Market surveillance is the prevention of illegal or manipulative trading practices throughout global security markets. This a common point of scrutiny for regulators across the globe.
In 2017, the New York Department of Financial Services (NYDFS) released newly updated Anti-Money Laundering (AML) requirements. These AML regulations aim to decrease the consequences of money laundering in criminal areas such as drug trafficking, human trafficking, terrorism, and other illicit undertakings. Notably, New York AML regulations have a significant global impact.
Compliance is a defensive wall against financial crime and money laundering, but it places quite a toll on banks and financial institutions. A failure to comply with applicable laws and regulations might result in hefty fines. Most of last year’s fines relate to non-compliance with AML or KYC legislation. However, there are lessons learned that can be taken away!
Table of Content: The Foundation of the FATF What is the FATF? The FATF's 40 Recommendations The FATF's 9 Special Recommendations What else does FATF do? FATF Blacklist and FATF Greylist The Financial Action Task Force, the FATF, is undoubtedly the most relevant...
Table of Content: Money Laundering and the drug cartels in the 1980s The First Piece of Groundbreaking AML Regulation The last 50 years and the emergence of international AML regulation is really just the story of transitional crime.Money Laundering and the drug...
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