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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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Australia commits over $5M to strengthen AUSTRAC-led Pacific partnerships, enhancing intelligence sharing and capabilities to disrupt cross-border criminal money flows

May 29, 2026

The funding will support Pacific financial intelligence units through the Pacific Financial Intelligence Community, including further development of Project Taipan, AUSTRAC’s financial intelligence system now implemented in 10 Pacific countries. AUSTRAC will also expand training, mentoring and practical detection capability for analysts and regulators, with a focus on illicit flows linked to drug trafficking, child sexual exploitation, environmental crime and other serious regional threats…

OECD report ‘Benefits of AI Openness’ examines how open AI systems, through shared models, datasets and collaboration, can drive innovation, improve transparency and support inclusive economic growth

May 29, 2026

The report assesses the potential benefits of AI openness, drawing on OECD analysis, the OECD.AI Policy Observatory and third-party research to consider how openness may affect economic outcomes, innovation dynamics and regional or national AI development. It introduces an AI stack framework to distinguish how openness operates across different layers of AI systems, helping policymakers identify where open approaches may support growth while still requiring appropriate governance..

AUSTRAC warns that charities and non-profits remain vulnerable to terrorism financing abuse and provides updated indicators to help detect suspicious cross-border donation flows

May 28, 2026

AUSTRAC’s updated risk guidance finds that money laundering and terrorism financing risk in Australia’s non-profit sector remains stable, with criminals continuing to exploit some charities and NPOs to move illicit funds domestically and overseas. It adds suspicious activity indicators to help regulated businesses identify possible NPO-related abuse and strengthen risk-based systems, controls and reporting…

GABAC’s 2nd Follow-up Report on Congo shows AML/CFT reforms advancing, but enforcement and asset recovery remain weak, alongside gaps in investigations and financial intelligence use

May 28, 2026

GABAC’s second enhanced follow-up report upgrades Recommendations 6 and 7 from non-compliant to partially compliant, Recommendations 10 and 12 from partially compliant to largely compliant, and Recommendations 16 and 20 from partially compliant to compliant, reflecting progress on sanctions, customer due diligence, politically exposed persons, wire transfers and suspicious transaction reporting. However, Congo remains in enhanced follow-up…

FATF’s 2nd Follow-up Compliance Report on Gabon report reveals AML/CFT progress, but ongoing weaknesses in investigations, prosecutions, intelligence use, and asset recovery

May 28, 2026

The second enhanced follow-up report assesses Gabon’s technical compliance progress and was adopted by GABAC in March 2026. It should be framed as a technical re-rating exercise rather than an effectiveness review, with the detailed ratings setting out where Gabon has addressed earlier deficiencies and where further AML/CFT strengthening remains necessary…

FATF marks further progress by the Democratic Republic of Congo, with fresh upgrades across terrorist financing, financial intelligence and preventive measures

May 28, 2026

The GABAC follow-up report upgrades Recommendations 6, 13, 14 and 29 to compliant, and Recommendations 5 and 10 to largely compliant, reflecting progress on terrorist financing offences, targeted financial sanctions, customer due diligence, correspondent banking, money or value transfer services and the financial intelligence unit. Recommendations 15, 22 and 34 remain partially compliant, with further work still needed on new technologies, DNFBP customer due diligence, and guidance and feedback to reporting entities.

Met Police guidance on ‘Information for Victims of Economic & Cyber Crime’ supports fraud victims in reporting quickly and accessing help, stressing early reporting for faster investigation and recovery

May 28, 2026

The guidance highlights that economic and cybercrime are high-volume, fast-evolving offences that require rapid reporting and coordinated response, and stresses that early reporting improves the chances of disruption, investigation, and potential asset recovery, while also encouraging victims to seek support services to mitigate financial and emotional harm…

AMLA concludes its public hearing on the draft business-wide risk assessment Guidelines, drawing 1,000+ stakeholders to advance a harmonised EU AML RBA – feedback due by 15 July 2026

May 28, 2026

The draft Guidelines set out minimum requirements for firms to identify, assess and manage risks arising from their business models, customers, products, services, delivery channels and geographic exposure, while emphasising proportionality and firms’ responsibility to tailor assessments to their specific risk profiles. AMLA confirmed that feedback from the hearing will help shape the final standards, with the consultation remaining open until 15 July 2026….

NCA and Irish authorities have dismantled a sophisticated cross-border money laundering network, leading to six arrests and the seizure of more than £800,000 in illicit cash

May 28, 2026

Authorities also seized approximately £176,000 during searches in Ireland. The arrests are linked to an ongoing investigation that previously led to the seizure of €450,000 and £258,000 in cash following arrests in Newry in November 2025. The NCA stated that organised crime groups operating across the island of Ireland rely on money laundering networks to recycle criminal proceeds and fund further criminal activity, and emphasised…

OECD Policy Paper on ‘Cybersecurity Regulations’ calls for greater global alignment of cybersecurity rules to reduce fragmentation, improve resilience and strengthen cross-border digital security

May 27, 2026

The policy paper examines the growing fragmentation of cybersecurity regulations across jurisdictions, including the drivers behind diverging rules and the consequences for governments and businesses, such as higher compliance costs and diversion of resources from core cybersecurity functions. It also maps domestic, regional and international initiatives to improve regulatory coherence, calling for stronger dialogue among policymakers, regulators and businesses and a better evidence base for future action…

FATF reports that Grenada has lifted several technical compliance ratings, bringing 31 of the 40 FATF Recommendations to compliant or largely compliant

May 27, 2026

The fourth enhanced follow-up report records upgrades for ten Recommendations, including terrorist financing, record-keeping, politically exposed persons, wire transfers, reliance on third parties, internal controls, higher-risk countries, DNFBP measures, supervisory powers and sanctions. Grenada remains in enhanced follow-up on the basis of its effectiveness ratings, with moderate shortcomings still affecting targeted financial sanctions for terrorism and terrorist financing and a final fourth-round follow-up report scheduled for the May 2027 CFATF Plenary.

FATF notes that Saint Vincent and the Grenadines has advanced its virtual asset controls, while Recommendation 15 remains only partially compliant

May 27, 2026

The follow-up review assesses the jurisdiction’s technical progress against Recommendation 15, noting amendments to the virtual asset framework, including revised registration obligations for VASPs and strengthened requirements around risk assessments, customer due diligence, record-keeping, suspicious transaction reporting and sanctions compliance. Saint Vincent and the Grenadines remains partially compliant with Recommendation 15 because residual gaps remain, including in relation to VASP registration coverage, targeted financial sanctions implementation, supervisory powers and the proportionality of available sanctions.

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