OPINIONSNew company ownership regulation a step in right direction 06 May 2022, 9:06 By Mashudu Masutha and Karabo RajuiliFirst published on News24 The Financial Action Task Force (FATF) is the global standard-setting body for combating money laundering, setting minimum standards via 40 recommendations. It has sanctioning mechanisms for countries that fail to comply. Recently, the organisation updated its Recommendation 24, which deals with beneficial ownership transparency – and Read more >
PRESS RELEASES CW welcomes new global standard on beneficial ownership transparency 07 Mar 2022, 11:26 During formal meetings in Paris last week, the Financial Action Task Force (FATF) approved a revision of its recommendation 24, ushering in a new global standard on beneficial ownership transparency. This is a win for the fight against corruption, money laundering and other financial crimes around the world. It is also a collective victory for Read more >
CORRUPTION NEWS CW and other TI chapters urge FATF to move on beneficial ownership registers 22 Feb 2022, 11:57 Global anti-corruption organisation Transparency International (TI) has long been advocating for the establishment of a global standard for centralised, publicly accessible beneficial ownership registers – whose stored information has been verified. The organisation firmly believes such registers would allow everyone to see the true beneficiaries of anonymous companies, and help authorities, journalists and civil society Read more >
OPINIONS Combating corruption is key to creating a sustainable path of future growth for SA 10 Dec 2021, 15:57 By Petrus Marais and Karam SinghFirst published on City Press Business success – and survival – relies largely on developing a strategy that takes into account various scenarios, considers mitigating factors, makes certain assumptions, spotlights threats and charts a course for the future. Three years ago very few C-suite executives factored in a global pandemic Read more >
CORRUPTION NEWS SA good on legal anti-money laundering framework, poor on implementation 23 Nov 2021, 14:10 In October the Financial Action Task Force (FATF) released its mutual evaluation report on South Africa, following an assessment of the country’s anti-money laundering, counter financing of terrorism and counter financing of proliferation of weapons of mass destruction (AML/CFT/CPF) systems. The mutual evaluation was conducted by a team led by the International Monetary Fund and including officials from the Eastern and Southern Africa Anti-Money Laundering Group and FATF member countries. The team assessed compliance Read more >
CORRUPTION NEWS Financial crime more difficult with true owner transparency 10 Nov 2021, 15:43 Our new mini-series shines the spotlight on the current Financial Action Task Force (FATF) beneficial ownership review process. Part 1 presented the particular issues the organisation has recently sought input on, part 2 examined the five recommendations submitted by Transparency International as a response to the FATF invitation, part 3 looked at the FATF draft amendments in response to the call for Read more >
CORRUPTION NEWS Tighter beneficial ownership regulations in FATF proposal 05 Nov 2021, 13:45 Our new mini-series shines the spotlight on the current Financial Action Task Force (FATF) beneficial ownership review process. Part 1 presented the particular issues the organisation has recently sought input on, part 2 examined the five recommendations submitted by Transparency International as a response to the FATF invitation, this article – part 3 – looks at the FATF response to the submissions Read more >
CORRUPTION NEWS Beneficial ownership register is imperative, says TI 04 Nov 2021, 9:59 Our new mini-series shines the spotlight on the current Financial Action Task Force (FATF) beneficial ownership review process. Part 1 presents the particular issues the organisation has recently sought input on, this article – part 2 – examines the five recommendations submitted by Transparency International as a response to the FATF invitation, part 3 looks at the FATF proposed amendments, and part Read more >
CORRUPTION NEWS FATF takes steps to beef up global beneficial ownership transparency 14 Oct 2021, 14:59 Our new mini-series shines the spotlight on the current Financial Action Task Force (FATF) beneficial ownership review process. Part 1 presents the particular issues the organisation has recently sought input on, part 2 examines the five recommendations submitted by Transparency International as a response to the FATF invitation, part three looka at the FATF response to the call for submissions, and part Read more >