The Territory/Virgin Islands must meet global standards set by the Financial Action Task Force (FATF).
2 reports, 1 independent
Updated Aug 27
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What happened
The Territory/Virgin Islands must meet global standards set by the Financial Action Task Force (FATF).
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- FATF standards require licensing or registration for underground banking/HOSSPs.Sub-event
The Territory/Virgin Islands is required to comply with FATF global standards.1 source
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The entities involved
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Financial Action Task Force
intergovernmental organization to combat money laundering and terrorism financing
- India holds the vice-presidency of the Financial Action Task Force (FATF), with an officer from the Madhya Pradesh cadre involved.
- South Africa is undergoing an assessment by the Financial Action Task Force (FATF) regarding its compliance with international standards to combat serious financial crimes.
Related events
- Government must follow FATF recommendations.
- Sri Lanka is aligning its national policies with FATF standards, including directing draft legislation for virtual assets and joint supervision of virtual asset service providers.
- Bill mandates alignment with international FATF standards, with the Monetary Authority of Singapore overseeing financial regulation within Singapore.
- FATF member countries identified professional service providers as part of its monitoring efforts.
- An organization based in the Sister Islands is adhering to FATF standards for financial crime, with training held in Cayman Brac.