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

Topics

Industry

Organisation

Jurisdiction

Region

BBC: Ireland has signed extradition treaties with the UAE

October 21, 2024

The Republic of Ireland and the United Arab Emirates (UAE) have signed two bilateral treaties focused on extradition and mutual legal assistance. Irish Justice Minister finalized the agreements in Abu Dhabi with UAE counterpart after negotiations initiated last year to address organized crime and drug trafficking. These treaties are anticipated to enable the extradition of a prominent member of the organized crime gang back to Ireland…

Association of Accounting Technicians (AAT) publishes AML Annual Report for 2022/23

October 20, 2024

The report aims to provide transparency over AAT’s work as a supervisory authority in this period, including an overview of all AML monitoring activities and providing insight into member compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended, updated or re-enacted from time to time) known as the ‘Money Laundering Regulations’ in this report.

FATF issues call to action with respect to the high-risk jurisdictions of Iran and DPRK

October 20, 2024

FATF urges all jurisdictions to apply effective countermeasures against Iran, in line with Recommendation 19, noting the country’s failure to enact the Palermo and Terrorist Financing Conventions. Countries are also advised to properly assess and account for increased proliferation financing risk with respect to DPRK.

FinCEN hosts Regional Training Event in Botswana to combat money laundering

October 20, 2024

The training event brought together delegations from Angola, Botswana, Comoros, Eswatini, Lesotho, Madagascar, Namibia, and South Africa, along with facilitators and trainers from the United States and from Canada’s Financial Transactions and Reports Analysis Centre, to improve the capabilities of government agencies to investigate and address priority illicit finance threats, including those related to the illegal wildlife trade (IWT). CIFT training is designed to provide capacity-building, case studies, and targeted training to personnel from participating governments’ financial intelligence units, law enforcement agencies, regulatory bodies, and prosecutors.

Eurojust dimantles a criminal network that produced narco-boats for drug smuggling

October 20, 2024

The criminal organization established multiple warehouses in Spain and Portugal where they manufactured illegal boats in Portugal to sell to other criminal groups for drug trafficking, including heroin and marijuana, into Spain. Authorities began investigating the group in late 2022 upon discovering their production and sale of narco-boats, necessitating an international operation to apprehend them…

A UNODC survey reveals that Colombia’s potential cocaine production increased by 53% in 2023

October 18, 2024

Although no new hotspots of coca cultivation were recorded as of December 2023, coca enclaves remain a major challenge: 39 per cent of the potential coca leaf production comes from productive enclaves that occupy only 14 per cent of the territory where coca is planted. (Link to executive summary in Spanish)

Dun & Bradstreet launches podcast on ‘Exploring the intersection of Technology and Organised Crime’, featuring insightful discussion with renowned investigative journalist Geoff White

October 18, 2024

Geoff, known for his extensive work on the Snowden leaks and his recent book “Rinsed,” shares his expertise on how technology is both a tool and a target for financial criminals. From the challenges of money laundering in the digital age to the role of cryptocurrency and AI in combating financial crime, this episode offers a comprehensive look at the evolving landscape of financial crime and the innovative solutions being developed to tackle it.

US DoJ sentences man to 7 years in Federal Prison for orchestrating a fraudulent investment scheme that defrauded investors of $23m

October 18, 2024

SEAN GRUSD formed three funds that he claimed would invest in private financial technology companies.  Beginning in 2021, Grusd provided potential investors with marketing materials containing numerous falsehoods about the funds’ purported investment history and successes.  Among other things, the promotional materials falsely claimed that one of Grusd’s funds had been an early investor in successful startup companies, such as Instacart, Coinbase, and Shippo.  Grusd also falsely claimed that he had graduated from a prestigious law school …

AML Intelligence: Banks urge social media platforms to intensify efforts against fraud

October 18, 2024

UK Finance revealed £571 million was stolen in card payment fraud during the first half of 2024 with 72% of APP scams originating on social media. Despite a slight decrease in fraud from 2023, social media and telecom platforms are still key enablers. UK Finance and the UK Payment Systems Regulator are pressing these sectors to intensify their anti-fraud measures, as existing efforts are insufficient against advanced scams…

ICIJ exposes link between Brazil’s largest criminal organisation and Panama Papers in police investigation

October 18, 2024

A police report obtained by ICIJ partner Agência Pública claims an offshore company created by Mossack Fonseca in 2012 is part of a cluster of firms that allegedly laundered money from drug trafficking…

 

 

Moody’s publishes blog on ‘Searching for Answers: What Is Business Entity Verification?’

October 17, 2024

Conducting business entity verification is crucial to mitigate risks related to sanctions, fraud, money laundering, and other financial crimes. By ensuring the accuracy and authenticity of business entities, organizations can establish trust, maintain regulatory compliance, and safeguard their operations from potential risks.

Dow Jones and Fintrail’s insights on ‘Best Practices in Name Screening’ and regulatory compliance

October 17, 2024

Name screening is a critical tool for complying with regulatory requirements – from freezing the assets of sanctioned parties, to identifying and managing Politically Exposed Persons (PEPs) and high-risk customers. Though generally not a direct requirement, in practice most regulators expect name screening as part of a robust anti-financial crime program.