Circular to Licensed Corporations, SFC-licensed Virtual Asset Service Providers and Associated Entities – Anti-Money Laundering / Counter-Financing of Terrorism 

The Financial Action Task Force (FATF) has identified high-risk jurisdictions requiring enhanced due diligence and countermeasures to address money laundering, terrorist financing, and proliferation financing risks. Additionally, they are closely monitoring specific countries and have made updates regarding their inclusion and removal. The recent FATF Plenary resulted in agreements on revisions to Recommendation 8, reports on terrorism financing through crowdfunding and illicit financial flows from cyber-enabled fraud, and the release of updated guidance on beneficial ownership and transparency of legal arrangements. Moreover, the FATF emphasizes the importance of asset recovery and collaboration with Asset Recovery Networks (ARINs) in the fight against money laundering and terrorist financing.



Learn with us in small steps

Find out more about us