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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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GIABA publishes follow-up report on Benin

August 6, 2023

Benin has made significant progress in addressing the technical compliance deficiencies identified in its MER and is re-rated on Recommendations 6 and 7 from Partially Compliant to Largely Compliant.

FinCEN officials travel to Mexico for meetings with Mexican counterparts on illicit finance trends associated with fentanyl and other threats

August 4, 2023

Government agencies shared new financial threat information on fentanyl precursor supply chains, human smuggling and trafficking, professional trade-based money laundering, and fraud, all of which enable illicit trafficking networks…

APG Mutual Evaluation of AML/CFT in Laos

August 2, 2023

Identifies significant gaps in the assessment and understanding of national and sectoral ML/TF risks in casinos, real estate, banks, transnational organised crime, corruption, environmental crime and human trafficking, etc, as well as
cross-border risks.

JMLSG publishes proposed amendments to crypto-asset transfers guidance

August 1, 2023

The proposed addition of Annex I to Sector 22 takes account of amendments relating to cryptoasset transfers, as introduced by The ML/TF (Amendment) (No. 2) Regulations 2022. Comments on the proposed revisions should be received by 25th August 2023.

OECD releases paper on “Corruption, accountability & IFF in oil trading”

July 30, 2023

Focusing on the oil sector, and the unique challenges of addressing and regulating the oil commodity-trading sector, this paper examines the Extractive Industry Transparency Initiative (EITI), and the strengths and limits of the EITI Standard, through the lens of transparency…

IMF publishes technical note on AML/CFT in Iceland

July 28, 2023

Finds low level of risk in the jurisdiction.

Guernsey FSC: Thematic Review of managing the risk posed by Politically Exposed Persons

July 27, 2023

FSC undertook onsite inspections to 30 firms across the sectors with the largest exposure to PEPs and found that the controls employed by firms to mitigate PEP risk were effective, with only three of the 30 firms requiring risk mitigation programmes to remediate identified issues.

CFATF conducts Mutual Evaluation of Dominica

July 26, 2023

Recommends a more comprehensive assessment of TF risk, cross-border financial flows, legal persons, non-profit organisations (NPOs), virtual asset service providers (VASPs) and the Citizenship by Investment (CBI) programme

OSFI-Canada launches consultation on regulatory capital and liquidity treatment of crypto-asset exposures

July 26, 2023

OSFI announced two draft guidelines, one for federally regulated deposit-taking institutions and another for insurers, on the regulatory capital treatment of crypto-asset exposures.

ESMA: Inclusion of the UAE on AML blacklist requires ESMA to withdraw the recognition decisions of three CCPs

July 25, 2023

Applies to: Dubai Commodities Clearing Corporation, Dubai Clear LLC and Nasdaq Dubai Ltd.

SRA issues AML/TF risk assessment guidance

July 24, 2023

Firms should assess their risks and target their resources to the areas or products that are most likely to be used to launder money. The UK Government periodically undertakes a National Risk Assessment pulling together risk-based information from all sectors…

EAG conducts Mutual Evaluation of Turkmenistan

July 24, 2023

The report analyses Turkmenistan’s AML/CFT system for compliance with the 40 FATF Recommendations and assesses its effectiveness. The report also contains recommendations for strengthening the existing AML/CFT regime.