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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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EBA publishes fourth Opinion on money laundering and terrorist financing risks across the EU

July 13, 2023

Fourth biennial Opinion on the risks of money laundering and terrorist financing (ML/TF) affecting the European Union’s financial sector. It also sets out what competent authorities and EU co-legislators can do to mitigate those risks.

ESMA seeks first input on detailed rules for crypto markets

July 13, 2023

n this first of three consultation packages, ESMA is seeking input on proposed rules for crypto-asset service providers (CASPs), in particular related to their authorisation, identification and management of conflicts of interests and also how CASPs should address complaints.

UK: Modern Slavery in the Construction Sector – Industry Information

July 13, 2023

Modern slavery is often perpetrated by organised criminals and is the most extreme form of labour exploitation. Common commercial practices can create vulnerabilities in the workforce where criminality can thrive, for example, through complex supply chains, lapses…

White House publishes National Cybersecurity Strategy Implementation Plan

July 13, 2023

This plan details more than 65 high-impact Federal initiatives, from protecting American jobs by combatting cybercrimes to building a skilled cyber workforce equipped to excel in the increasingly digital economy.

FCA fines Bastion Capital London Limited £2.5m for serious financial control failings

July 13, 2023

Bastion executed trading to the value of approximately £49bn in Danish equities and £22.5bn in Belgian equities on behalf of Solo Group clients. The purported trades were carried out in a way that was highly suggestive of financial crime.

US Treasury appoints Andrea Gacki as the new director of FinCEN

July 13, 2023

Ms. Gacki presently serves as the Director of the Office of Foreign Assets Control (OFAC) at the Treasury Department, where she has played a leading role in the United States Government’s implementation and enforcement of economic sanctions during critical national security challenges facing the United States.

EBA publishes fourth opinion on money laundering and terrorist financing risks across the EU

July 13, 2023

Some of the ML/TF risks identified in this Opinion, such as those associated with crypto assets, innovative financial services, the identification of beneficial owners and terrorist financing, had already been identified in previous Opinions on ML/TF risks and continue to be relevant…

Europol publishes spotlight report on criminal networks in migrant smuggling

July 12, 2023

Details main features of modern migrant smuggling networks and explains phenomena such as ‘joint ventures’, where illicit actors cooperate at various stages in the migrant smuggling chain.

MONEYVAL calls on North Macedonia to improve investigation and prosecution to combat money laundering and financing of terrorism

July 12, 2023

Concludes that, having strengthened its legal framework since the last mutual evaluation, North Macedonia has laid the foundations for a sound regime to tackle money laundering and terrorist financing, but needs to improve the implementation of measures in several areas.

EBA consults on draft technical standards on complaints handling procedures under the Markets in Crypto-Assets Regulation

July 12, 2023

Concerns draft regulatory technical standards (RTS) on complaints handling procedures for issuers of asset-referenced tokens (ARTs) under the Markets in Crypto-Assets Regulation (MiCAR).

ESMA seeks industry input on crypto regulatory framework

July 12, 2023

ESMA has published its first consultation package under the Markets in Crypto-Assets Regulation and invites comments from stakeholders by 20 September 2023. ESMA is seeking input on proposed rules for CASPs, in particular related to their authorisation, identification and…

NCA: Money laundering cash couriers smuggled millions in suitcases

July 12, 2023

The couriers, who were paid around £3,000 for each trip and would be booked on business class flights due to the extra luggage allowance, communicated on WhatsApp groups, including one titled ’Sunshine and lollipops’.