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With seven weeks remaining until the School of International Financial Services' 4th Annual Economic Crime & Compliance Symposium this November, only a limited number of tickets are still available. Secure yours today at https://lnkd.in/emdAUPzr to avoid missing out! Speaking about networked KYC and how to avoid 'the biggest waste of time' in the onboarding process at the 4th Annual Economic Crime & Compliance Symposium will be KYC360 co-founder and COO Tom Devlin. We look forward to hearing from Tom and other world-leading experts who will share insights into the latest economic crime developments from AML/CFT and sanctions to tax evasion and bribery and corruption. #KYC360 #FinancialServices #AML #CFT #FinancialCrimePrevetion #FCP #Compliance #EconomicCrime

𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗔𝗠𝗟/𝗖𝗙𝗧 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: 𝗦𝗮𝗳𝗲𝗴𝘂𝗮𝗿𝗱𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗶𝗻 𝗖𝗮𝗺𝗯𝗼𝗱𝗶𝗮 In today's evolving financial landscape, ensuring your business complies with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations is crucial. Non-compliance can lead to serious penalties, including fines and criminal charges. Our latest article delves into key AML/CFT requirements under Cambodia’s 2020 regulations, the industries most affected, and practical steps your business can take to ensure compliance. From appointing a Money Laundering Compliance Officer to conducting thorough Client Due Diligence, we offer tailored solutions to help businesses navigate these complexities. 💼 Stay compliant. Safeguard your business’s integrity. Learn more about AML/CFT compliance for Cambodian businesses. 🔗 Read more: https://lnkd.in/gdSmcqKx #SokSiphanaandassociates #AML #CFT #Compliance #FinancialIntegrity #Cambodia

Navigating AML/CFT Laws for DNFBPs in Nigeria Did you know that DNFBPs like real estate agents, legal practitioners, accountants, and jewellers in Nigeria are governed by multiple laws to combat money laundering and terrorism financing? Key regulations such as the Money Laundering (Prevention and Prohibition) Act (MLPPA), Money Laundering (Amendment) Act 2022, Terrorism Prevention (Amendment) Act (TPPA), Proceeds of Crime Act (POCA), Companies and Allied Matters Act (CAMA), and others ensure compliance and accountability. Additionally, oversight by SCUML, CBN, and the NFIU helps enforce these requirements. Understanding these laws is vital for safeguarding your business and staying compliant. Check out our infographic and detailed guide to simplify your AML/CFT journey. Article Link: https://lnkd.in/dy4Ezifr #AMLCompliance #DNFBPs #Nigeria #FinancialCrimePrevention #AntiMoneyLaundering #Compliance #Risk #AMLCFT #MoneyLaundering #FinancialCrimeCompliance #CBN #SCUML #MLPPA #MLA2022 #TPPA #POCA #CAMA #MLACMA #NFIUA 

The SRA has written to all law firms they regulate informing them of mandatory information on AML and Financial Sanctions that they will be required to provide via their portal....WHICH OPENS on 8th AUGUST ! With the spotlight on law firms in this area, there is a reported nervousness from firms wanting to ensure that they get this right. https://lnkd.in/eU-8aFgs The SRA will be calling in information on: - Work your firm carries out within scope of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 - Any contact or involvement your firm has with the sanctions regime and any persons who are designated under it - Submission of suspicious activity reports to the National Crime Agency We can help you with the Audit and any associated AML work....just ask. The deadline for completion is not far away....23rd September HiveRisk = Strategy - Compliance - Innovation for Law Firms #regulatorycompliance #lawfirms #aml #amlcompliance #sourceoffunds #sra #legal #compliance

