Complytics Solutions ’s Post

The AML/CTF Advisers’ Forum 2024 highlighted AUSTRAC’s focus on strengthening compliance, improving reporting, and addressing emerging financial crime risks. For AML Assist clients, this means learning to stay proactive, agile, and compliant in a changing landscape. Our team ensures you’re equipped to meet regulatory priorities, implement risk-based approaches, and adapt to AUSTRAC’s evolving expectations. Ready to start planning your approach to the changing regulations? Let’s talk: https://loom.ly/P3wAEJk #AMLAssist #AMLCTF #AUSTRAC

AML/CFTP Governance - Focusing on Board and Senior Management Oversight In our ongoing series on Anti-Money Laundering and Countering the Financing of Terrorism and Proliferation (AML/CFTP) insights, this week, we look at the critical roles of the board of directors, and senior management in ensuring effective governance. Robust oversight is essential to ensure compliance with local regulations, international standards such as those set by the Financial Action Task Force (FATF), and safeguarding financial institutions against financial crimes. Attached is this weeks article. Happy reading >>>> #AML #CFTP #Insights #Compliance #Governance

🔍 FATF June 2024 Update 🔍 The FATF has announced updates to its list of jurisdictions under increased monitoring. Here are the details: New Jurisdictions under Increased Monitoring: 🚨 Monaco 🚨 Venezuela Jurisdictions No Longer Subject to Increased Monitoring: 👏 Jamaica 👏 Türkiye For the full release refer to: https://lnkd.in/dHNyWGr7 It is pertinent to note that risks must be seen in context as well as to keep abreast of other jurisdictional lists such as the EU list of high-risk third countries in terms of AML/CFT regimes: https://lnkd.in/daVSwigh #FATF #AML #CFT #Jurisdiction #Risk #GlobalUpdates

#MoneyLaundering & #TerroristFinancing: Consolidated assessment ratings Through its nine Financial Action Task Force (FATF)-Style Regional Bodies (FSRBs), the Financial Action Task Force (FATF) brings together a global network of 205 jurisdictions that have each committed at the highest political level, to implementing the FATF Recommendations https://lnkd.in/dc-Rx8NU  Financial Action Task Force (FATF) and FSRBs conduct peer reviews on an ongoing basis to assess how effectively their respective members' AML/CFT measures work in practice, and how well they have implemented the technical requirements of the Financial Action Task Force (FATF) Recommendations.  This table provides an up-to-date overview of the ratings that assessed countries obtained for effectiveness and technical compliance (last updated on 19 December 2024). ACCOBIN Association of Chief Compliance Officers Super Pearls Professionals

The Law Society of Scotland’s anti-money laundering (AML) team has released a #guide to help members understand more about the AML inspection process and how to prepare for an #inspection. The guide is designed to offer a detailed insight into the types of AML inspection that the #team do, why each inspection is conducted, the steps involved in an inspection, and what is expected of firms. It forms part of the AML team’s ongoing work to continually find ways to provide members with focused, relevant materials that aid practices to meet their regulatory obligations. The guide covers: full assurance inspections, re-inspections (full or limited in scope), risk-based single file reviews, thematic reviews and attestation statements. In addition, there is an overview of the AML team and its purpose, information on how to prepare for an inspection, how to provide requested documents, an extensive list of the types of documentation requested during an inspection, and process flows showing each step of an inspection. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #scotland #uk #unitedkingdom

Check this course out if you want to improve your knowledge related to AML/COUNTING TERRORIST FINANCING Risk Assessment and Mitigation to be ready to give your contribution to your firm. Thanks to the Financial Crime Academy for this very first course, and surely not the last one! #KeepLearning #KYC #Compliance

How is a jurisdiction considered high-risk? The Financial Action Task Force (FATF) assess countries for their standards on preventing money laundering, terrorist and proliferation financing. If a country is seriously deficient in achieving these standards, they are placed on a 'black-list'. Clients or transaction with ties to these locations should be considered high-risk and additional due diligence should be done to mitigate potential risks. #aml #amlcompliance #compliance #complianceofficers #antimoneylaundering #risk

#GRCbytes : Global The Financial Action Task Force (FATF), the global watchdog, has published a fresh list of jurisdictions under increased monitoring, known as the “grey list,” in relation to money laundering, terrorist financing, and proliferation financing during its June 2024 meeting in Singapore. #didyouknow #compliance #risk #governance #riskmanagement #compliancemanagement #regulatorycompliance #statutorycompliance #regulatoryupdates #regulatorychanges #corporatecompliance #complianceprofessionals #lawyers #complianceofficers #complianceprograms #compliancefunction #cco #grcupdate #riskassessments #compliancefunctions #complianceculture

Excited to share that I've successfully completed the Whistleblowing and ABC Policy Anti-Money Laundering & Combatting the Financing of Terrorism (EU) Foundation Course! 🎉 This comprehensive training has equipped me with the necessary tools and knowledge to ensure compliance with AML/CTF regulations and uphold the highest standards of integrity within our organization. Whistleblowing and ABC policies are essential components in our efforts to mitigate financial crime risks and maintain trust in the financial system. #AML #CTF #Whistleblowing #ABCPolicy #FinancialCompliance #ContinuousLearning

Being aware of what tools are at your disposal and what progress is being made is essential for prevention. Check out the latest from the Basel Institute on Governance here. #aml #fraud #cft #fincrime #knowledgeispower