FATF’s consultation on new UBO-legislation | Recommendations 24, 25 | AML, CFT

FATF announced today that publication of its new legislation (‘recommendations’) is to be expected in February 2023 and that it has released two documents for public consultation (until 6 December):

Financial Action Task Force (FATF)

The FATF is working to improve global beneficial ownership rules to help stop criminals, kleptocrats and sanctions evaders from hiding their illicit activities and dirty money behind shell companies. The FATF is releasing two documents for public consultation.

1: A guide to changes for FATF’s Recommendation 24 and its Interpretive Note. This requires countries to prevent the misuse of corporate structures or legal persons. See more: https://bit.ly/3zhi9B4

2: Proposed modifications to FATF’s Standard on beneficial ownership for trusts and other legal arrangements, Recommendation 25. See more: https://bit.ly/3gKzWKa

The FATF seeks to hear a range of views, including from companies and other legal persons, financial and non-financial sector businesses, and non-profit organisations. Both public consultations close on 6 December.

The FATF expects to finalise the guidance and the changes to Recommendation 25 in February 2023

#FollowTheMoney #publicconsultation #consultation #amlcft #moneylaundering #terroristfinancing #beneficialownership


Who is FATF?
FATF is the undemocratic world government led by the US, that through ‘standards’ and ‘recommendations’ sets rules for the whole world. Rules set by FATF lead to impracticable bureaucracy and create discrimination and exclusion (‘de-risking’). The organisation promotes financial surveillance of every citizen, company and organisation. The crime fighting concepts of FATF are the basis for the draft-legislation on financial surveillance by Dutch banks submitted to the Dutch parliament on 21 October this year.

Over Ellen Timmer

Weblog: https://ellentimmer.com/ ||| Microblog: https://mastodon.nl/@ellent ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
Dit bericht werd geplaatst in English - posts in English on this blog, Financieel recht, onder meer Wft, Wtt, Fraude, witwasbestrijding, Wwft, Grondrechten, ICT, privacy, e-commerce, Ubo-register en getagged met , , , , , , , , . Maak dit favoriet permalink.

Geef een reactie

Vul je gegevens in of klik op een icoon om in te loggen.

WordPress.com logo

Je reageert onder je WordPress.com account. Log uit /  Bijwerken )


Je reageert onder je Twitter account. Log uit /  Bijwerken )

Facebook foto

Je reageert onder je Facebook account. Log uit /  Bijwerken )

Verbinden met %s