribery Act came out we decided...
Kyiv, November 1, 2011. As an outcome of the Plenary meeting of the Financial Action Task Force, FATF recognized Ukraine’s significant progress in improving its strategic anti-money laundering and combating the financing of terrorism (AML/CFT) regime. Therefore, the intergovernmental body stated that Ukraine was no longer subject to FATF’s...
AHMEDABAD: There is something more than that meets the eye with financial transactions in the state. According to a recently released report buy union finance ministry's Financial Intelligence Unit (FIU), Gujarat has generated the fourth highest number of reports relating to dubious banking transactions in the last four financial...
The economic turmoil and financial crises of 2008 fueled a surge in financial fraud. The International Monetary Fund (IMF) estimates that money laundering amounts to somewhere between hundreds of billions of dollars to more than a trillion dollars per year, or two to five percent of the world’s Gross...
Why do people need more money? This is because, the modern lifestyle believes in achieving luxurious living conditions and the way towards such achievements is relatively complicated. When such goals ensue, people become more and more desperate for money and this becomes the driving force behind the modern society. Therefore,...
Paris, 28 October 2011 - As part of its on-going review of compliance with the AML/CFT standards, the FATF has to date identified the following jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF. While the situations differ among each jurisdiction, each...