Our extensive knowledge at your fingertips

Latest editions

Search

Reuters: FATF places Lebanon on financial crime watchlist

October 22, 2024

FATF announced that it has placed Lebanon on its grey list for countries under increased scrutiny. Lebanon, which has been grappling with a financial crisis since 2019 exacerbated by Israeli airstrikes and operations against Hezbollah, has received some leeway regarding deadlines in its action plan. Prime Minister acknowledged that Lebanon’s grey listing was anticipated due to the ongoing challenges in approving essential financial legislation…

AP News: Albania’s former left-wing President Meta has been arrested on corruption charges

October 21, 2024

Albanian prosecutors have arrested former President on charges of corruption, ML and concealing personal income and assets. President contends that the allegations are politically motivated, while former EU ambassador welcomed the arrest as evidence that no one is above the law. The Special Structure Against Corruption and Organized Crime reported that President’s arrest followed a five-year investigation…

BBC: Ireland has signed extradition treaties with the UAE

October 21, 2024

The Republic of Ireland and the United Arab Emirates (UAE) have signed two bilateral treaties focused on extradition and mutual legal assistance. Irish Justice Minister finalized the agreements in Abu Dhabi with UAE counterpart after negotiations initiated last year to address organized crime and drug trafficking. These treaties are anticipated to enable the extradition of a prominent member of the organized crime gang back to Ireland…

FinCEN hosts Regional Training Event in Botswana to combat money laundering

October 20, 2024

The training event brought together delegations from Angola, Botswana, Comoros, Eswatini, Lesotho, Madagascar, Namibia, and South Africa, along with facilitators and trainers from the United States and from Canada’s Financial Transactions and Reports Analysis Centre, to improve the capabilities of government agencies to investigate and address priority illicit finance threats, including those related to the illegal wildlife trade (IWT). CIFT training is designed to provide capacity-building, case studies, and targeted training to personnel from participating governments’ financial intelligence units, law enforcement agencies, regulatory bodies, and prosecutors.

ICIJ exposes link between Brazil’s largest criminal organisation and Panama Papers in police investigation

October 18, 2024

A police report obtained by ICIJ partner Agência Pública claims an offshore company created by Mossack Fonseca in 2012 is part of a cluster of firms that allegedly laundered money from drug trafficking…

Canada joins US to designate sham charity that supports a foreign terrorist organisation

October 17, 2024

Samidoun has been listed as a terrorist entity by Germany. Samidoun has close links with and advances the interests of the Popular Front for the Liberation of Palestine (PFLP), which is a listed terrorist entity in Canada, the United States and the European Union.

CFTAF finds that Suriname has made significant progress to address AML/CFT shortcomings, with 9 out of 40 recommendations being re-rated

October 14, 2024

Re-ratings in the latest enhanced follow-up report reflect steps taken by Suriname to improve the regime with respect to record keeping, higher-risk countries, the reporting of suspicious transactions, the regulation and supervision of FIs, the powers of supervisors, DNFBPs, responsibilities of law enforcement and investigative authorities, and provisions relating to cash couriers.

CFATF re-rates St Lucia on 7 out of the 40 Recommendations in latest enhanced follow-up report

October 14, 2024

St Lucia is now largely compliant with recommendations 15, 26, 28, 33 and 30, covering, among other topics, new technologies, DNFBPs and freezing and confiscation with respect to mutual legal assistance.

AUSTRAC collaborates with partner agencies including the Australian Taxation Office to combat ML and other crimes through initiatives like the Serious Financial Crime Taskforce

October 12, 2024

In 2018, a joint investigation by the SFCT revealed a major international criminal syndicate that exploited stolen identities from darknet markets to commit large-scale cybercrimes, resulting in the opening of over 60 Australian bank accounts and an estimated theft of US $3.3 million. The group laundered US $2.5 million by transferring funds to an offshore contact in Asia, who then purchased luxury goods and remitted the proceeds back to the syndicate…

HKMA publishes consultation conclusions on information sharing among Authorised Institutions to aid in prevention or detection of crime

October 11, 2024

The HKMA launched a public consultation on 23 January 2024 to seek views from the banking sector and the public on proposals to facilitate sharing of information among AIs of information on customer accounts (including personal customers) for the purposes of preventing and detecting crime. The aim of the proposals is to help protect bank customers and the banking system against abuse for fraud, money laundering and terrorist financing (ML/TF).

FINTRAC updates AML/CFT guidance for Canadian mortgage administrators

October 11, 2024

Guidance aims to help business determine if FINTRAC’s anti-money laundering and anti-terrorist financing requirements apply to them.

FATF re-rates Japan on six Recommendations in recognition of the country’s progress since the 2021 Mutual Evaluation

October 10, 2024

Reflects improvements in measures targeting proliferation, NPOs, Politically exposed persons and DNFBPs; as well as new focus on the transparency and beneficial ownership of legal arrangements.

No results found.