Most people will be aware that the COVID-19 pandemic has led to unprecedented global challenges, human suffering and economic disruption.
Regrettably, criminals are taking advantage of th
Most people will be aware that the COVID-19 pandemic has led to unprecedented global challenges, human suffering and economic disruption.
Regrettably, criminals are taking advantage of the COVID-19 disruption to carry out financial fraud and exploitation scams. The Financial Action Task Force (FATF) has recently issued a paper* on COVID-19 related Money Laundering and Terrorist Financing risks and policy responses. In addition, the European Banking Authority (EBA) has warned national regulators and banks that evidence is already emerging of new criminal activity linked to the deadly spread of the virus.
Both agencies conclude that financial institutions and other businesses should remain vigilant to emerging ML and TF risks and ensure that they continue to effectively mitigate these risks and are able to detect and report suspicious activity.
This briefing will highlight key developments that may impact your firm’s business or its clients. Included in the briefing is access to some interesting background research and recent publications.
