FATF's second Plenary, led by Singapore's President T. Raja Kumar concluded in Paris. Over 200 jurisdictions participated, discussing various global financial system issues.
#terrorist financing
Don’t risk your business.
The FATF's policy of regularly reporting countries with poor AML/CFT regimes has proven successful.
Although money and terrorist financing are two very similar crimes, there are some differences between them.
Today the importance of AML compliance is not only limited to protecting the financial system from money laundering and terrorist financing but it also has a significant connection with fraud.
KYC procedures in banks include all necessary actions to ensure that their customers' given identities are real
Know Your Customer (KYC) is a control procedure that financial institutions apply to verify the identities of their existing and new customers, to know customer investment information and financial profile, and to identify and prevent customer risks.