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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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FinCEN advisory on kleptocracy & foreign public corruption

April 14, 2022

FinCEN urges financial institutions to focus efforts on detecting the proceeds of foreign public corruption, a priority for the U.S. Govt. Kleptocratic regimes and corrupt public officials may engage in bribery, embezzlement, extortion, or the misappropriation of public assets…

Home Office on Joint Fraud Taskforce meetings

April 11, 2022

The Home Office presented an overview of the draft Plan. It has identified key pillars to strengthen leadership and cooperation across the public and private sectors. The UK Intelligence Community are also doing work to prevent frauds from reaching…

ESAs issues first joint risk assessment report for 2022

April 11, 2022

ESAs issues their first joint risk assessment report for 2022. The report highlights the increasing vulnerabilities across the financial sector as well as the rise of environmental and cyber risks…

ICIJ reveals more than 800 Russians behind secret companies

April 11, 2022

ICIJ reveals more than 800 Russians behind secret companies in landmark expansion of public offshore database. The Offshore Leaks Database spotlights vital new information on the covert financial activities of oligarchs, bankers and politicians as waves of Western…

EBA letter on AML/CFT legislative package

April 5, 2022

EBA issues letter on AML/CFT legislative package – related to supervisory cooperation and selection criteria for direct supervision. The EBA works closely with 57 AML/CFT supervisors from all Member States that are members…

UNODC on Ukraine’s conflict on drug demand & supply

April 5, 2022

Seizure data suggest that heroin trafficking through Ukraine has been slowly increasing since the turn of the century, with some larger
quantities seized after 2015. Heroin transiting Ukraine is often smuggled from Afghanistan…

Malta FIAU issues Guidance Note on MLRO

April 5, 2022

The FIAU trusts that this Guide will enhance subject persons’ understanding of the importance of this role and ensure that anyone appointed as MLRO or holding the said position is able to exercise the associated functions in an effective manner…

EBA revised guidelines on risk-based supervision

April 5, 2022

The revised Guidelines on risk-based supervision set out the steps supervisors should take to ensure adequate AML/CFT oversight of their sector and support the adoption, by credit and financial institutions, of effective ML/TF risk management policies and procedures…

EC removes the Bahamas from AML blacklist

April 5, 2022

The Bahamas was removed from the European Commission’s List of Third-country Jurisdictions which have strategic deficiencies in their AML/CFT Regimes (AML Blacklist). This decision was finalized after The Bahamas was assessed under…

European Commission consults on the digital Euro

April 5, 2022

For a digital euro to be used as the single currency, concurrently with euro banknotes and coins, it would require a Regulation of the co-legislator, upon a proposal by the Commission, on the basis of Article 133 TFUE…

Crypto assets: new rules to stop illicit flows in the EU

April 4, 2022

Crypto-assets’ transfers would need to be traced and identified to prevent their use in money laundering, terrorist financing, and other crimes. All transfers of crypto-assets will have to include information on the source of the asset and its beneficiary…

US DoJ convicts banker for FCPA violations & ML

April 4, 2022

US DoJ convicts former Goldman Sachs investment banker for FCPA violations and money laundering in connections with 1MDB.  He participated in a massive bribery and ML scheme involving the corruption…

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