Cybersecurity and Anti-Money Laundering: Safeguarding Financial Systems In today's digital age, the integration of technology into financial systems provides tremendous convenience and efficiency. However, with these developments, new risks and challenges, especially in the field of money laundering, cannot be avoided. Cyber security plays a vital role in the fight against money laundering [...]

Anti Money Laundering in United Arab Emirates Money laundering has become a global concern in recent years, as criminals seek to disguise the origins of their ill-gotten gains. The United Arab Emirates (UAE) has taken a proactive stance in combating money laundering, implementing stringent regulations and establishing specialized courts to tackle this issue. [...]

Caribbean Financial Action Task Force (CFATF) The Caribbean Financial Action Task Force (CFATF) was established in 1990 to address the issue of money laundering in the Caribbean region. The CFATF is a member of the Financial Action Task Force (FATF), an international organization that sets standards for combating money laundering and terrorist financing. [...]

The National Risk Assessment (NRA) There are some risks that countries may face within the framework of money laundering and terrorism financing, and it is necessary to act against these risks. The National Risk Assessment (NRA) is a comprehensive process that enables countries to identify and calculate these risks and act against the [...]

Ultimate Beneficial Owner (UBO) A UBO is the person that ultimately owns or controls a financial transaction. The relationship between UBO and AML (Anti-Money Laundering) can be hard to indentify and that may lead to onboarding of PEPs (Politically Exposed Persons) and individuals who are sanctioned for tax evasions or money laundering. It [...]

NFT in Money Laundering It has been more than ten years since cryptocurrencies, blockchains, and non-fungible tokens (NFTs) entered our lives. Cryptocurrencies, which provide anonymity, have given their users a serious area of freedom, unlike the traditional banking system, where all transfer transactions are recorded. However, the fact that cryptocurrencies and NFTs can [...]

Australian Transaction Reports and Analysis Center (AUSTRAC) The Australian Transaction Reports and Analysis Center (AUSTRAC) is an agency of the Australian government that regulates and oversees the financial industry to help prevent money laundering, terrorism financing, and other crime in the country. AUSTRAC is responsible for all financial institutions, cash-processing businesses, and other [...]

Anti-Money Laundering Regulations in Azerbaijan In Azerbaijan, the relations related to the detection and prevention of the legalization of property obtained through crime and the financing of terrorism are regulated by the Anti-Money Laundering Law. However, there is a gap in the anti-money laundering legal framework that excludes dealers of arts, antiques, and [...]