UK’s proposed controversial counter-terrorism law deals with home-grown terrorists and their return, including permitting forced relocation of suspects

Admittedly, infringing rights to uphold democracy Christine Duhaime, B.A., J.D., Financial Crime and Certified Anti-Money Laundering Specialist Follow @cduhaime The UK’s tough and controversial new counter-terrorism legislation is slated to be reviewed by the House of Lords on Monday before being given Royal Assent in an expedited fashion. The Counter-Terrorism and Security Bill (HC 127) is intended to address [...]

Canada imposes additional sanctions on Iran essentially prohibiting all transactions

New Sanctions Against Iran The government of Canada today announced the imposition of new sanctions against Iran as a result of the lack of progress with the reduction of Iran’s nuclear program. Effective today, Canada banned all exports from and imports to Iran, and added more entities and individuals to the list of designated persons [...]

FATF Releases New Recommendations and Standards for Anti-Money Laundering and Counter Terrorist Financing

Today, the Paris-based Financial Action Task Force (FATF) released its long anticipated revised set of standards for anti-money laundering (AML) and counter terrorist financing (CTF) which replace the 40 Recommendations + 9 Special Recommendations compiled in 2003. The revised FATF Recommendations integrate AML and CTF controls into one document and are quite expansive in that they [...]

Canada proposes further anti-money laundering amendments

The Canadian government announced that it is undertaking a potentially significant revision to its anti-money laundering (AML) and counter terrorist financing (CTF) regime. The proposed changes are in addition to those proposed by the government in November 2011. In its Consultation Paper entitled “Strengthening Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime”, the government is proposing [...]

Canada proposes significant new AML regulations

On November 7, 2011, the Department of Finance released a consultation paper on proposed amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (the “Regulations”).

FATF seeks consultation on mutual evaluation standards

In preparation for the 4th round of mutual evaluations, the FATF is reviewing the standards with which it performs its evaluations and has released a consultation paper for public input on the following topics: risk based approaches; tax crimes as a predicate offence for money laundering; customer due diligence mechanisms; politically exposed persons; and third [...]