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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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FATF publishes report on the misuse of Citizenship and Residency by Investment (CBI) programmes

December 4, 2023

It highlights how CBI programmes can allow criminals more global mobility and help them hide behind shell companies in other jurisdictions. In addition, it highlights the vulnerabilities of these programmes, including the frequent use of intermediaries, involvement of multiple government agencies…

HMT issues money laundering notice on high-risk third countries

December 4, 2023

Details risks posed by jurisdictions with unsatisfactory money laundering and terrorist financing controls

City of London Police National Lead Force launches strategy for fraud, economic and cyber crime

December 1, 2023

The plan focuses on enhancing victim support through a new fraud and cyber reporting service, adopting proactive measures and intelligence-led investigations to target offenders, and strengthening national coordination to protect individuals and businesses from…

GABAC publishes Mutual Evaluation of the Central African Republic

November 30, 2023

The evaluation is based on information provided by the country, and information obtained by the evaluation team during the on-site visit to the country that took place from 29 August to 14 September 2022.

OFSI new general license allows humanitarian assistance in Gaza

November 30, 2023

The new general license allows “relevant persons” to perform “relevant activities” if such persons believe that the activities are necessary to provide humanitarian assistance and support basic human needs, and have no reason to suspect otherwise…

NCA issues advisory to retailers on counterfeit currency

November 29, 2023

Sets out actions that need to be taken when retailers are presented with suspected counterfeit currency.

HKMA takes disciplinary action against CA Indosuez (Switzerland) SA, HK Branch for contraventions of the AML and CTF ordinance

November 29, 2023

The control lapses identified in the investigation relate to CAHK’s failure to continuously monitor business relationships with some of its customers by conducting appropriate scrutiny of transactions carried out for them during the period between 11 February 2016 and 2 October 2016.

CFTAF re-rates Suriname on four Recommendations in latest follow-up report

November 29, 2023

Re-ratings cover PEPs, correspondent banking, tipping off and confidentiality, and CDD.

CFTAF re-rates Turks and Caicos Islands’ on two Recommendations in latest follow-up report

November 29, 2023

The islands are now rated largely compliant with Recommendation 13, covering correspondent banking, and compliant with Recommendation 28 on DNFBPs.

FinCEN issue alert on COVID-19 employee retention credit fraud

November 28, 2023

Provides an overview of typologies associated with ERC fraud and scams, highlights select red flags to assist financial institutions in identifying and reporting suspicious activity and reminds financial institutions of their reporting requirements under the Bank Secrecy Act (BSA).

Home Office adds new fact sheets on the Criminal Justice Bill 2023

November 28, 2023

The new fact sheets cover Proceeds of crime and Serious crime.

APGML publishes report on illicit finance generated from illegal fishing

November 28, 2023

The financial dimensions of illegal fishing pose a complex challenge for law enforcement due to lack of understanding of the transnational nature of this crime;
weak international coordination on illegal proceeds of illegal fishing; and the absence of parallel financial investigations.