CRDF Global’s Post

Combat financial crime with expertise! Join the Anti-Money Laundering Program at the Caribbean Governance Training Institute. Learn essential strategies, regulations, and techniques to safeguard against illicit activities. Join our lead faculty ★ Marcel Mongeon as he helps you secure your organization's integrity and lead with confidence in the fight against money laundering. #CGTI #AMLProgram #FinancialIntegrity

✋ ENGAGEMENT: LAST CHANCE to sign up and join us for a free webinar on 'Financial Crime and the Law: Identifying and Mitigating Risks' Tomorrow night, the Financial Integrity Hub is hosting a webinar on Financial Crime and the Law. Our author experts will be considering the role of the FATF and the application of a risk-based approach to fighting financial crime. All places have been reserved, but you can join the waiting list and we will send you the link to join! Date: 1/08/2024  Time: 6:00-7:00 pm (Sydney). We will hear from: 👉 Charles Littrell: Economic and Demographic Biases in FATF Mutual Evaluation Results 👉 Dr Rachel Southworth and Michael Levi: Application of RBA for Financial Crime Risk Management by Banks 👉 Louis De Koker FATF’s Risk-Based Approach: Has the Pendulum Swung too Far? The panel will be moderated by Isabelle Nicolas, Associate Director of the Financial Integrity Hub. There will be an opportunity for Q&A following the end of all presentations. _____ If you want to see more from the Financial Integrity Hub (#FIH), don't forget to click "+Follow" (top left) to receive notifications for future posts and events. #Financialcrime #AML #CTF #compliance #risks #webinar #financialintegrityhub

📢 The FATF has updated its guidance on #Recommendation25 to enhance #BeneficialOwnership transparency, a move aimed at strengthening global efforts against #MoneyLaundering and #TerroristFinancing. This latest update, building on the February 2023 revision, focuses on practical measures for accurate beneficial ownership information, emphasizing the need for international cooperation to tackle the misuse of complex legal structures for illicit activities. The guidance also highlights the importance of global collaboration in combating financial crimes and underscores the FATF's commitment to improving compliance through upcoming evaluations. A pivotal step forward in the global fight against financial crimes. #FATF #Compliance 🌍✅

  I am delighted to be speaking at the European Anti-Financial Crime Summit on 16 May in Dublin. #EAFCS will feature an incredible agenda and line-up of international speakers. Thanks to AMLintelligence.com for including the critical importance of anti-financial crime training. ComplianceLnD, Compliance Institute, Skillcast Group plc, Stephen Rae, James Treacy, Alisha H., Peter Kiernan, Seán Wade, #compliancetraining, #antifinancialcrime, #moneylaundering, #learninganddevelopment,

❗ 𝐔.𝐒 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧 𝐔𝐩𝐝𝐚𝐭𝐞 2024 ❗ 𝐓𝐡𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐂𝐫𝐢𝐦𝐞𝐬 𝐄𝐧𝐟𝐨𝐫𝐜𝐞𝐦𝐞𝐧𝐭 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 (𝐅𝐢𝐧𝐂𝐄𝐍) is a bureau of 𝐔.𝐒. 𝐃𝐞𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐓𝐫𝐞𝐚𝐬𝐮𝐫𝐲. It was founded in 1990 to fight against financial crimes such as the financing of terrorism, money laundering, and other illegal financial operations. FinCEN plays a crucial role in maintaining integrity of the financial system and protecting it from malpractices. BIOR: Reporting requirement as a part of the U.S. government's efforts to make it harder for malpractice or benefits for their illicit gain through shell companies or other hazy economic ownership structures. #IRS #EA #Social #Network #FinCEN #BIOR #USTaxation #UStaxawareness

💵 Enhancing Preventative Measures for Money Laundering and Corruption 💶 Influential countries need to set high standards to inspire others to follow suit in fighting global financial crimes. This is the conclusion of a policy brief published by The Stimson Center, with the support from the Global Challenges Foundation. Find out more about on how to improve anti-money laundering mechanisms in the post below! What are your conclusions on the right balance between cooperation and enforcement? #corruption #moneylaundering #UNCAC #globalgovernance #finance

The key conclusions from the recent FATF plenary session can be found here: https://lnkd.in/epMY__AJ. It is positive to see that there is an increased push for "Increasing Beneficial Ownership Transparency Globally - FATF Risk-Based Guidance - Recommendation 25 on Beneficial Ownership and Transparency of Legal Arrangements." However, I still believe more work needs to be done in regard to gatekeepers, i.e., notaries, accountants, auditors and lawyers as well as trust and company service providers. Although a large majority of people involved in these areas are honest and ethical, a money launderer only needs to find one or two who are willing to look the other way in order to get what they want. Of course, this is not only the job of FATF, but of country governments and other bodies who are ready and willing to regulate these industries in a more stringent and effective way.

📢New FATF Guidance on Beneficial Ownership and Transparency of Legal Arrangements: In response to the February 2023 revisions to #FATF Recommendation 25 on #Beneficial Ownership and Transparency of #Legal Arrangements, the Financial Action Task Force has released updated #RiskBased guidance to aid in the effective implementation of these requirements. This guidance, designed to complement existing guidelines on Recommendation 24 concerning #Legal persons, aims to equip stakeholders from both the public and private sectors with the necessary tools to navigate the new #Obligations seamlessly. The FATF's guidance offers practical insights into comprehending and evaluating the #MoneyLaundering and #TerroristFinancing risks associated with trusts and similar legal arrangements. It outlines the FATF's requirements for #Obtaining #Accurate, up-to-date beneficial ownership information for express trusts and similar legal setups, along with mechanisms to verify this information. Emphasizing the significance of #Global #Collaboration, the guidance underscores the potential for #Abuse of such arrangements in facilitating cross-border money laundering or terrorist financing. This comprehensive #Guidance, formulated after extensive consultations and engagement with stakeholders, marks a significant step towards enhancing transparency in beneficial ownership worldwide. By strengthening standards and guidance in this area, the #FATF aims to uncover #illicitActivities conducted by #Corrupt actors, #Sanctions evaders, #MoneyLaunderers, and #TaxEvaders who conceal their #Criminal activities through complex structures. The FATF will #Evaluate countries' implementation of these requirements during its forthcoming round of #MutualEvaluations. For the complete details refer to the FATF’s official website (links in the comment section). #FATF #FinancialRegulation #BeneficialOwnership #RiskAssessment

The Malta Financial Services Authority (MFSA) has issued a warning against impostors of MFSA officials. #MFSA #Impostors #FinancialFraud #RegulatoryWarning #Caution #EmailScams #Security #FinancialServices #ScamAlert #ConsumerProtection