Status of implementation of Recommendation 15 by FATF members and jurisdictions with materially important VASP activity
In October 2018, the FATF strengthened its Recommendation 15 (R.15) to address virtual assets and VASPs. Failure to regulate VASPs in one jurisdiction can lead to serious global implications due to its inherently international and borderless characteristics
April 2024
Amendment of One Entry on ISIL Da’esh and Al-Qaida Sanctions List On 25 April 2024, the UNSC Committee established pursuant to resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL(Da’esh), Al‑Qaida and associated individuals, groups, undertakings and entities amended one entry on its sanctions list of individuals and entities. Notice – Amendment of one Entry on ISIL Da’esh and …
FIU/Notice/2024/01 Registration of Reporting Persons pursuant to Section 14C of the FIAMLA
Section 14C of the FIAMLA requires all reporting persons, as defined under the FIAMLA to register with the FIU, established under Section 9 of the FIAMLA. On 27th March 2024, the FIU issued a Notice ‘FIU/Notice/2024/01’ (‘the Notice’) with respect to registration of reporting persons pursuant to Section 14C of the Financial Intelligence and Anti-Money Laundering Act (FIAMLA)
Guidance on Beneficial Ownership and Transparency of Legal Arrangements
On 11th March 2024, the FATF has updated its risk-based guidance following the February 2023 revisions to FATF Recommendation 25 on Beneficial ownership and transparency of legal arrangements.
March 2024
Changes to the 1718 Sanctions List and to the United Nations Security Council Consolidated List On 07 March 2024, the Security Council Committee established pursuant to resolution 1718 (2006) concerning the Democratic People’s Republic of Korea (DPRK) has amended one entry on its sanctions list. Note Verbale Notice – Amendment of One Entry on the 1718 Sanctions List concerning the Democratic People’s Republic …