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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 leads a global crackdown seizing nearly €66M in counterfeit currency across 18 countries, uncovering 1M fake notes and triggering 102 new investigations into fraud networks

August 20, 2025

The investigation, conducted from October 2024 to March 2025 across 18 countries, led to the seizure of more than 990,000 counterfeit items, including “movie money” notes, and triggered 102 new investigations into criminal networks, with a particularly notable seizure of USD 600,000 in fake banknotes in Romania…

Companies House confirms mandatory ID verification for company directors and PSCs from 18 Nov 2025 – aiming to tighten corporate transparency and crack down on fraud

August 18, 2025

The rollout, phased over 12 months, will affect an estimated 6–7 million individuals, with new directors required to verify their identity upon appointment and existing directors and PSCs completing verification in line with their next confirmation statement or appointed-day requirements. Verification can be completed quickly online via GOV.UK One Login or through…

U.S Treasury requests for comments on using AI, APIs, blockchain, and digital identity tools to help FIs detect illicit activity in stablecoins and digital assets under the GENIUS Act – by 17 Oct 2025

August 18, 2025

Treasury asks commenters about application program interfaces, artificial intelligence, digital identity verification, and use of blockchain technology and monitoring. Innovative tools are critical to advancing efforts to address illicit finance risks but can also present new resource burdens for financial institutions.  As required by the GENIUS Act, Treasury will use public comments to inform research on the effectiveness, costs, privacy and cybersecurity risks, and other considerations related to these tools…

EBA’s report on AML/CFT SupTech identifies these tools as key drivers for advancing supervision, enhancing efficiency and data analysis while emphasising robust governance

August 18, 2025

The report stresses the need for a digital-first culture, robust change management, interoperability, and privacy safeguards, along with continuous evaluation of performance. Cross-border and domestic collaboration is crucial to ensure SupTech tools are effective, secure, and compliant, helping regulators tackle financial crime more efficiently…

FCA’s Cyber Coordination Group publishes insights highlighting how legacy systems, third-party dependencies, and emerging AI vulnerabilities continue to pose significant cyber risks to firms

August 15, 2025

The report, drawing on insights from 139 participating firms, highlights systemic challenges in reconnection protocols and third-party incident management, underscores the value of threat-led penetration testing and coordinated responses, and flags emergent exposures tied to AI and quantum technologies FCA. These findings signal how such weaknesses—especially in digital infrastructure and supplier ecosystems…

HKMA warns of a fraudulent app posing as Bank of Singapore, using phishing and fake logins to steal data and enable unauthorized transactions

August 14, 2025

The alert underscores the increasing sophistication of cybercriminals who are deploying fake apps and phishing attempts to capture sensitive customer information, including login credentials and one-time passwords. HKMA reminded the public that legitimate banks will never request such information via SMS, email, or embedded links, and emphasized adherence to established security protocols to mitigate risk…

Europol’s ‘From Instigator to Perpetrator’ report exposes how “violence‑as‑a‑service” uses digital platforms to outsource attacks, exploiting minors while protecting masterminds

August 14, 2025

Europol’s investigative analysis, supported by its Operational Taskforce OTF GRIMM, reveals a four-stage violent chain—instigator, recruiter, enabler, and perpetrator—often involving minors recruited through encrypted social media platforms, gamified tasks, and coded messaging to execute assaults, extortion, or murders at a distance from criminal masterminds…

 

RUSI warns UK money mule activity threatens national security, with a 23% rise in 2024, 227K accounts closed by the FCA, and fraud via social media now driving 45% of all crime

August 14, 2025

Fintechs and Banking-as-a-Service platforms were identified as especially vulnerable, with BaaS providers accounting for 10% of tracked transfers. Despite these risks, fraud database filings fell 17%, reflecting reporting changes, even as regulators and banks intensify collaboration with tech firms and law enforcement to disrupt this fast-moving threat…

CommBank and OpenAI embark on Australia-first strategic partnership to explore advanced generative AI solutions for stronger scam and fraud detection and enhanced personalised customer services

August 13, 2025

Under this agreement, CommBank engineers and OpenAI specialists will work together to integrate AI-driven solutions that enhance scam detection, monitor suspicious transactions, and deliver more personalized, secure services to customers. Employees will progressively gain access to enterprise-grade AI tools, including ChatGPT Enterprise, alongside comprehensive upskilling programs to ensure responsible and effective AI usage…

US DoJ targets 4 individuals and 13 Mexican companies linked to CJNG, a U.S.-designated Foreign Terrorist Organization, for scamming U.S. seniors through fraudulent timeshares

August 13, 2025

Through a series of new sanctions, the Treasury has revealed the methods the cartel uses to exploit U.S. victims, including older Americans, by employing call centers, fake brokers, and advance-fee schemes. The action designates four individuals and 13 companies connected to the network, effectively blocking their assets in the United States and prohibiting U.S. persons from engaging in transactions with them…

GI-TOC highlights that organised crime in South Caucasus is going transnational, exploiting trade routes, political tolerance, and digital tools to fuel sanctions evasion and global illicit networks

August 13, 2025

While Azerbaijan has largely absorbed criminal networks into the state apparatus, Georgia and Armenia see groups operating with tacit political tolerance. Thieves-in-law remain influential, maintaining international operations in extortion, illicit trade, and money laundering. Armenia and Georgia have emerged as hubs for Russian goods and sanctions evasion, while Azerbaijan facilitates Russo-Iranian commerce…

BIS Bulletin Aug 25 proposes a new AML model for cryptoassets, including stablecoins, by assigning each unit a compliance score based on its transaction history to track illicit activity

August 13, 2025

Recognizing the limitations of traditional AML methods in permissionless, decentralized networks, the BIS suggests leveraging blockchain transparency to gauge the risk each asset poses. These risk scores—ranging from “clean” to “tainted”—would be used at crypto-to-fiat conversion points (“off-ramps”) to block suspicious funds, thus fostering a duty-of-care culture among exchanges and issuers…

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