August 2019 Newsletter – The Mutual Evaluation
A mutual evaluation is an assessment of a country’s level of implementation of the Financial Action Task Force (FATF) 40 Recommendations. This is a peer review, where members from different countries assess another country.
Read MoreJuly 2019 Newsletter- Identifying Suspicious Transactions/Activities
In Issue # 79, we learnt that suspicious transactions are activities for which there are reasonable grounds to suspect that they are related to a criminal activity or the commission of a money laundering (ML) or terrorist financing (TF) offence.
Read MoreJune 2019 Newsletter- Keys in Preparing an Effective Suspicious Transaction Report (STR)
What is a Suspicious Transaction/Activity?
Suspicious transactions/activities are transactions/activities for which there are reasonable grounds to suspect that they are related to criminal activity or the commission of a money laundering (ML) or terrorist financing (TF) offence.
May 2019 Newsletter- Non-Profit Organizations
The Financial Action Task Force (FATF) has adopted a functional definition to non-profit organizations (NPOs) given the variety of legal forms that NPOs can have, depending on the country.
Read MoreApril 2019 Newsletter-BEPS and its Impact on the Financial Services Industry
According to the Organisation for Economic Cooperation and Development (OECD), Base erosion and profit shifting (BEPS) is referred to as “tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity.”
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