Financial Action Task Force

In a Q&A, the head of the apex body of chartered accountants in the UK discusses the challenge of sustainability and other issues her tribe faces across the globe

FATF started out with 16 developed countries as members and added 12 by 1992. It has since expanded to the current list of 39 members

Earlier in February 2020, Democratic People's Republic of Korea (DPRK) and Iran was put on blacklist by the anti-terror financing and anti-money laundering watchdog

The South African government has introduced some urgent changes to its laws to avoid the country being grey-listed by the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog. As a policy-making body, the Paris-based 200-member FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. The Minister of Finance has tabled General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill in Parliament, which will now follow the process of public comments, convening hearings, making amendments and passing the Bill. A statement released by the Treasury said that this demonstrated the commitment of the South African government to Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) and addressing the deficiencies identified by FATF's Mutual Evaluation Report (MER) of South Africa, which was published in October 2021. When enacted into law, it

What is the Prevention of Money Laundering act and how does it affect a nation? Read this article to understand money laundering, the PMLA act, objectives of the PMLA act, FATF and everything

T. Raja Kumar of Singapore has been appointed as the president of Financial Action Task Force (FATF), the anti-money laundering watchdog

This was done after FATF added UAE to the Grey List

The evaluation of India by the Financial Action Task Force (FATF) could start by the end of the year

Creating suspicion about civil society undermines its robustness and contribution to nation building

Inter-governmental body has now authorised its delegates to visit the island nation for an on-site inspection of the progress made

The FATF, the global body against money laundering and terror financing, is likely to carry out an evaluation of India's established mechanism to deal with such financial crimes later this year.

The country was put on the list of jurisdictions that require increased monitoring in February

Bank of Mauritius has written to its Indian counterpart, explaining the mechanism by which investments are greenlighted via the country, and highlighted importance of Mauritius as an investment hub

PE, VC funds domiciled in the island nation on the radar

Move to benefit investors from countries and regions like Mauritius, Cayman Islands who are eyeing Category-I licence

Experts say what will also play on the minds of policymakers is the potential upside of taxing the cryptocurrency trade.

In a report, Moody's Investors Service said the announcement is credit negative for Pakistani banks

Currently, Indian companies tap foreign capital mostly through American depository receipts or global depository receipts

According to FATF, if Pakistan fails to meet the implementation of the 27-point plan, the country could be blacklisted

This, upon withdrawal of objections by China and GCC countries