Angolan Officials pay a study visit to FIU Mauritius
A significant event took place as delegates from Angola, representing various key authorities, visited FIU Mauritius to offer their expertise and support in the post Mutual Evaluation implementation process. The visit aimed to foster collaboration and knowledge sharing between the two nations, particularly in the field of financial intelligence and compliance
Illicit Financial Flows from Cyber-enabled Fraud
In recent years, cyber- enabled fraud is a major transnational organized crime that has grown significantly. On 9th November 2023, the FATF published a report on ‘Illicit Financial Flows from Cyber-enabled Fraud’ that identifies risk indicators and useful anti-fraud requirements and controls, that may help public and private sector entities detect and prevent cyber enabled fraud and related money laundering
Amendments to FATF standards to strengthen Global Asset Recovery
In 16 November 2023, the Financial Action Task Force (FATF) published amendments to the FATF Recommendations which will provide law enforcement, financial intelligence units, prosecutors, other asset recovery practitioners and competent authorities with a more robust toolkit to target and confiscate criminal assets
Best Practices on Combatting the Abuse of Non-Profits Organizations
On 16th November 2023, the Financial Action Task Force (FATF) has updated its Best Practices to reflect the amendments to Recommendation 8 and to help countries, the non-profit sector and financial institutions understand how to effectively protect relevant NPOs from abuse for terrorist financing, without unduly disrupting or discouraging legitimate NPO activities
Protecting non-profits from abuse for terrorist financing through risk-based implementation of revised FATF Recommendation 8
On 16th November 2023, the Financial Action Task Force (FATF) amended Recommendation 8 and its Interpretative Note to address the misapplication and misinterpretation of Recommendation 8, that had led countries to apply disproportionate measures on Non-Profit Organisations (NPOs)
Recovering International Proceeds of Crime through Inter-Agency Networks
On 16th November 2023, the Financial Action Task Force (FATF) published a detailed report of the role and impact of Asset Recovery Interagency Networks (ARINs)
November 2023
Re: Amendments of Five Entries on the Libya Sanctions List On 29 November 2023, the UNSC Committee established pursuant to resolution 1970 (2011) concerning Libya amended five entries on its sanctions list of individuals and entities. UNSC Consolidated List 30.11.2023 Notice Amendment of five entries on the Libya Sanctions List —————————————————————————————————————————————————— Humanitarian Travel Exemption to 2 Listed Individuals On 24 November 2023, the Security Council …
FATF Report – Crowdfunding for Terrorism Financing: Summary
The Financial Action Task Force (FATF) has published a report in October 2023 which discusses the significant international market of crowdfunding, its growth, and its potential for exploitation by terrorist actors. Crowdfunding is an innovative fundraising solution used for legitimate projects but can be abused for terrorist financing. The FATF conducted research showing that terrorist groups like ISIL, Al-Qaeda, and ethnically/racially motivated terrorists use crowdfunding to raise funds for their activities