Jamaica Removed from FATF Grey List Following Significant AML/CFT Improvements Dr. the Hon. Nigel Clarke, Minister of Finance and the Public Service, announced that Jamaica had been removed from the FATF’s ‘Grey List’ after the FATF meetings in Singapore. This removal marks a significant achievement for Jamaica, which was placed on the Grey List in February 2020 due to deficiencies in its AML/CFT regime. Since then, the Government of Jamaica implemented a comprehensive 13-point action plan to address these deficiencies. Despite the challenges of the COVID-19 pandemic, Jamaica successfully enacted a range of legislative and regulatory reforms. A recent FATF onsite visit confirmed the effectiveness of these measures, leading to Jamaica’s removal from increased monitoring. Minister Clarke expressed gratitude to Prime Minister Andrew Holness, the multi-agency National Anti-Money Laundering Committee (NAMLC), and various international partners for their contributions to this achievement. As Jamaica prepares to assume the Chair of the CFATF in December 2024, Minister Clarke emphasized the importance of maintaining high standards in AML/CFT and Countering Proliferation Financing (CPF) to avoid future Grey Listing. Looking ahead, Jamaica is preparing for the 5th round of AML/CFT/CPF mutual evaluations in mid-2026, with plans to introduce new laws by the end of 2025 to regulate virtual assets, mandate non-profit organization registration, and address targeted financial sanctions related to proliferation. Minister Clarke concluded by highlighting that this achievement demonstrates Jamaica's capability to achieve its goals through focused effort. For more details please click on the links below:- https://lnkd.in/gADsZjNw https://lnkd.in/dBMue83Q #Jamaica #FATF #GreyList #AML #CFT #FinancialActionTaskForce #Caribbean #EconomicGrowth #Victory #GoodNews #Celebration #JamaicaStrong #legal #compliance #NLIVEN

💼📜 Why Lawyers in Nigeria Should Welcome the Anti-Money Laundering (AML) Regulations Proposed by the Nigerian Bar Association📜💼 In today's complex global economy, the role of lawyers is not just limited to providing legal advice and representation. It extends to them standing in a crucial position as frontline defenders against financial malfeasance which has become increasingly sophisticated and pervasive. As court officers and custodians of justice, lawyers are uniquely positioned to combat financial crimes such as money laundering, fraud, terrorist financing, and corruption. Other developing and developed countries have long embraced AML measures and this has massively influenced the state's economic growth. There are several reasons why lawyers in Nigeria should embrace the Anti-Money Laundering (AML) regulations which the Nigerian Bar Association is currently collaborating with the Economic and Financial Crimes Commission to achieve. Below are a few of these reasons; Protecting the Integrity of the Legal Profession  By adhering to AML regulations, lawyers help maintain the integrity and trustworthiness of the legal profession. Ensuring that our practices are free from illicit activities protects our reputation and upholds the rule of law. Compliance with International Standards Nigeria is a member of various international bodies that combat money laundering and terrorist financing, such as the Financial Action Task Force (FATF). Compliance with AML regulations aligns Nigerian legal practices with global standards, enhancing our international credibility. Mitigating Legal and Financial Risks Failure to comply with AML regulations can lead to severe legal consequences, including hefty fines and sanctions. Lawyers who proactively adopt AML measures protect themselves and their firms from legal and financial repercussions which will definitely arise in the near future. Enhancing Client Trust and Confidence  Clients are increasingly aware of the risks associated with money laundering. By implementing robust AML policies, lawyers can reassure clients of their commitment to ethical practices, thereby fostering greater trust and confidence in their services. Supporting National Security and Economic Stability Money laundering has far-reaching implications for national security and economic stability. Nigeria along with other countries is currently “grey listed” by the FATF. Lawyers who adopt AML regulations will contribute to the broader effort to combat financial crimes, supporting the economic and social well-being of Nigeria and in no time removed from the grey list. Adopting AML regulations is not just a legal obligation but a professional duty. Let’s work together to ensure our legal community remains a bastion of compliance, integrity, and justice. #AMLConsultantinUAE #AMLConsultantinNigeria #LegalProfession #AMLCFT #lawandlegislation #Compliance #FinancialIntegrity #future

