December 2011 – February 2012

Aspects of APAC, December 2011 – February 2012

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Being a Financial Action Task Force (FATF) member, Hong Kong is obliged to implement anti-money laundering (AML) requirements promulgated by the FATF, including the 40+9 recommendations. FATF completed a mutual evaluation on Hong Kong's AML regime in 2008, and noted several major deficiencies: Though...
December 2011 – February 2012, Global Financial Crime Review

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Despite Indonesia's overall success in eradicating the country of Islamic terrorists and implementing tougher AML and counter terrorist financing (CTF) laws, it continues to be closely monitored by the Financial Action Task Force (FATF). The country faces particular challenges in combating its large-scale illegal timber...
December 2011 – February 2012, Practical Solutions

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Driven by calls from regulators and the need to find more cost effective ways to comply with regulatory reporting requirements, financial institutions are adopting a risk-based approach to anti-money laundering (AML) and terrorist financing (TF) investigations. A risk-based approach requires a change in mindset and...