In from the cold - Iceland

Since a frosty Financial Action Task Force assessment in 2018, Iceland has worked hard to upgrade its AML/CFT regime, albeit was subject to increased monitoring across the year to October 2020. Enhanced oversight of non-financial businesses and professions and virtual asset service providers, a publicly beneficial ownership register for companies and another, central registry of bank accounts in the works have all contributed to a thaw in the evaluators' attitude, finds Keith Nuthall.

Since a frosty Financial Action Task Force assessment in 2018, Iceland has worked hard to upgrade its AML/CFT regime, albeit was subject to increased monitoring across the year to October 2020. Enhanced oversight of non-financial businesses and professions and virtual asset service providers, a publicly beneficial ownership register for companies and another, central registry of bank accounts in the works have all contributed to a thaw in the evaluators' attitude, finds Keith Nuthall.