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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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UKFIU SARs reporter booklet highlights £190K fraud case, alongside case studies on shell companies, VAT fraud, illicit crypto transfers, ML through gambling, and misuse of public funds

March 18, 2025

A financial institution flagged a high-turnover business account with £10M in annual transactions, including a £50,000 fraud-linked transfer and crypto payments. A DAML SAR was submitted to exit the relationship, but the UKFIU refused and escalated it to law enforcement. Investigators uncovered a larger fraud network, enabling multi-agency intelligence sharing…

Europol launches EU Serious and Organised Crime Threat Assessment 2025, highlighting a fundamental shift in organised crime – evolving tactics, tools & structures

March 18, 2025

The report reveals key trends in organised crime, including the increasing use of digital platforms and technology for cybercrime and trafficking, and the rise of transnational networks exploiting EU borders for drug, weapon, and human trafficking. It also highlights growing threats linked to high-value goods, money laundering, and corruption in both established and emerging markets…

 

FCA declines Zeux Limited’s registration as a cryptoasset exchange provider, citing inadequate AML controls and ineffective risk management

March 17, 2025

The FCA found weaknesses in Zeux’s Business-Wide Risk Assessment, including inadequate customer risk analysis, failure to assess geographic risks, and missing controls for crypto transactions. Zeux’s incomplete risk framework raises concerns over its ability to detect illicit finance, posing a regulatory hurdle for its operations in the UK.

 

 

New Zealand’s FIU National Risk Assessment 2024 highlights current ML/TF risks, including major threats such as fraud, drug-related crime, and tax evasion, while also identifying vulnerable sectors

March 17, 2025

It highlights the vulnerability of sectors like financial institutions, real estate, and legal services to exploitation by criminals. The report also calls for enhanced vigilance and stronger compliance measures across these industries to effectively combat illicit activities and improve the country’s AML/CFT framework…

GIABA commends Sierra Leone for strengthening its AML/CFT laws, resulting in several re-ratings, but notes that gaps remain in addressing WMD financing

March 16, 2025

Sierra Leone’s new AML/CFT/PF Act 2024 addresses key deficiencies, improving compliance with FATF standards and earning re-ratings on multiple recommendations. However, progress on Recommendation 7 remains insufficient for an upgrade, signalling areas for further improvements…

GIABA notes Nigeria’s improved technical compliance with FATF Rec. 24, 25, 28, and 32 but urges stronger PEPs monitoring, and enhanced international enforcement cooperation

March 16, 2025

While improvements made by Nigeria have been recognised with respect to Recommendations 22 and 23, they remain insufficient for an upgrade. GIABA acknowledges these advancements, but further efforts are needed to fully align with FATF standards…

 

 

 

EU Tax Observatory study reveals that BO transparency is a key factor in reducing illicit offshore investment in UK real estate

March 14, 2025

The findings suggest that transparency measures have increased the cost of anonymous investments. However, the study also points to challenges in full implementation, as some investors continue to hide their ownership. The report underscores the need for stronger enforcement to ensure wider compliance and to amplify the impact of these reforms on global property markets…

RUSI hosts the Netherlands FIU Head in an STR podcast, discussing the country’s approach to illicit finance, evolving financial crime, and international collaboration

March 14, 2025

The podcast discusses how these illicit activities fund criminal organizations, destabilize governments and enable terrorism making them significant threats to national and international stability. The podcast also highlights the urgent need for robust policy responses, emphasizing the role of democracies and international institutions in strengthening financial regulations, improving enforcement mechanisms, and fostering cross-border…

 

Europol and Latin American authorities bust major cocaine trafficking network in Ecuador, exposing front companies and illicit money flows – 36 arrested, 73 tonnes seized

March 14, 2025

The network employed a sophisticated method to launder drug proceeds, using front companies that acted as legitimate businesses to disguise illicit financial activities. These companies were often set up to create the illusion of lawful operations while facilitating the flow of illicit money. Additionally, transport firms were enlisted to handle the logistical aspect of moving the cocaine, using their legitimate operations to cover up the trafficking…

 

 

RUSI releases policy discussion paper on private sector collaboration to detect economic crime with global legislative changes, new P2P information-sharing frameworks and cross-border risk collaboration

March 14, 2025

This paper explores recent legislative changes in the UK, EU, Singapore, Canada, and Australia that enhance private sector collaboration in detecting economic crime. It highlights new frameworks for private-to-private information sharing, focusing on data-driven risk assessments, joint investigations, and cross-border intelligence sharing, while emphasizing the need for public sector support to maximize impact…

FATF’s Detecting, Disrupting, and Investigating Online Child Sexual Exploitation report aims to deepen understanding of the financial flows behind these crimes, outlining key actions for authorities and FIs

March 13, 2025

The report highlights how cryptocurrency, prepaid cards, anonymous payment processors, and underground banking networks are exploited to move illicit funds across borders. Dark web markets, peer-to-peer transactions, and unregulated digital payment platforms further obscure the financial trails, making detection and disruption more challenging…

 

HM Treasury publishes 2023-24 AML/CTF supervision report emphasising stricter oversight for high-risk sectors, gaps in supervision and BO transparency, and a risk-based enforcement stra

March 13, 2025

The report outlines the activities of AML/CFT supervisors, covering data on supervisory and enforcement actions from both Public Sector and Professional Body Supervisors, highlighting key changes and fines issued. It introduces new metrics, detailing the training and guidance provided to firms, as well as trends in enforcement actions, including increased fines and regulatory interventions…