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25 September | 2.30 p.m. BST
The FATF's proposed revisions to Recommendation 16 mark a significant development in the fight against money laundering and terrorist financing. This recommendation, also known as the "travel rule," requires financial institutions to pass on complete originator and beneficiary information when conducting wire transfers, in order to enhance transparency and traceability of funds.
The FATF first introduced the travel rule in 1996, but the rise of new payment technologies and the evolving global financial system have prompted the need for updates. The consultation process for these revisions began in February 2024, with FATF inviting written comments from interested parties. The Wolfsberg Group, representing a consortium of 13 global banks, submitted their response in early April, highlighting potential issues and concerns with the proposed changes.
Join our webinar on 25 September, where Alan Ketley, Executive Secretary of the Wolfsberg Group, and Francis Marinier, industry expert in compliance and third-party risk management from Moody's will provide insights and perspectives on the proposed changes and their potential impact on the financial sector.
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