Log in/out

Our extensive knowledge at your fingertips

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.

Browse the resource database or make a sub-selection:

Menu

Latest editions

Search

U

US DEA releases 2024 National Drug Threat Assessment, evaluating illicit drug threats and trafficking trends that pose a danger to the US

May 24, 2024

The shift from plant-based drugs, like heroin and cocaine, to synthetic, chemical-based drugs, like fentanyl and methamphetamine, has resulted in the most dangerous and deadly drug crisis the United States has ever faced,” said DEA Administrator…

OFSI issues updated Industry Guidance on UK Maritime services ban and oil price cap

May 24, 2024

Russia’s invasion of Ukraine, the UK and its allies have imposed some most severe sanctions against Russia. This targets Russia’s most profitable revenue stream – the sale of oil products – while also ensuring that these products continue to be exported to non-EU countries. The measures are intended to reduce Russia’s revenues from its oil exports by targeting the maritime transport of goods of Russian origin…

GIABA publishes second enhanced follow-up Technical Compliance report on the Gambia

May 23, 2024

The Gambia is re-rated on Recommendations 1, 13 and 16; covering a risk-based approach, cross-border correspondent banking relationships and the exchange of virtual currencies.

NCA has secured the first Unexplained Wealth Order in Northern Ireland against a man suspected of involvement in serious organised crime

May 23, 2024

The Order compels the man and his wife to explain the source of funds used to construct a property in County Armagh worth approximately £275,000. NCA investigators believe that the man, who is now resident in the Republic of Ireland, has connections to paramilitary activity, cigarette smuggling and money laundering…

EU and UNODC enhance cooperation to address increasing organised crime and violence within and beyond the EU

May 23, 2024

The key areas addressed were migrant smuggling, trafficking in human beings, illicit financial flows, critical infrastructure protection and illegalities associated with critical raw materials’ supply chains.

RUSI releases commentary on the UK Govt’s launch of its first strategy to tackle the silent threat of fraud to national security

May 23, 2024

The covid pandemic was a  contributing factor to the issue, crime had skyrocketed to the point where the UK economy was estimated to be losing £190billion because of its enormous scope and connections to both organized crime and terrorism, fraud has come to be perceived by many as a “silent threat” to national security. The legislative framework for tackling fraud formulating by scheduling new draft to banning possession of SIM Farms…

EBA issues a report on ‘virtual IBANs’ (vIBANs), following a comprehensive fact-finding exercise on the issuance and use by payment service providers (PSPs) of (vIBANs)

May 22, 2024

The key AML/CTF concerns identified include: 1) Insufficient visibility for national competent authorities (NCAs) regarding the extent of vIBAN offerings within their jurisdictions. 2) Differing interpretations of the applicable AML/CFT regulatory framework for cross-border vIBAN services. 3) Limited visibility for counterpart PSPs involved in fund transfers regarding the identity of the end users of vIBANs…

 

Swiss Federal Council adopts dispatch on strengthening anti-money laundering framework

May 22, 2024

The aim is to reinforce the integrity and competitiveness of Switzerland as a financial and business location by means of a federal register of beneficial owners and due diligence for particularly risky activities in legal professions, as well as other provisions.

BBC: Fake Olympics and Taylor Swift tickets are the two biggest online scams that are fuelling fraud

May 22, 2024

The abuse of online platforms continued to leave people vulnerable as the criminals stole £1.17bn in 2023, down 4% from 2022. It called on tech companies to do more to help stop the scams. Consumers lost £86m last year to purchase scams, in which they agreed to pay for something that never materialised, The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year…

ESAAMLG publishes second enhanced follow-up report and technical compliance re-rating on Tanzania

May 21, 2024

Finds that Tanzania has addressed the deficiencies in respect of the following Recommendations which have been re-rated as follows: Recommendation 6 (initially rated NC) is re-rated to Partially Compliant; Recommendation 10 (initially rated PC) is re-rated to Largely Compliant; Recommendation 12 (initially rated NC) is re-rated to Partially Compliant; Recommendation 13 (initially rated PC) is re-rated to Compliant; Recommendation 17 (initially rated NC) is re-rated to Partially Compliant; Recommendation 18 (initially rated NC) is re-rated to Compliant; Recommendation 19 (initially rated NC) is re-rated to Compliant.

Europol assisted the Spanish National Police in dismantling two criminal groups involved in smuggling hundreds of Chinese nationals through various fraudulent means

May 21, 2024

Two stages were required for such a complicated investigation: 35 suspects were detained by Spanish law enforcement for allegedly aiding illegal immigration, forging documents, and being members of criminal organizations. Europol offered operational analysis support and on the day of the action, an analyst was sent to Toledo to offer forensic expertise and on-the-spot assistance….

FATF releases procedures for AML/CFT/CPF Mutual Evaluations, Follow-Up and International Co-operation Review Group (ICRG)

May 20, 2024

Mutual evaluations based on the 2023 Methodology will be a six-year cycle. The shorter cycle, greater scrutiny and strong follow-up mechanisms will ensure that governments stay focused on taking effective action to detect, prevent and punish money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

No results found.