FINTRAIL produces a monthly summary of FinCrime regulatory changes and publications. This document covers:
Key updates from global and local regulators
Key updates from industry guidelines
Additional insights identified from financial intelligence units
September 2023
This month’s highlights include:
The United Nations Office on Drugs and Crime (UNODC) has published a report on the hawala system, a global money transfer service.
The International Monetary Fund (IMF) has published a new working paper that proposes the implementation of a crypto-risk assessment matrix.
The Financial Conduct Authority (FCA) has issued a report and a letter to the Chancellor detailing the initial findings of its work to investigate reasons for account closures and access to financial services.
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued an alert on virtual currency “pig butchering” scams.
The Asia Pacific Group (APG) has issued a report on money laundering associated with tax crimes in the Asia Pacific region.
What other publications and regulatory changes caught your eye in September? If you are interested in speaking to the FINTRAIL team about any of the items in the REG-CAP, have any ideas for inclusion, or want to discuss any other financial crime topic, please get in touch: contact@fintrail.com