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ESAAMLG publishes report on illicit dealings in gold, diamond and rubies and related ML/TF

March 14, 2023

The report includes a list of risk indicators and case studies that can help the concerned institutions in the ESAAMLG Region to identify and investigate illicit activities in the precious stones and metals markets, and also highlights the importance of rapidly identifying…

FATF issues report on Countering Ransomware financing

March 14, 2023

The report analyses the methods that criminals use to carry out their ransomware attacks and how payments are made and laundered. Criminals are almost exclusively using crypto, or virtual assets and have easy access to virtual asset service providers around the world…

UK Govt publishes TCSP Guidance for ML supervision

March 13, 2023

UK Govt publishes Trust or company service provider Guidance for money laundering supervision, which helps trust or company service providers meet their requirements for money laundering supervision, including CDD, record keeping and reporting suspicious activity…

FCA takes further action against unregistered crypto ATMs

March 13, 2023

The FCA has used its powers to inspect several sites in East London suspected of hosting illegally operating crypto ATMs, as it continues its crackdown on the illicit sector. The FCA is working with the NECC to plan and coordinate action with law enforcement partners…

FATF publishes Guidance on Beneficial Ownership of legal persons

March 10, 2023

The guidance will help countries identify, design and implement appropriate measures in line with the revised Recommendation 24 to ensure that beneficial ownership information is held by a public authority or body functioning as a beneficial ownership registry…

NICE Actimize 2023 Fraud Insights Report reveals attempted Fraud Transactions have increased

March 9, 2023

The report indicated that from 2021 to 2022, attempted fraud transactions skyrocketed by 92% and attempted fraud amounts have soared by 146%. This alarming trend highlights there is a dramatic increase in overall transaction volumes and fraudsters are becoming bolder…

OECD calls on Iceland to improve detection of foreign bribery

March 7, 2023

Iceland needs to increase the use of proactive steps to gather information from diverse sources at the pre-investigative and investigative stages both to increase the sources of allegations and enhance investigations. Other areas for improvement include stepping up efforts…

NCA issues Guidance on submitting better SARs

March 6, 2023

When submitting a SAR to the NCA reporters must refer to the published guidance from their own regulatory body and their own internal guidance. the reason for suspicion a description of the property concerned (including value where possible) the prohibited act that they wish to carry out.

EGBA publishes Guidelines on fighting ML/TF for the European online gambling sector

March 6, 2023

EGBA has published its first pan-European guidelines to support the online gambling sector’s contribution to Europe’s fight against money laundering. The guidelines reflect the latest technologies and laws and build upon EGBA’s commitment to promote…

Sayari on Guess Who: Disambiguating Entities with Identical Names

February 28, 2023

The most efficient way to disambiguate entities is using a unique identifier. A unique identifier is a numeric or alphanumeric string that is associated with a single entity within a system. If you see a unique ID referenced in multiple places, you can be confident that they…

FATF publishes Report on ML/TF in the Art and Antiquities Market

February 27, 2023

The report includes a list of risk indicators that can help public and private sector entities identify suspicious activities in the art and antiquities markets, and also highlights the importance of rapidly identifying and tracing cultural objects involved in ML/TF…

FATF calls for EDD on High-Risk Jurisdictions

February 24, 2023

For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and, in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from ML/TF/PF risks…