Introduction to the RISK-BASED APPROACH

Introduction to the RISK-BASED APPROACH

by | Nov 25, 2020 | News-fr, Newsroom

In 2007, the Financial Action Task Force (FATF) has introduced a guidance called “Risk-Based Approach to Combating Money Laundering and Terrorist Financing” which outlined the importance of implementing the risk-based approach in all financial institutions and...
The Obligations related to Beneficial Ownership

The Obligations related to Beneficial Ownership

by | Nov 11, 2020 | Newsroom

The Financial Intelligence Anti-Money Laundering Regulations 2018 (FIAML Regulations 2018) spells out that a reporting person, that is a bank, financial institution, cash dealer or member of a relevant profession or occupation, is required to identify the beneficial...
Spurned paramour

Spurned paramour

by | Nov 6, 2020 | UBlog

The institution of marriage is still strongly embedded in our society – although the high incidence of broken-down relationships resulting in rocketing divorces would have us believe otherwise. In parallel, extra marital relationships are still sanctioned by society...
Customer Due Diligence & Third-Party Reliance

Customer Due Diligence & Third-Party Reliance

by | Nov 4, 2020 | Newsroom

As part of their duties to combat money laundering and terrorism financing, financial institutions have the duty to conduct Customer Due Diligence (CDD) by proceeding with the identification and verification of a customer’s identity.  The inadequacy or absence of...