Regulatory Alerts2022-01-01
FATF Recommendations - International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation
The Financial Action Task Force issued the updated March 2022 FATF Recommendations, establishing the global standard for combating money laundering, terrorist financing, and proliferation financing. The document requires countries to implement a risk-based approach, criminalize relevant offenses, enforce targeted financial sanctions, and enhance transparency of beneficial ownership. It further mandates robust preventive measures for financial institutions and designated non-financial businesses, alongside strengthened international cooperation and regulatory supervision.
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