On March 17th 2022, the Financial Intelligence Authority (FIA) held a workshop for over 200 Accountable Persons in the Securities sector, Casinos, Insurance companies and Brokers on AML/CFT Independent Audits for their Organizations.
Abridged Bid Notice under open Bidding
Prequalification of Providers for Financial Years: 2022/23, 2023/24 and 2024/25
Proc: Ref Number: FIA/SRVCS, SUPLS, WRKS/21-22/00041Part 2- Statement of Requirements: List of Supplies, Services and Works to be Provided.
Anonymity, high negotiability and utility of funds as well as global access to cash through ATMs are some of the major factors that can add to the attractiveness of Payment Service Providers (PSPs) for money launderers. Anonymity can be reached either “directly” by making use of truly anonymous products (i.e., without any customer identification) or “indirectly” by abusing personalized products (i.e., circumvention of verification measures by using fake or stolen identities, or using strawmen or nominees etc.).
The Anti-Money Laundering (Amendment) Regulations, 2022
(Under section 141 of the Anti-Money Laundering Act, Cap 118)
Read more->The Anti-Money Laundering (Amendment) Regulations, 2022
The Financial Action Task Force (FATF) an international body that identifies deficiencies in Jurisdictions and sets international standards to combat money laundering, counter terrorist financing and Proliferation Financing (AML/CFT/CPF) has issued a public statement updating its lists of jurisdictions with strategic AML/CFT/CPF deficiencies following its plenary meeting in October 2021.