Category: AML

Regulatory Watch News

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  THE SAUDI CENTRAL BANK RECEIVES THE GLOBAL IMPACT AWARD FOR ITS OUTSTANDING EFFORTS IN THE FINANCIAL TECHNOLOGIES

  Saudi Central Bank

  June 16, 2021

  The Saudi Central Bank has received the Global Impact Award 2021, which was granted by the Central Banking Committee as part of its Central Banking FinTech & RegTech Global Awards. This award is given to outstanding financial supervisory organizations that demonstrate a profound ability to innovate and develop within the global central banking community.

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  Mexico’s progress in strengthening measures to tackle money laundering and terrorist financing

  FATF

  June 16, 2021

  Since the 2018 assessment of Mexico’s measures to tackle money laundering and terrorist financing, the country has taken a number of actions to strengthen its framework. Mexico has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2018 . In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the action it has taken since then. Consequently, to reflect Mexico’s progress, the FATF has now re-rated the country on the following Recommendations: 8 – Non-profit organisations, from partially compliant to largely compliant 10 – Customer due diligence, from partially compliant to largely compliant 12 – Politically exposed persons, from partially compliant to compliant 16 – Wire transfers, from partially compliant to compliant 17 – Reliance on third parties, from partially compliant to compliant

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  630 POTENTIAL VICTIMS OF EXPLOITATION IDENTIFIED DURING EUROPE-WIDE COORDINATED ACTION DAYS

  Europol

  June 16, 2021

  73 suspected human traffickers arrested in one-week operation

  Between 31 May and 6 June 2021, Europol supported Europe-wide coordinated action days against human trafficking for labour exploitation. The operation, led by the Netherlands, involved a wide range of law enforcement authorities including police, immigration and border guards, labour inspectorates and tax authorities. In total, 23* countries took part in the coordinated operational activities.