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
January 2024
This month’s highlights include:
Transparency International released its 2023 Corruption Perceptions Index. 118 countries stayed at the same score as last year, while 28 countries improved their score and 34 countries declined.
The European Parliament and the European Council have reached a provisional agreement on new harmonised AML regulations, and the final text of a new 6th Anti-Money Laundering Directive (6AMLD).
In the UK, an amendment to the Money Laundering Regulations on the treatment of domestic PEPs came into force on 10 January.
Local Chinese media has reported that China is amending its AML regulations, the first major update since 2007, to include cryptocurrency transactions.
The USA's Office of Foreign Assets Control (OFAC) and its international partners issued several new sanctions designations throughout January - read the doc for full details.
What other publications and regulatory changes caught your eye in January? If you are interested in speaking to the FINTRAIL team about any of the items in the RegCap, have any ideas for inclusion, or want to discuss any other financial crime topic, please get in touch: contact@fintrail.com