FATF report on Trade Based Money Laundering ; A Summary
Criminals are very creative with the different methods they adopt for laundering money. FAFT recently launched a report, which was published on December 9, on Trade based money laundering (TBML). What is TBML?
Understanding Ultimate beneficiary Ownership and more!
What is a beneficial owner?
What is MiFID II?
The Markets in Financial Instruments Directive (MiFID) is the EU legislation which was originally adopted in 2007. It governs the buying, selling and trading by investment mediators that provide services to clients linked to ‘financial instruments’. ‘Financial instruments’, in this scenario is the collective description for shares, bonds, units in collective investment schemes, derivatives and places where such instruments are
FATF Virtual Assets red flag indicators ; A summary
The FATF released a report on how we can identify and deal with red flags with respect to virtual assets or cryptocurrency. This report highlights a number of red flags such as irregular transactions, anonymous transactions, from senders and receivers and sources of funds of the crypto users.
Everything you need to know about 6AMLD!
We talked about 5AMLD last year and the changes that were brought forward by this directive. Now after a few months, there have been more reforms to take place with respect to the AML sector from June 2021, when the 6AMLD comes into effect. Some of the changes that 6 AMLD brings about are significant in nature. Let’s take a