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
May 2023
This month’s highlights include:
The International Monetary Fund (IMF) released a book called ‘Countering the Financing of Terrorism: Good Practices to Enhance Effectiveness’, with insights from the Egmont Group of Financial Intelligence Units, INTERPOL, Europol, and the United Nations. The book covers topics such as the role of the private sector, sanctions, and international cooperation.
The European Banking Authority (EBA) launched a public consultation on proposed amendments to its guidelines on money laundering and terrorist financing risk factors. The changes will extend the scope of these guidelines to crypto- asset service providers (CASPs).
The UK government has announced its new fraud strategy, focusing on three principles: stopping scams from reaching people in the first place, bringing more fraudsters to justice, and empowering people to better protect themselves.
What other publications and regulatory changes caught your eye in May? 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