The government of Malta has published its action plan to drastically improve AML safeguards and financial compliance duties that have plagued the country’s status as a financial services hub. The action-plan has been required by the Financial Action Task Force (FATF) of the G7, which this summer placed Malta on its ‘grey-list’ of untrustworthy financial jurisdictions. An FATF evaluation of …
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UKGC recommends FATF guidance to safeguarding risk-based supervision
The UK Gambling Commission (UKGC) has prompted operators to review the Financial Action Task Force’s (FATF) updated AML guidance with regards to safeguarding their customers’ risk-based supervision approach. Established in 2001 by the G7, the FATF serves as the financial crime and anti-terrorist financing unit responsible for developing intergovernmental cooperation to combat the growing threat of international money laundering. The …
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