Thursday, December 9, 2021

terrorism financing

FATF keeps Pakistan on terrorism financing ‘grey list’

Global money-laundering watchdog the Financial Action Task Force (FATF) on Thursday said it would keep Pakistan on its terrorism financing “grey list”. FATF had placed Pakistan on its “grey list” of countries with inadequate controls over terrorism financing in 2018,...

Pakistan arrests Mumbai terrorist attack mastermind Zaki ur Rehman Lakhvi on terrorism financing charge

Pakistan on Saturday arrested a man accused of being a leader of an Islamist militant group blamed by the United States and India for the 2008 Mumbai attacks, a counter-terrorism official said. The arrest is in relation to terrorism financing,...

Is COVID-19 a Detriment to Terrorist Financing Despite Regulator Claim?

Financial regulators and risk advisory firms have sounded the alarm on the COVID-19 pandemic and how it creates an environment rife with new terrorist financing vulnerabilities. Inter-governmental task forces, banks, and law firms alike claim that foreign terrorist organizations (FTOs)...

Mumbai terror attack mastermind Hafiz Saeed sentenced to 10 years in prison

Hafiz Saeed, the mastermind of the 26/11 Mumbai attacks, has been sentenced to 10 years in two terror cases by a court in Pakistan, news agency PTI reported. This was not the first time that Hafiz Saeed, chief of the...

Singapore to stop issuing $1,000 notes over money laundering concerns

The Monetary Authority of Singapore (MAS) will stop issuing the $1,000 note from January next year, to minimise the money laundering and terrorism financing risks associated with such a large denomination. From now till January, the MAS will also limit...

Pakistan removes thousands of names from its terrorist watch list

Pakistan has removed thousands of names from its terrorist watch list in what the country says is an effort to meet its obligations ahead of a new round of assessments by a global anti-money-laundering watchdog. The so-called proscribed persons list,...

Saudi businessman accused of bribing officials to get his mother investigated for funding terrorism

A Saudi businessman has been investigated for bribing officials to investigate his own mother for funding terrorism after a fallout between them, according to local reports. The unnamed businessman paid four million Saudi riyals (£800,000) to bring the false case...

Money laundering and terrorist financing still a concern in Europe – ESA

Three European Supervisory Authorities (ESAs) have published their second joint opinion on the money laundering (ML) and terrorist financing (TF) risks impacting the European Union’s (EU) financial industry. These include the European Banking Authority (EBA), the European Insurance and Occupational...

EU Doesn’t Prosecute for Money Laundering, Financing of Terrorism and Corruption

A Modest Proposal The European Union (“EU”) recently has grappled with a series of massive money laundering scandals and strategized about how to more effectively combat international money laundering and corruption. Generally, the EU has continued to issue a series...

Costa Rica updates mechanisms to prevent money laundering and terrorist financing

Costa Rica is preparing with an inter-institutional action plan for the evaluation of its anti-money laundering system and against terrorist financing in 2020 in compliance with the International Standards issued by the Financial Action Task Force (on Money Laundering)...

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Former Malaysian Prime Minister Loses Appeal of 1MDB Conviction

A Malaysian court on Wednesday upheld former premier Najib Razak's conviction on corruption charges over a multi-billion dollar scandal...