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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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Europol’s EMPACT 2024 Results Factsheets highlight the disruption of illicit financial networks, €1BN in seized assets, and recovered funds across major crimes, urging the need for stronger collaboration

September 30, 2025

The report highlights the effectiveness of cross-border cooperation and intelligence sharing in disrupting criminal networks across priority areas such as drug trafficking, cybercrime, and human trafficking. It underscores the EU’s strategic commitment to data-driven, multi-agency enforcement to enhance collective security and resilience…

FinCEN postpones the reporting requirements under the AML Regulations for Residential Real Estate Transfers Rule until 1 Mar 2026 – to reduce compliance burden and ensure effective regulation

September 30, 2025

This decision aims to reduce business burdens while maintaining effective regulation to protect the U.S. financial system from illicit activities….

US BIS issues an interim final rule extending export restrictions to entities 50%+ owned by listed or military-affiliated parties, with a 60-day temporary license – comments by 29 Oct 

September 30, 2025

This change aims to close loopholes where affiliates of listed entities could previously circumvent restrictions. The rule also introduces a Temporary General License (TGL) permitting certain transactions involving non-listed foreign affiliates of listed entities, with the TGL set to expire 60 days after the rule’s filing date. Comments on the rule are invited and must be submitted within 30 days from the filing date…

UK plans to roll out a mandatory digital ID scheme ‘Britcard’ by July 2029 for Right to Work checks and services, aiming to combat identity fraud with reduced data sharing and stronger security

September 29, 2025

The digital ID could enhance the verification process for company directors and persons with significant control, potentially reducing the risk of fraudulent activities. However, the centralization of personal data raises concerns about data breaches and misuse, which could impact the integrity of financial crime reporting systems. A public consultation will be launched later this year to gather input and refine the initiative. The government is currently…

UK Parliament warns that illegal meat imports threaten biosecurity and calls for stronger enforcement and coordination to address the issue

September 27, 2025

The UK Parliament’s Environment, Food and Rural Affairs Committee has released a report highlighting the escalating crisis of illegal meat imports into Great Britain, posing significant biosecurity risks. The report emphasizes the urgent need for enhanced enforcement, improved inter-agency coordination, and increased public awareness to combat this growing threat effectively.

NECC issues an Amber Alert to its partner institutions to raise awareness and share key trends relating to the increasing threat of digital wallet fraud

September 26, 2025

Digital wallet fraud is a rapidly growing financial crime where criminals add stolen bank card details to mobile wallet apps without the cardholder’s knowledge. Fraudsters are able to exploit the verification process linking a card to a digital wallet. Once the stolen card details are added, these wallets can be used to bypass standard banking fraud controls to enable fraudulent purchases and cash-outs…

HKMA alerts customers of The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and Bank of China to phishing scams and fake banking websites

September 26, 2025

These scams involve fake websites, phishing emails, and counterfeit internet banking login pages aimed at stealing customer information. The HKMA stressed that legitimate banks never send links via SMS or email for transactions, nor do they request sensitive information like login credentials or OTPs through these channels…

EC launches infringement proceedings against 11 Member States for failing to fully transpose the 6th AMLD, which mandates comprehensive access to BO information 

September 25, 2025

The Directive requires Member States to establish central registers of BO information and ensure that this information is accessible to competent authorities, obliged entities, and the general public. EC has sent letters of formal notice to these countries, urging them to notify EC of their national measures transposing the Directive. If the Member States do not respond satisfactorily within two months, the Commission may issue reasoned opinions…

Europol strikes a major blow to billion-euro wildlife crime networks by disrupting transnational glass eel trafficking through U.S. DNA evidence and coordinated raids in France

September 25, 2025

The operation involved close collaboration between Europol, national authorities, and international partners to gather intelligence and trace the illicit supply chains of glass eels. Authorities also seized evidence and assets linked to the trafficking networks, enhancing future enforcement and regulatory measures against wildlife crime…

Nine major European banks join forces to launch a euro-denominated stablecoin under MiCAR by 2026, enabling instant, low-cost cross-border payments and streamlined digital asset settlements

September 25, 2025

ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International have joined forces to launch a MiCAR-compliant euro-denominated stablecoin. This digital payment instrument, leveraging blockchain technology, aims to become a trusted European payment standard in the digital ecosystem.

FATF recognises Burkina Faso’s progress in upgrading Recommendation 8 (R.8), R.24, R.25, and R.32, raising most ratings to Compliant or Largely Compliant

September 25, 2025

The report recognises Burkina Faso’s progress in raising compliance with Recommendation 8 on non-profit organisations, Recommendations 24 and 25 on beneficial ownership, and Recommendation 32 on cash couriers, resulting in 10 Recommendations rated Compliant and 22 rated Largely Compliant. It also highlights that eight Recommendations remain Partially Compliant, meaning Burkina Faso will continue under enhanced follow-up to address these shortcomings.

FATF’s notes that Benin has made significant progress with respect AML/CFT in latest follow-up report – re-rating seven FATF Recommendations

September 25, 2025

The report notes that Benin has significantly improved its technical compliance by re-rating seven FATF Recommendations (including R.5, R.10, R.19, R.20, R.23, R.26, and R.32) upward. However, with remaining gaps—5 recommendations still Non-Compliant and 5 Partially Compliant—the country remains under enhanced follow-up scrutiny.

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