AML/CTF/CPF
Industry News
Key themes from the conference include:
➡️ Multilateral cooperation: Recognising the benefits of and need for international cooperation to understand terrorist financing threats, strengthen legislation, and share information;
➡️ Digital channels: Understanding the importance of implementing the FATF guidance on virtual assets, particularly the travel rule, and the increasing threat posed by the blending of cash-based and digital financing methods;
➡️ Financial inclusion: Acknowledging the importance of financial inclusion for legitimate entities and the need for tailored risk assessments for non-profit organisations (NPOs) particularly due to the misuse of FATF standards to supress civil society; and
➡️ Organised crime: Sharing best practice on addressing and dismantling links between organised crime and terrorism financing.
✅ Firms should review Counter Terrorism Financing (CTF) control frameworks to ensure they are responsive to evolving threats.
