The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced two countries have been added to the Financial Action Task Force (FATF) watchlist, while another has been removed.
The FATF grey list identifies countries where increased financial monitoring is necessary to combat money laundering, terrorist financing, and nuclear weapons proliferation. FinCEN said Laos and Nepal have been added, while the Philippines have been removed, according to a press release Wednesday.
Laos and Nepal made a “high-level political commitment” to work with the FATF and the Asian Pacific Group on Money Laundering to strengthen the effectiveness of their anti-money laundering/countering the financing of terrorism (AML/CFT) regime, according to an FATF press release Friday.
The European Commission on Monday proposed changes to the way investors pay withholding tax in the European Union, to attract more cross-border trade in securities and help develop the bloc’s
Chinese tax authorities are stepping up efforts to ensure households declare and pay taxes on overseas income, as part of a broader initiative to enhance cross-border tax transparency and bring China’s
The European Union removed Antigua and Barbuda from its tax haven blacklist on Tuesday, an instrument that has been slammed as ineffective in the past by anti-poverty groups. The list, approved by the
Inadequate information-sharing between banks and complacency around current fraud detection systems are posing major challenges to New Zealand’s ability to tackle the growing money laundering and