Compliance Practice
Practical guidance for professionals responsible for AML/CFT compliance. This section covers customer due diligence, identity verification, beneficial ownership, risk assessment, enhanced due diligence, screening, ongoing monitoring, suspicious transaction reporting and compliance record keeping.
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UAE SME Banking Rules Take Effect With AML Due Diligence Override
The UAE’s new SME Customer Protection Regulation takes effect on 13 September 2026, linking faster low-risk account opening with explicit AML/CFT due diligence and financial…
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BSP Calls on Financial Institutions to Support Philippines’ 2027 FATF Mutual Evaluation
The Bangko Sentral ng Pilipinas (BSP) has called on banks and other BSP-supervised financial institutions to support preparations for the Philippines’ next anti-money laundering and…
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CBN Elevates Terrorism Financing Supervision to Current Priority
The Central Bank of Nigeria (CBN) has elevated terrorism financing supervision to a current supervisory priority, placing greater attention on how regulated financial institutions identify,…
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SEC Fines Haywood Securities USA $750,000 for AML and SAR Failures
The U.S. Securities and Exchange Commission has censured Haywood Securities (USA) Inc. and imposed a $750,000 civil penalty over failures in its anti-money laundering controls…
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Bank of Thailand Launches Sector-Wide Framework to Block Illicit Financial Transactions
Thailand’s central bank and 11 financial-sector associations have launched a cooperation framework focused on preventing illicit transactions, strengthening information sharing and improving financial-crime controls.
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India FIU Issues PMLA Notices to 15 Offshore Crypto Platforms
India’s Financial Intelligence Unit (FIU-IND) has issued non-compliance notices to 15 virtual digital asset service providers under Section 13 of the Prevention of Money Laundering…
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Bank of Italy Reinforces Sanctions Screening Across Funds and Crypto Transfers
The Bank of Italy has issued a supervisory communication reminding regulated intermediaries to ensure that their controls can identify customers, relationships and transactions connected to…
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New Zealand Updates Money Laundering Risk Assessment for Accountants
New Zealand’s Department of Internal Affairs (DIA) has published a new sector risk assessment setting out the money laundering, terrorism financing and proliferation financing risks…
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US Regulators Clarify Use of Mobile Digital IDs for Customer Identification
U.S. financial regulators have clarified how banks and other covered financial institutions may use mobile driver’s licences and other verifiable digital credentials when verifying the…
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FinCEN Flags Iranian Commercial Aviation Procurement Networks and Sanctions-Evasion Risks
The U.S. Financial Crimes Enforcement Network has issued an alert warning financial institutions about Iranian efforts to procure aircraft, components and related services for the…
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