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INTERPOL and the Inter-American Development Bank join forces to tackle organised crime in Latin America and the Caribbean, disrupting illicit markets and boosting regional security

April 25, 2025

The primary focus of their joint efforts will be disrupting illegal markets that fuel criminal activities across the region, including drug trafficking, human trafficking, and arms smuggling. The partnership seeks to strengthen the capacity of national law enforcement agencies, improve regional security measures, and develop coordinated strategies to fight organized crime more effectively. By promoting regional collaboration, the initiative aims…

GIABA commends Senegal’s comprehensive overhaul of its AML/CFT/FP laws, especially Act 2024-08, for effectively closing FATF technical gaps and securing multiple re-ratings of key rec.

April 23, 2025

Since its last review, Senegal has overhauled its AML/CFT/FP framework by enacting a series of laws and decrees—including the landmark Act 2024‑08—that align domestic legislation with the latest WAEMU and FATF standards…

UAE strengthens its global financial standing with the 2024 NRA, showcasing key AML/CFT reforms, FATF grey list exit, 3.9% GDP growth, and advances in open finance, trade, and compliance

April 23, 2025

This report underscores the country’s ongoing commitment to enhancing its financial system’s integrity and stability while aligning with international standards on anti-money laundering (AML) and combating the financing of terrorism (CFT). The assessment highlights key vulnerabilities in the UAE’s financial infrastructure, provides detailed analysis of emerging threats, and sets forth new strategies to combat illicit activities…

Central Bank of Kuwait launches ‘Fraud Shield Initiative Accelerator Program’ to tackle the rise of e-financial fraud by enhancing detection, prevention, and fostering cutting-edge anti-fraud solutions

April 15, 2025

This program brings together a diverse group of stakeholders, including banks, payment service providers (PSPs), fintech innovators, and regulatory bodies, to develop advanced solutions aimed at enhancing fraud detection and prevention across the financial sector. As electronic financial fraud schemes become increasingly sophisticated, the initiative seeks to strengthen consumer protection, ensure regulatory compliance…

MAS consults on AML/CFT rule changes to explicitly include proliferation financing in risk assessments, align with FATF standards, and clarify STR filing expectations

April 8, 2025

MAS consults on amendments to AML/CFT Notices to explicitly include proliferation financing (PF) in money laundering risk assessments and align trustee-related rules with revised FATF standards. It also proposes updates to AML/CFT Guidelines to clarify supervisory expectations and improve the timeliness of suspicious transaction reporting…

AUSTRAC releases new e-learning module on Quality Reporting: Threshold Transaction Reports to enhance reporting accuracy and strengthen AML/CTF compliance

March 31, 2025

This module will help you submit good-quality threshold transaction reports, adhere to best practice and avoid common mistakes. It joins the existing AUSTRAC e-learning suite, designed to increase your understanding of AML/CTF regulations and your compliance obligations…

AUSTRAC warns Crypto ATM providers over weak AML/CTF controls and inadequate due diligence checks, citing growing risks of ML and fraud linked to their use

March 31, 2025

In December, AUSTRAC CEO Brendan Thomas launched an internal taskforce to tackle money laundering and terrorism financing risks linked to crypto ATMs. The taskforce has since engaged with businesses, uncovering concerning trends and potential links to scams and fraud…

MAS proposes a regulatory framework for Single-Currency Stablecoins (SCS), focusing on reserve backing, capital requirements, and transparency, aligned with global cryptoasset standards

March 27, 2025

MAS consults on regulatory measures for stablecoins, emphasizing reserve asset quality, due diligence, and risk management, particularly for Group 1b cryptoassets. The consultation also proposes restrictions on retail investor access to AT1 and Tier 2 capital instruments, alongside amendments to relevant MAS Notices, aligning with global prudential standards for cryptoasset exposures.

Saudi Arabia enforces new UBO rules from 3 Apr 25, requiring most companies to disclose their UBOs to combat financial crime, bolster AML efforts, and align with global standards

March 26, 2025

Saudi Arabia is taking a significant step towards enhancing corporate transparency with the introduction of new Ultimate Beneficial Ownership (UBO) Rules. Effective from April 3, 2025, these rules mandate most companies to disclose their UBOs to the Ministry of Commerce…

INTERPOL’s Operation Red Card busts major cyber-fraud networks across Africa, exposing banking, investment, and msg app scams, and revealing links to human trafficking and digital asset laundering

March 24, 2025

Interpol is not only broadening its focus on cyber-enabled financial scams but also taking decisive action through a coordinated, international investigation. It highlights the significance of dismantling cybercrime networks that exploit financial systems and digital platforms. The inclusion of “cross-border” emphasizes the international nature of the operation, reinforcing the global effort to combat financial crime…

GII assesses Ghana’s progress in BO transparency, noting legal advances but highlighting challenges like limited public access, inconsistent definitions, and enforcement gaps

March 20, 2025

Illicit financial flows drain Africa’s resources, undermining public services and economic growth. Ghana is tackling this through beneficial ownership transparency, with key legal reforms in place, but challenges in access, enforcement, and consistency remain…

MENAFATF praises Egypt for key AML/CFT advancements, such as expanding DNFBP definitions, tackling virtual asset risks, and implementing a system to identify unlicensed MVTS