Tag Archives: Financial Action Task Force

The Financial Action Task Force (FATF) has updated its recommendations on how EU member states should conduct risk assessments against anti-money laundering (AML) and countering financing of terrorism (CFT) threats.  New industry-specific recommendations have been provided via the European Commission’s (EC) ‘Supranational Risk Assessment (SNRA) Report’, which was last updated in 2019. Under the EU ‘Anti-money Laundering Directive’ (AMLD) the …

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 …

Malta may have to withdraw its EU sports betting veto in order to pass the Financial Action Task Force’s Moneyval test, conducted due to concerns that the jurisdiction is a financially unsafe area, safeguarding the interests of Europe’s financial and business communities.  The FATF’s decision, based on a report by Moneyval – which serves as the Council of Europe’s anti-money …

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 …