Banks should tighten their anti-money laundering (AML) controls following the charges of money laundering this week against digital currency company Liberty Reserve, industry experts are warning.
New proposals released by the European Commission to reinforce anti-money laundering (AML) regulation will give banks a greater enforcement role, a senior consultant says.
HSBC has revealed it faces a hefty fine – estimated at $1bn by analysts – from US regulators for failing to have the right anti-money laundering controls in place from 2004 until 2010.
The International Compliance Association (ICA) has agreed a partnership with the Capital Market Authority (CMA) of Saudi Arabia to deliver two certificated training programmes in Anti-Money Laundering and Compliance.
The Financial Action Task Force (FATF)’s updated recommendations on anti-money laundering (AML) policies will encourage weaker jurisdictions to tighten their AML laws, especially where tax crime is concerned, according to a financial crime expert.
After 31 years, the Offshore Group of Banking Supervisors (OGBS) has changed its name to the Group of International Finance Centre Supervisors (GIFCS).