Together with ICAEW, The International Federation of Accountants (IFAC) today released the fourth installment in its Anti-Money Laundering: The Basics educational series: Installment 4: Asset Transfers.  

The publication is part of a 6-month short series helping accountants enhance their understanding of how money laundering works, the risks they face, and what they can do to mitigate these risks and make a positive contribution to the public interest. Installment four examines asset transfers, one of the primary ways in which criminals layer or integrate the proceeds of crime into the legitimate economy.

Anti-Money Laundering: The Basics is featured on both the IFAC and ICAEW websites and available for download for free. IFAC is featuring the series on a new landing page alongside other relevant information on anti-money laundering (AML).

To be globally relevant, the Anti-Money Laundering: The Basics  series uses the risk-based approach of the Financial Action Task Force (FATF) – the global money laundering and terrorist financing watchdog -- as a starting point. 

For more information about IFAC, visit www.ifac.org.

For more information about ICAEW, visit https://www.icaew.com/.

Nancy was appointed to the IFAC PAIB Advisory Group in January 2021. She was nominated by the Hong Kong Institute of Certified Public Accountants (HKICPA).

Ms. Tse is currently an Independent Non-Executive Director of The Wharf (Holdings) Limited (WHL), which is listed on the Hong Kong Stock Exchange; DBS Bank (Hong Kong) Limited as well as HSBC Provident Fund Trustee (Hong Kong) Limited- HPFT. She is also the Chairman of the Board of HPFT. She was previously an Independent Non-Executive Director of Link Asset Management Limited (Manager of the Link Real Estate Investment Trust–REIT), retiring in July 2023 after 9 years of service. 

She is the former Chief Financial Officer and Director (Finance and Information Technology Services) of the Hong Kong Hospital Authority, a statutory body which manages all of the public hospitals and outpatient clinics in Hong Kong.

She also serves on the boards or committees of a number of charitable organizations and NGOs. She was a member of the Board of Governors of the Prince Philip Dental Hospital until 2023, having served for 6 years. She is an Adjunct Professor of The Jockey Club School of Public Health and Primary Care of the Chinese University of Hong Kong.  She has been active in corporate governance projects and is an honorary advisor and member of Oversight, Policy and Governance Committee of the Hong Kong Financial Reporting Council.

Tim Herrod is the CEO and Co-Founder of InTension Inc., a consultancy dedicated to driving transformative strategies and innovative solutions for clients. With almost 30 years of experience, Tim excels in delivering substantial business value and customer-centric operational excellence including significant improvements in cost culture, profitability, safety, and successful digital innovation. His strategic leadership has led to the creation of high-performing teams and transformative outcomes across various sectors.

Previously, Tim served as Vice President of Global Procurement at Albemarle Corporation, leading a $5 billion procurement transformation. At Federated Co-operatives Limited, he drove a $4 billion procurement overhaul as Senior Transformation Advisor and Head of Procurement. Tim's 14-year tenure at PotashCorp and Nutrien included leading major strategic transformations in procurement and treasury, and five years managing the company’s award-winning corporate relations, investor relations and sustainability function.

Tim's commitment to the accountancy profession is reflected in over 20 years of active leadership, governance and facilitation on numerous CPA Canada/CPA Saskatchewan councils, advisory boards, committees and education delivery including, currently, CPA Canada’s representative on the International Federation of Accountants (IFAC) Professional Accountants in Business Advisory Group.

CA. Nihar N Jambusaria was appointed to the IFAC PAIB Advisory Group in January 2021.

CA. Nihar N Jambusaria has been elected as the Vice President of ICAI for the year 2020-21. CA. Jambusaria was in practice for nearly 27 years.

CA. Jambusaria is now Vice-Chairman of all Standing Committees including Executive, Finance and Examination Committees, besides being the ex-officio member of all Non-Standing Committees of ICAI. He is Director of the ICAI Research wing ICAI – Accounting Research Foundation (ARF) and Extensible Business Reporting Language (XBRL) India. CA. Jambusaria is appointed as Director of ICAI Registered Valuers Organisation (RVO).

CA. Jambusaria has been nominated as ICAI representative as Member for Committee on Corporate Governance Guidelines for Insurers of IRDA in India. He has also been nominated on the Review Committee for the B.Com (Hons) and B.Com Commerce New Syllabus for all the Universities in the Country by the University Grants Commission(UGC).

Jambusaria has represented ICAI in many important committees constituted by the Government Ministries/ Regulators. He was a Member of the e –Commerce Committee formed by the Ministry of Finance and Peer Review Committee of the Central Board of Direct Taxes.

CA. Jambusaria has been a prolific speaker at national and international forum and addressed more than 900 seminars / conferences.

Ms. Daping Gao was appointed to the IFAC PAIB Advisory Group in January 2020.

Daping is a Deputy Director-general of Accounting Regulatory Department of the Ministry of Finance of the People’s Republic of China. She is a Certified Public Accountant (non-practicing) and Senior Accountant in China.

With professional experiences over 20 years, she has played an important role in management accounting, accounting standards and CPA regulation as well as the Product Cost Accounting Rules for Business Enterprises in China.  Revenue, Consolidated Financial Statements, Long-term Equity, Joint arrangements, Disclosure of Interests in Other Entities and Foreign Currency Translation are the major standards that she has been involved in. She has also been engaged in developing interpretations of Chinese Accounting Standards for Business Enterprises, Product Cost Accounting Rules for Business Enterprises and several other accounting regulations. She played a key role in the development of China’s management accounting system, which consists of a basic guideline, 34 application guidelines and a case library currently in nearly five years.

Dr. Kobayashi is a professor emerita, Waseda University, and has served as a senior auditor, Waseda. She was a president of the Board of Audit of Japan from 2018-2019, and the deputy president of the Board of Audit of Japan from 2013-2018. Dr. Kobayashi was the chair of JICPA Self-Regulatory Monitoring Conference from 2021-2025. She is the chair of the Subcommittee on Financial Inspection, Intellectual Property Committee, Industrial Structural Council from 2021. She was also a member of a JICPA project team studying governance for public service deliverers from 2023-2025.

In Japan, Dr. Kobayashi was a member of the Fiscal System Council; Business Accounting Council; Secretariat of Supervisory Commission for Public-Private and Private-Private Competitive Tenderings; Committee for the Promotion of the Private Finance Initiative; and Commission on Policy Evaluation and Evaluation of Incorporated Administrative Agencies, Ministry of Internal Affairs and Communications. Dr. Kobayashi was also a member and chief of executive committee for the working group on local public enterprise strategy throughout the 21st century for the Local Public Enterprise preCommunications, and an expert advisor for the Committee for the Promotion of the Private Finance Initiative.

Dr. Kobayashi earned a PhD in commerce at Waseda University and has published many articles and books including, the Management Accounting for the Government.

Her Technical Advisor is Takeo Fukiya.