Course Overview Money laundering activities have negative impact to the economic and social development of societies and nations. The strategies to fight anti- Money laundering activities require a knowledgeable public that can support government efforts to combat these un-healthy practices. This course is designed purposefully to help different stakeholders gain awareness of money laundering activities in their countries so that they can support their institutions and government to combat the practices. Course Objectives: At the end of the course participants should be able to identify and analyze corruption risks in public procurement, to design and apply strategies and initiatives for preventing and combating corruption in this sector, and to effectively implement the anti-corruption program. Who should attend. Legal drafters, policy makers, financial sector supervisors, and regulators of designated non-financial businesses and professions; financial intelligence unit (FIU) officials; criminal justice officials; and other government officials involved in the implementation of AML/CFT laws in their respective countries. Government officials must have a minimum of two years’ experience in AML/CFT issues. #africanfinanceandmanagementthinkersinstitute #afmti #moneylaundering #shortcoursetraining

𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐭𝐢-𝐂𝐨𝐫𝐫𝐮𝐩𝐭𝐢𝐨𝐧 𝐃𝐚𝐲 - 𝐀𝐌𝐋 𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 Money laundering is more than just a financial crime—it erodes trust, fuels corruption, and compromises integrity. On International Anti-Corruption Day, let’s commit to fighting back by raising awareness about Anti-Money Laundering (AML). Businesses in the UAE have a critical role to play. By spotting red flags and complying with the UAE’s AML and CFT laws, you’re not just protecting your operations—you’re contributing to a more transparent and ethical future. Need guidance? Contact us at 𝐢𝐧𝐟𝐨@𝐜𝐳𝐭𝐚.𝐚𝐞 for expert AML compliance services. #AML #CFT #FinancialIntegrity #UAE #AntiCorruption #InternationalAntiCorruptionDay

A welcome announcement that AML/CFT laws are on the NZ law reform agenda: https://lnkd.in/gfQBAbyG. 👏👏👏 Anyone who's had to work with the NZ regime will share in the frustration about the rules being unclear and uncertain, inconsistent and inconsistently applied, and a minefield 💣 of regulatory risk. While most no doubt agree that responsible citizens play a role in detecting and deterring crime, and that NZ needs to align with international norms, it's not at all clear that the regime as it currently stands has efficiently, effectively or fairly achieves that objective. As always, the proof will be in the pudding (this isn't the first attempt at reform) but the first step in solving a problem is to recognise than it exists. 🎉🎉🎉 #AML/CFT #NewZealand #LawReform #RegulatoryRelief

🌐 Do you know how international cooperation works through MLATs ❓️ ▪︎ A Mutual Legal Assistance Treaty (MLAT) is a bilateral agreement between countries that facilitates cooperation in criminal investigations and prosecutions, particularly in areas like AML, CFT and financing crimes. ▪︎ MLATs allow countries to share evidence, intelligence, information, and legal assistance in criminal matters that transcend national borders. #️⃣ How MLAT Works❓️ ❗️Scenario: Consider India 🇮🇳 and UAE 🇦🇪 have MLAT agreement. India requesting intelligence regarding its citizen settled in UAE but under trail for financial crimes in India. 👉 The central authority of the requesting country (🇮🇳) sends a commission rogatoire (letters rogatory) to the central authority of the other country (🇦🇪). 👉 The letter includes the information sought, the nature of the request, the criminal charges in the requesting country, and the legal provision under which the request is made. 👉 The central authority (🇦🇪) that receives the request sends it to a local financial investigator to determine if the information is available. 👉 An investigator from the requesting country (🇮🇳) then visits the country (🇦🇪) from which the information is sought and accompanies the local investigator during visits or when statements are taken. 👉 The central authority (🇦🇪) sends the evidence to the requesting central authority (🇮🇳), thereby satisfying the request for mutual legal assistance. 👉 Local witnesses (🇦🇪) may need to attend court hearings in the requesting country (🇮🇳), if needed. #️⃣ Real-Life Example - 1MDB Scandal: ▪︎ In the high-profile 1MDB scandal involving money laundering and embezzlement in Malaysia, MLATs played a significant role. ▪︎ Countries like the United States, Switzerland, Singapore, and others cooperated through MLATs to gather evidence, freeze assets, and prosecute individuals involved in the illicit scheme. Follow Akir Jahir Mallick, CAMS for more AML & KYC-related content. #aml #cft #cdd #edd #financialcrime #fraud #riskmanagement #cams