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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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UK Gambling Commission urges operators to submit quarterly regulatory returns promptly via its e-portal, warning that delays could trigger tougher enforcement action

April 17, 2025

The Commission emphasizes that operators must adhere to their reporting obligations, ensuring that returns are submitted on time via the designated online portal. The warning comes after a significant update to the Licence Condition 15.3.1 in July 2024, which now mandates that all licensees submit regulatory returns on a quarterly basis instead of the previous annual schedule. The next set of quarterly returns is due by April 28, 2025…

UK SFO charges United Insurance Brokers for failing to prevent and detect a $3.2m bribe to Ecuadorian officials, setting precedent for landmark ‘Failure to Prevent’ bribery trial

April 17, 2025

The case involves UIBL’s role in facilitating bribes paid to Ecuadorian state officials between October 2013 and March 2016. The bribes were allegedly paid by UIBL’s US-based intermediaries in exchange for securing re-insurance contracts worth approximately US $38 million for Ecuadorian state-owned enterprises, including water and electricity companies…

 

FCA unveils a bold strategy to combat financial crime, targeting dirty money, fraud, market abuse, and crypto risks with tougher enforcement, strong US partnerships, and a focus on accountability

April 16, 2025

Its new 5-year strategy aims to tackle financial crime with speed and transparency, cutting investigation times from 42 to 16 months. Key focus areas include enhancing anti-money laundering systems, addressing fraud, and maintaining market integrity, particularly in combating insider trading and organized crime…

US Treasury intensifies sanctions on Chinese firms and shadow fleet vessels tied to Iranian oil trade, aiming to disrupt financial support for Iran’s military and terrorist proxies

April 16, 2025

These vessels are involved in transporting Iranian crude oil through ship-to-ship transfers, ultimately providing financial support to Iran’s military including the Islamic Revolutionary Guard Corps (IRGC), and fueling the regime’s proxy operations across the Middle East. The tightening of sanctions aims to disrupt the network sustaining Iran’s petroleum industry, which is a vital source of revenue for its destabilizing activities…

Europol disrupts major drug networks across Europe and Turkey, seizing over €300m in assets, using app intelligence from encrypted platforms like Sky ECC and ANOM

April 15, 2025

This operation, supported by intelligence from encrypted communication platforms like SkyECC and ANOM, led to the arrest of 232 individuals including high-ranking figures involved in drug trafficking and money laundering activities. The investigation spanned multiple countries, including Belgium, France, Germany, the Netherlands, and Spain, and resulted in the seizure of over €300 million worth of assets, including properties and vehicles…

Central Bank of Kuwait launches ‘Fraud Shield Initiative Accelerator Program’ to tackle the rise of e-financial fraud by enhancing detection, prevention, and fostering cutting-edge anti-fraud solutions

April 15, 2025

This program brings together a diverse group of stakeholders, including banks, payment service providers (PSPs), fintech innovators, and regulatory bodies, to develop advanced solutions aimed at enhancing fraud detection and prevention across the financial sector. As electronic financial fraud schemes become increasingly sophisticated, the initiative seeks to strengthen consumer protection, ensure regulatory compliance…

FinCEN extends real estate GTOs, mandating title insurers to disclose the true buyers behind shell companies in all-cash home purchases to combat ML, with the orders effective until Oct 2025

April 14, 2025

The GTOs apply to select counties in 15 states and D.C., with no changes to jurisdictional coverage or purchase price thresholds ($300,000, or $50,000 in Baltimore). The renewal supports efforts to track illicit funds and criminal activity in the real estate market…

 

UK Gambling Commission charges 15 individuals with offences, following an investigation into alleged cheating linked to bets on the timing of the 2024 General Election

April 14, 2025

The investigation which began in June 2024, uncovered that several individuals allegedly had access to confidential information about the election date ahead of its public announcement. These individuals are accused of using this advance knowledge to place unfair bets, thus breaching Section 42 of the Gambling Act, which makes such actions a criminal offence…

UK Govt pledges £121m to boost quantum technology, reinforcing its research leadership while addressing key issues like crime, fraud, and ML, to drive economic growth

April 14, 2025

This initiative is also a part of the UK’s broader strategy to stimulate economic growth through technological innovation. By investing in quantum research and supporting its practical applications in sectors like finance, healthcare, and cybersecurity, the government hopes to not only strengthen its AML frameworks but also foster job creation, boost competitiveness, and secure the UK’s position as a global leader in advanced technology…

Swiss Fedpol’s 2024 report indicates a surge in ML, paedophile crimes, and threats against law enforcement officers, underlining the growing complexity of digital and financial crime challenges

April 11, 2025

The report underscores how criminal networks are increasingly exploiting emerging technologies to conceal transactions, launder money, and disseminate illegal content. As digital crime networks become more sophisticated, the urgency for cross-border collaboration, advanced analytics, and stronger crypto compliance frame…

NCA issues its first INTERPOL Silver Notice to track and seize assets from Anopkumar Maudhoo, the orchestrator of an £8.5m property fraud scheme involving ML and fake identities

April 11, 2025

This landmark use of a Silver Notice signals a growing global push to choke off illicit financial flows, and financial crime units should prepare for expanded use of asset tracing tools beyond traditional red notices…

Eurojust assists in takedown of large-scale money mule network linked to sophisticated online fraud, laundering over €3m in illicit profits

April 10, 2025

The criminal group orchestrated a sophisticated fraud scheme primarily using Business Email Compromise (BEC) scams in which they impersonated legitimate companies to deceive victims into transferring funds into accounts under their control. Over 113 victims have been identified across Europe, with a significant number located in the United Kingdom. To launder the stolen funds, the group recruited hundreds of money mules…

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