FINTRAIL produces a monthly summary of FinCrime regulatory changes and publications. This document covers:
Key updates from global and local regulators
Key updates from industry guidelines
Additional insights identified from financial intelligence units
October 2023
This month’s highlights include:
The Financial Action Task Force (FATF) published a report on the challenges in detecting and preventing terrorist financing through crowdfunding.
The FATF has also removed Albania, the Cayman Islands, Jordan, Panama and Switzerland from its list of jurisdictions subject to increased monitoring, due to those countries’ progress in addressing gaps in their financial crime frameworks.
The European Banking Authority (EBA) has published its 2024 programme of work, which outlines its five key strategic objectives as part of a wider 2024-2026 programme.
The Economic Crime and Corporate Transparency Act 2023 received its royal assent, and has now become law. The Act introduces a number of key reforms to the UK’s anti-money laundering regime.
What other publications and regulatory changes caught your eye in October? If you are interested in speaking to the FINTRAIL team about any of the items in the REG-CAP, have any ideas for inclusion, or want to discuss any other financial crime topic, please get in touch: contact@fintrail.com