by Jyotsna Bucktowar | May 24, 2024 | News
FINTRAC issues an advisory on the role of virtual currency automated teller machines in laundering the proceeds of crime. FINTRAC observed that once the funds were placed into virtual currency automated teller machine terminals, they were sent to multiple intermediary...
by Jyotsna Bucktowar | May 23, 2024 | News
FCA proposes to update its Financial Crime Guide on sanctions, proliferation financing and transaction monitoring. As firms operating in the UK’s AML regulated sector will be aware, the FC Guide aims to enhance understanding of the FCA’s expectations and...
by Jyotsna Bucktowar | May 22, 2024 | News
ICIJ reports that leaked Dubai property files reveal links between luxury apartments and scammers from the One Coin cryptocurrency scheme. The 2022 data reveal that dozens of criminals, including mafia bosses and individuals sanctioned for financing al-Qaida and other...
by Jyotsna Bucktowar | May 10, 2024 | News
HM Treasury released its annual AML/CTF Supervision Report for the period April 2022-2023, offering a timely insight into the activities of the UK’s 25 AML supervisors. This report provides information about the performance of AML/CTF supervisors, including...
by Jyotsna Bucktowar | May 7, 2024 | News
US Law Enforcement has taken action against over 3,000 money mules, disrupting transnational fraud schemes. Fraudsters rely on money mules to facilitate a range of fraud schemes, including those that predominantly impact older Americans, such as lottery fraud, romance...
by Jyotsna Bucktowar | May 6, 2024 | News
NCA unmasks LockBit cyber-crime gang leader by infiltrating the group’s network, taking control of its services, including its leak site on the dark web. LockBit provided ransomware-as-a-service (RaaS) to a global network of hackers or ‘affiliates’, supplying them...
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