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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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FATF Annual Report 2021-2022

January 30, 2023

FATF publishes Annual Report 2021-2022 which sets out the achievements of the FATF under the second year of Marcus Pleyer’s Presidency on Beneficial ownership, Digital transformation, Migrant smuggling, New and update guidance, Mutual evaluations…

FCA on Cryptoasset AML/CTF regime: feedback on good and poor quality applications

January 25, 2023

The FCA published detailed feedback for crypto firms on good and poor quality applications under its AML/CTF regime for crypto. This feedback should help applicants when they prepare their application for registration and help make…

FCA commences criminal proceedings for insider dealing and money laundering

January 25, 2023

The FCA has commenced criminal proceedings against five individuals, alleging that they conspired to commit offences of insider dealing between December 2019 and March 2021. In addition to insider dealing, the five individuals are charged with money laundering offences…

MONEYVAL Fifth Round Mutual Evaluation Report on Estonia

January 25, 2023

MONEYVAL urges Estonia to further strengthen measures to combat money laundering and the financing of terrorism, among others by reinforcing the private sector’s capacities and performance as well as improving its law enforcement efforts in this field…

 

OCCRP: What’s a Proxy? Using Relatives, Shell Companies, and Other Stand-Ins to Hide Illicit Wealth

January 24, 2023

OCCRP published a FAQ highlighting that proxies are people that form a crucial part of a sophisticated secrecy industry that undermines the global financial system by letting dirty money flow undetected, unchecked, and uninterrupted around the world…

UK Govt confirms ‘Failure to prevent Fraud’ offence to be added to new UK Economic Crime Bill

January 24, 2023

The UK Government confirms ‘Failure to prevent Fraud’ offence will be added to new UK Economic Crime Bill. The measure will aim principally at professionals such as lawyers, accountants and other intermediaries that do not have reasonable measures in place…

NCA publishes the Suspicious Activity Report (SARs) Annual Report 2022

January 24, 2023

The report shows another record set in the last financial year with 901,255 SARs received and processed – a 21% increase on the previous year. £305.7M denied to suspected criminals as a result of Defence Against Money Laundering (DAML) requests – a 120.6% increase…

Home Office announces crackdown against organised criminal gangs

January 24, 2023

The Police will adopt new ‘Clear, Hold, Build’ tactic, as Home Secretary launches Consultation on new offences to frustrate criminal enterprises. The Consultation will also look at strengthening serious crime prevention orders to make it easier for police and other law…

Fenergo Global AML Fines Research Report

January 24, 2023

The data from Fenergo showed that AML fines globally surged 53 per cent in 2022 while fines to crypto firms rose over 90 per cent as regulators cracked down on financial misconduct. The surge was linked to the huge increase in fines levied at crypto firms, as well as fines…

 

MONEYVAL Fifth Round Mutual Evaluation Report on Monaco

January 23, 2023

Moneyval encourages Monaco to “further strengthen measures to combat ML and TF, in particular when it comes to investigating and prosecuting money laundering, confiscating and recovering proceeds of crime as well as strengthening its supervisory system…

 

FATF updates consolidated assessment ratings

January 20, 2023

An up-to-date overview of the ratings on both effectiveness and technical compliance for all countries assessed against the 2012 FATF Recommendations and using the 2013 Assessment Methodology…

FinCEN issues Enforcement Order against Crypto Exchange Bitzlato in First-Time Use of Section 9714(a)

January 18, 2023

FinCEN determined that Bitzlato is a FI operating outside of the US that is of primary money laundering concern in connection with Russian illicit finance.The order prohibits certain transmittals of funds involving Bitzlato by any covered FI. Bitzlato poses a global threat by allowing…