000			03006nam a22002537a 4500
005			20250715093711.0
008			250227t2025 xxk|||||o|||| 00| 0 eng d
041			_aeng
110			_aRoyal Institution of Chartered Surveyors
245			_aRICS Draft Professional Standard - Countering Financial Crime, 2nd Edition - Global _ba consultation _h[Electronic resource]
260			_aLondon, _bRoyal Institution of Chartered Surveyors, _c25 February 2025
300			_a21p.
490			_aRICS Consultation
520			_aThis new draft edition has been updated to address the evolving landscape of financial crimes including those driven by the rise of new technologies such as artificial intelligence (AI) and the increasing use of digital currency. There has also been an increase in the use of natural resources such as gold and timber as tools for trade-based money laundering. These resources are often exploited in illegal activities like deforestation or unregulated mining to generate illicit funds, which are subsequently laundered through legitimate markets via online platforms. Summary of updates to the draft professional standard Expanded the glossary with key terms, including Artificial Intelligence, Nominated Reporting Officer, Suspicious Activity Report (SAR), Specially Designated National (SDN), Tipping off, Proliferation Financing, Sanctions and Trade-Based Money Laundering (TBML). Updated to address the evolving landscape of financial crimes, driven by AI, digital currencies, and the rising risks of money laundering due to conflicts, particularly with natural resources like gold and timber in TBML. Enhanced the bribery and corruption section with a deeper analysis of risk categorisation and the importance of periodic reviews. Provided a comprehensive overview of customer due diligence (CDD), including simplified (SDD) and enhanced due diligence (EDD) for money laundering and terrorist financing. Added sections in the professional standard: Trade-Based Money Laundering (TBML): emphasizing vigilance in detecting high-value transactions. Terrorist Financing: including references to UNSC Resolution 2195 and examining supply chains. Electronic Verification: using technology to enhance due diligence speed, quality, and efficiency. Due Diligence Outsourcing: highlighting the option to outsource while retaining firm responsibility. Consultation opened 25 Feb 2025 closes 22 April 2025.
650			_aARTIFICIAL INTELLIGENCE
650			_aFINANCIAL CRIME
650			_aMONEY LAUNDERING
650			_aSANCTIONS
651			_aInternational
710			_aRoyal Institution of Chartered Surveyors
856			_uhttps://consultations.rics.org/gf2.ti/f/1705826/239023525.1/PDF/-/AML_2nd%20edition_for%20consultation_clean_24.02.pdf _zView the consultation document on RICS.org
856			_uhttps://consultations.rics.org/CounteringFinancialCrimeStandard/consultationHome _zView the RICS iConsult homepage on countering financial crime
942			_n0
999			_c122109 _d122109