ICPTE Blog

In 2016, the EU adopted the Regulation (EU) 2016/679 (General Data Protection Regulation {GDPR}). It replaces the 1995 Data Protection Directive (Directive 95/46/EC) which was adopted at a time when

In 2016, the EU adopted the Regulation (EU) 2016/679 (General Data Protection Regulation {GDPR}). It replaces the 1995 Data Protection Directive (Directive 95/46/EC) which was adopted at a time when

FATF reiterates that all jurisdictions should be vigilant to current and emerging risks from the circumvention of measures taken against the

The Licensed Firm should assess and measure the level of risk based on the following risk factor indicators: Client risk, Service/transaction

Risk assessments should assist Firms to understand their exposure to ML/TF risk and identify and prioritize the areas which focus should be placed in order to combat ML/TF. The risk areas that arise

High risk third countries include any country which is widely known to face strategic deficiencies, problems of bribery, corruption and financial irregularity and whose laws and regulations for

Politically Exposed Person (PEP) means a natural person who is or who has been entrusted with prominent public functions, an immediate close relative of such person as well as a person known

The application of risk based approach is fundamental to comply with the Law, the EU directive and the FATF recommendations. It forms the foundations on which the firms’ AML policies, controls and

Each obliged entity should apply appropriate measures and procedures, on a Risk Based Approach (RBA), to focus its effort in

Flexibility in business is an important element for success. Be flexible and easily adapt new trends allows a company to continue operating

After taking the risk assessment, the next step is to create the AML policies and procedures that your institution will abide by

After taking the risk assessment, the next step is to create the AML policies and procedures that your institution will abide by