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Money Laundering & Terrorist Financing

Over 20 years of articles and reference material

A page dedicated to global, regional, UK and US anti-money laundering developments and initiatives.

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AMLA consults on proposed draft RTS, which set out a simple, proportionate and efficient framework for cooperation between home and host supervisors of cross-border groups of obliged entities

May 11, 2026

The proposals aim to clarify roles between home and host authorities, improve the speed and consistency of information sharing, and establish more structured coordination for supervisory actions such as inspections and risk assessments. Overall, the initiative is designed to reduce fragmentation, close supervisory gaps, and advance a more unified and effective EU-wide AML/CFT supervisory framework…

FCA reports that synthetic data can enhance AML innovation and collaboration by enabling safer data sharing and more effective testing of financial crime detection models

May 10, 2026

The project assessed how synthetic datasets could support the development and validation of AML tools without exposing sensitive customer information, helping firms overcome barriers linked to privacy, confidentiality, and restricted access to real transaction data. Findings also highlight limitations relating to data fidelity, model bias, and governance, with the report recommending continued industry collaboration and technical development to ensure synthetic data remains reliable and effective for AML/CFT applications.

AUSTRAC steps up supervision of virtual asset service providers through targeted compliance campaigns designed to strengthen AML/CFT controls as Australia’s expanded crypto reforms take effect

May 8, 2026

The campaigns focus on over-the-counter crypto providers and local exchanges, with AUSTRAC assessing how effectively firms identify and manage money laundering risks ahead of broader regulatory obligations applying across the sector. Expanded reforms require a wider range of virtual asset businesses to register with AUSTRAC and comply with AML/CFT obligations, reinforcing efforts to close regulatory gaps linked to organised crime and illicit financial flows.

FCA secures a further 499-day jail term for convicted money launderer after he failed to repay a £529,961 confiscation order linked to £2.5M in fraud proceeds, ensuring he remains liable for victim losses

May 8, 2026

In 2021, Richard was originally sentenced to 5 years and 10 months in prison after the FCA successfully prosecuted him for laundering around £2.5 million. He was part of a transnational organised crime group that facilitated proceeds from at least seven overseas investment (“boiler room”) frauds, where victims were misled into fake or high-risk investments. Despite being released from custody in June 2025, Faithfull had only repaid £349,214.37 of the court-ordered amount….

US DoJ Fraud Division announces enforcement actions tackling nearly $1B in fraud schemes across healthcare, tax, and benefits systems, securing major convictions and long prison sentences nationwide

May 8, 2026

The cases include large-scale Medicare and Medicaid scams involving unnecessary medical testing, multimillion-dollar public benefits fraud with international money laundering links, and COVID-19 relief and tax-related abuses, alongside identity theft and bank fraud operations across multiple states. Several defendants have received lengthy prison sentences and significant restitution orders, reflecting an intensified DOJ crackdown through its newly established National Fraud Enforcement Division aimed at strengthening coordinated action against…

Europol disrupts the “Atlantic Cocaine Highway” in major maritime operation, seizing drugs, intercepting vessels, and hitting trafficking networks between Latin America and Europe

May 8, 2026

Over a two-week period, law enforcement agencies from multiple countries carried out coordinated surveillance and interdictions across key maritime corridors, particularly between the Canary Islands and the Azores. The operation resulted in the seizure of substantial quantities of cocaine and hashish, the interception of several vessels used for drug transfers at sea, and the arrest of numerous suspects involved in the trafficking network…

FATF Mutual Evaluation Report praises Singapore’s strong AML/CFT regime but warns of growing risks from foreign illicit finance, cyber fraud and proliferation financing

May 7, 2026

The report highlights strong performance in international cooperation, use of financial intelligence, supervision of financial institutions, and asset recovery, supported by coordinated public-private engagement and responsive policy reform. FATF also identifies gaps relating to beneficial ownership verification, implementation of targeted financial sanctions, and the deterrent effect of penalties imposed in significant money laundering cases, prompting recommendations for further strengthening of the regime…

TI’s report urges the UK Illicit Finance Summit to move beyond pledges with stronger AML enforcement, greater BO transparency, tighter real estate controls and tougher accountability for enablers

May 7, 2026

The recommendations focus on strengthening cross-border access to property ownership data, closing loopholes exploited by lawyers, accountants, and other gatekeepers, and improving enforcement against anonymous wealth structures. The paper also calls for measurable national reforms, stronger international coordination, and meaningful civil society participation to ensure summit commitments translate into effective anti-corruption and AML/CFT outcomes…

FINTRAC strengthens its administrative monetary penalties regime, introducing tougher penalties and enhanced compliance powers for AML/CTF breaches in Canada

May 6, 2026

The case involves violations identified through FINTRAC’s supervisory activities, including failures linked to reporting and compliance control requirements designed to detect and prevent illicit financial activity. Publication of the penalty forms part of FINTRAC’s broader strategy to promote regulatory compliance, strengthen deterrence, and reinforce accountability across reporting entities subject to Canada’s AML/CFT framework…

CoLP reports UK victims lost over £102M to romance fraud last year, with cases rising 29% to 10,784 as criminals increasingly used online platforms and AI to build fake relationships and extract money

May 5, 2026

The data shows criminals are increasingly exploiting online relationships through dating platforms, social media, and messaging apps, where they carefully build emotional trust over weeks or even months before requesting money. These scams often involve fabricated stories such as medical emergencies, travel costs, or fake investment opportunities, including a growing link to cryptocurrency-related frauds. Authorities note that offenders are becoming more sophisticated, increasingly using AI-generated images, fake identities…

GI-TOC’s ‘Wind of Change’ report argues that outdated and fragmented UN anti-crime systems are struggling to keep pace with cyber fraud, illicit finance and trafficking, urging major global reforms

May 4, 2026

The report particularly emphasises the need to reposition the United Nations Convention against Transnational Organized Crime (UNTOC) as the core international legal framework for combating organised crime. Although UNTOC is one of the world’s most widely ratified treaties, the report argues that its operational impact has fallen short due to weak implementation mechanisms, inconsistent political commitment and limited monitoring of member state compliance. GI-TOC contends that many emerging criminal threats — including cyber-enabled fraud, illicit financial flows, environmental crime, trafficking networks, sanctions evasion and online scam operations…

IMF report finds Kosovo’s Central Bank has a broadly strong, internationally aligned transparency framework, supported by solid governance, disclosures, and improving public communication

May 1, 2026

The review highlights strengths including extensive publication of monetary and financial stability information, accessible institutional reporting, and transparent governance arrangements that support accountability and public confidence. Recommendations focus on enhancing disclosure around internal risk management, decision-making processes, audit functions, and anti-corruption safeguards to further align the framework with international best practice…

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