by Temple Consulting | 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...
by Temple Consulting | 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...
by Temple Consulting | Oct 28, 2020 | Newsroom
Identifying and assessing the level of money laundering and terrorism financing (ML/TF) risk to your business or organisation is an essential part of your Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) program. According to section 17 of Financial...
by Temple Consulting | Oct 21, 2020 | Newsroom
As per the recommendation of the Financial Action Task Force (‘FAFT’) on the establishment of an independent compliance audit, section 22(1)(d) of the Financial Intelligence and Anti-Money Laundering Regulations 2018 (‘FIAML 2018’) provides that licensees are required...
by Temple Consulting | Oct 15, 2020 | Newsroom
The emerging market of high value real estate has attracted much skepticism from authorities around the world for their vulnerability of being used as a vehicle for money laundering. Money laundering through real-estate can take various forms: large cash deposits to...
by Temple Consulting | Oct 6, 2020 | Newsroom
In the third and last part of this series, we explore the report of the Financial Action Task Force (FATF) entitled Money Laundering and the Illegal Wildlife Trade published in June 2020. As mentioned previously, wildlife trafficking, a soaring and lucrative industry...
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