Foreword
by Ces Iewago, Managing Partner
Welcome to the February 2025 edition of KPMG PNG Kundu. This month, we explore key topics impacting Papua New Guinea.
We discuss the potential consequences of PNG’s grey-listing by the Financial Action Task Force (FATF), highlighting the challenges and long-term effects on the economy and banking sector.
We also address the importance of cyber security in PNG, emphasizing proactive measures to protect sensitive data and avoid financial and reputational damage.
Additionally, we provide updates on tax matters, including the IRC's new circular on Section 65A and the upcoming Income Tax Act.
We hope you find this edition insightful and welcome your feedback.
The likelihood and consequences of PNG’s grey-listing by FATF
by Karen McEntee
It seems there is one certainty in the Land of the Unexpected and this is the inevitability of the grey-listing of PNG by The Financial Action Task Force (FATF).
FATF is the global money laundering and terrorist financing watchdog. More than 200 countries and jurisdictions have committed to implement the FATF’s Standards.
Don’t wait for a breach to act: address the low-hanging fruit
By Happymabel Ketias-Zingunzi
In today's rapidly evolving digital landscape, cyber security remains a top priority for organizations worldwide and Papua New Guinea is no exception. Despite the increasing sophistication of cyber threats, many of the risks we encounter are surprisingly simple to mitigate.
Other topics covered include:
KPMG Kundu newsletter series
Learn about key regulatory and geopolitical issues affecting the business entities in the PNG region.
