Three-quarters of national jurisdictions surveyed by the Financial Action Task Force on Money Laundering (FATF) are partially or completely non-compliant with anti-money laundering guidelines for regulating virtual assets. This is stated in the Group's report.
The Grand Duchy of Luxembourg is creating a special department to combat money laundering. The corresponding decision was made by the country's parliament. This is reported by the Luxembourg Times.
The Isle of Man Central Register has announced it has hired cybersecurity firm SQR to provide “seamless verification” of the identity of beneficial owners of local businesses. This was reported by Global Government Fintech.
Beneficiaries, according to local law, are considered to be persons who control at least 25% of the shares or interests of companies registered in the Isle of Man.
The Pakistani Foreign Ministry is making fundamental changes to the apostille system. According to the SAMAA portal, this is being done in order to "fight the agent mafia."
