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Money Laundering & Terrorist Financing

Europe

This section covers AML/CTF initiatives by European Commission, Council of Europe MONEYVAL, European Parliament, Europol and other related EU organisations.

New EU AML Package
Sixth EU ML Directive
Fifth EU ML Directive 
Fourth EU ML Directive 
Third EU ML Directive
European Commission Financial Crime
European Parliament Committee on Organised Crime, Corruption and ML
European Banking Federation Annual Overview of AML legislative measures
Europol Law Enforcement updates
MONEYVAL Evaluations
MONEYVAL Typologies

And many more…

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MONEYVAL reports on the progress of Moldova since its Mutual Evaluation and first follow-up report

June 12, 2024

Following the review of Moldova, 34 recommendations are rated as LC/C and 6 recommendations (R.8, R.15, R.22, R.24, R.25 and R.38) remain rated as PC.

MONEYVAL releases second enhanced follow-up report on Gibraltar’s progress who improved compliance with international agreements on ML/TF

June 12, 2024

In light of the progress made by Gibraltar since its Mutual Evaluation and 1st Follow-Up report were adopted, its technical compliance with Recommendation 36 is re-rated from Partially Compliant to Largely Compliant.

 

Eurojust supports authorities in dismantling EUR 113 million fraudulent investment scheme

June 12, 2024

The organised crime group (OCG) used an investment model that focused on the leasing and subleasing of cryptocurrency machines, such as exchange machines and hardware for mining. The suspects were able to target thousands of victims, causing losses of up to EUR 113 million. During an action day on 11 June, six arrests were made, 29 searches were conducted and the suspects’ assets were frozen…

Europol releases podcast on 3D-printed weapons, shedding light on how terrorists are exploiting this technology, and what Europol and our partners are doing to keep Europe safe

June 11, 2024

This episode of The Europol Podcast sheds light on how terrorists are exploiting this technology, and what Europol and our partners are doing to keep Europe safe

 

 

Eurojust publishes first report on the use of encrypted communications in criminal investigations, stressing the balance between privacy and security, while enabling investigations and prosecutions to combat organised crime and terrorism

June 10, 2024

Gives an overview of the use of encrypted communication tools such as EncroChat and SkyECC by criminal networks and analyses the topic of encryption from a legal, technical, policy and research point of view.

 

 

Finews: UBS was fined by the EFD for failing to report suspected ML cases related to the former Yemeni president

June 10, 2024

UBS recorded 5,438 warning notices in connection with its relationships with former president Ali Abdullah Saleh. However, the bank did not forward these warnings to the Money Laundering Reporting Office Switzerland. UBS also failed in the handling large amount of money associated with corrupt practices by Saleh to be withdrawn from state control. Saleh lost power in Yemen in 2012 and was killed by Houthi fighters…

Race begins for AMLA Chair: This selection procedure is subject to the publication and entry into force of the EU’s AML/CFT regulation…

June 9, 2024

The new AMLA Chair will be responsible for: Acting as the head and legal representative of the AMLA, Preparing the Authority’s work, as well as of the Authority’s Executive Board, Managing the Authority, supervising its operations and Being accountable to the European Parliament and to the Council for the implementation of the AMLA Regulation…

MONEYVAL publishes AML/CTF follow-up reports evaluating progress by Republic of Moldova in implementing the FATF recommendations

June 9, 2024
The Republic of Moldova has made notable progress in enhancing its measures against terrorism financing and the spread of weapons of mass destruction, achieving ‘Largely Compliant’ ratings with international standards. MONEYVAL notes that Moldova has made only limited progress in regulating virtual assets and service providers, retaining a partial compliance rating in this sector…

 

MONEYVAL addresses Gibraltar has enhanced its preventive framework to combat ML and terrorism financing

June 9, 2024
Gibraltar has enhanced its anti-money laundering and counter-terrorism financing measures, leading the Council of Europe’s MONEYVAL to upgrade its rating from ‘Partially Compliant’ to ‘Largely Compliant’ with international standards. This improvement follows Gibraltar’s alignment with UN conventions and effective implementation of legislation against illicit activities…

ESAs publish joint annual report for 2023

June 7, 2024

The main areas of cross-sectoral focus were joint risk assessment, sustainable finance, digitalisation, consumer protection, securitisation, financial conglomerates, and central clearing.

EPPO conducts searches in Romania and Spain in probe into €10 million fraud

June 7, 2024

In an investigation led by the European Public Prosecutor’s Office (EPPO) in Bucharest (Romania), several searches were carried out in Romania and Spain, as part of an investigation into a €10 million procurement fraud involving EU funds for the modernisation of water infrastructure and the improvement of energy efficiency.

Egmont Group plenary hosted by the FIU of France (Tracfin) took place from June 2 – 7, 2024, in Paris, France

June 7, 2024

Egmont discussions highlight the complexity of ML and CFT activities, which account for 2-5% of global GDP, and the ability of criminal organizations to adopt sophisticated structures…

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