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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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HKMA publishes a Thematic Review of Sanctions Screening Systems, highlighting banks’ strengths, best practices, exposing gaps, and setting standards to boost anti-fraud, AML, & FC defences

March 16, 2026

It highlights areas where systems are performing well, identifies common deficiencies, and shares good practices for strengthening controls. The guidance sets clear regulatory expectations for maintaining, monitoring, and enhancing sanctions screening processes, while also signaling follow-up supervisory actions where improvements are needed. This review forms part of the HKMA’s broader efforts to reinforce anti-fraud, anti-money laundering, and financial crime controls in collaboration with banks and law enforcement…

Cayman Islands confirms its beneficial ownership register will remain accessible only to those with a legitimate interest, rejecting calls for full public access

March 13, 2026

The register is a key tool for combating money laundering, tax evasion, and financial crime, and access is limited to authorities, regulators, and financial institutions performing due diligence. Parliament also updated fees for accessing the register, including annual and single-search charges, while the Premier emphasized that this approach keeps Cayman ahead of international standards, balancing transparency with privacy and protecting the jurisdiction’s credibility in the global financial system…

UN Commission on Narcotic Drugs establishes a 19-member Expert Panel to offer clear actionable recommendations for strengthening global drug control and supporting the 2029 policy review

March 12, 2026

The panel will analyse progress since the 2019 Ministerial Declaration on global drug control commitments and provide evidence-based recommendations to guide future international drug policy discussions. Its work will draw on expertise across health, justice and development fields to assess the evolving world drug problem and inform UN member states ahead of the 2029 high-level policy review…

U.S. Treasury publishes 2026 National ML Risk Assessment, warning criminals are exploiting fraud, drug trafficking, cybercrime, and digital assets to launder money, urging stronger public-private action

March 12, 2026

The report assesses vulnerabilities across sectors—including banks, money services businesses, casinos, cash-intensive industries, and legal entities—and underscores the urgent need for both public and private sectors to strengthen risk‑mitigation measures, enhance monitoring and reporting, and adopt innovative strategies to detect, deter, and disrupt money laundering, terrorist financing, and proliferation financing, reinforcing the U.S. commitment…

AUSTRAC CEO warns the gambling sector remains highly vulnerable to sophisticated ML, urging firms to move beyond box-ticking compliance, fix systemic control failures, and brace for tougher, risk-based enforcement 

March 12, 2026

AUSTRAC warns in its “Regulating the Game” speech that the gambling sector remains highly exposed to money laundering risks and must move beyond box-ticking compliance, as CEO Brendan Thomas calls for stronger leadership, robust risk assessments, and effective AML/CTF controls, stressing that firms must take genuine responsibility for preventing criminal exploitation while preparing for stricter enforcement and a more proactive, risk-based regulatory approach under upcoming reforms…

FSB launches a new implementation phase to make cross‑border payments faster, cheaper, and more transparent by 2027 through upgraded systems, real-time processing, and public-private collaboration

March 12, 2026

This phase brings together public authorities and private sector stakeholders—including banks, fintechs, and payment system operators—to develop detailed jurisdictional and regional action plans, identify bottlenecks, and implement practical measures that improve the efficiency and resilience of cross-border payment systems. Key objectives include enhancing payment infrastructure, enabling real-time processing, reducing costs, improving transparency of fees and timelines, and strengthening regulatory coordination across borders…

MONEYVAL publishes Typologies report on ML, TF, and PF linked to conflict proceeds, showing how illicit funds are laundered to finance violence through complex schemes exploiting weak states

March 12, 2026

The report identifies how armed conflict creates opportunities for criminal and terrorist actors to generate illicit funds through activities such as trafficking, extortion and sanctions evasion, which are then laundered via formal financial systems, cash movements and trade-based schemes. It highlights that weak governance, corruption and disrupted regulatory oversight in conflict-affected regions enable these flows, calling for stronger international cooperation, financial intelligence and targeted risk assessments to detect and disrupt conflict-related illicit finance…

FATF’s report on ‘Understanding and Mitigating the Risks of Offshore VASPs’ warns that offshore crypto providers create AML/CFT blind spots, enabling fraud, ML, and TF through weak oversight

March 11, 2026

The report explains that offshore VASPs often operate from one jurisdiction while serving customers in others, exploiting inconsistent licensing, supervision and enforcement rules to evade anti-money-laundering controls and obscure the movement of illicit proceeds across blockchains. FATF highlights typologies including layered wallet transfers, cross-chain transactions and “nested” relationships where unlicensed offshore providers access services through regulated exchanges, and urges countries to adopt activity-based supervision, strengthen international cooperation and sanction non-compliant…

Nasdaq Verafin’s 2026 Global Financial Crime Report reveals a sharp surge in illicit activity, with $4.4 trillion lost in 2025 up $1.3 trillion since 2023, driven by fraud, drug and trafficking, and AI‑enabled criminal schemes

March 11, 2026

The report highlights that 90% of financial crime professionals have observed more AI-driven attacks, while 75% of institutions plan to deploy AI for detection, underscoring both the growing threat and the role of technology in fighting it. It calls for enhanced collaboration, intelligence sharing, and next-generation tools to disrupt sophisticated criminal networks and safeguard individuals and communities worldwide…

NCA’s UKFIU SARs in Action (Mar 26) warns UK victims are losing millions to scams, with 143 payment diversion fraud cases averaging £82,000 per victim and crypto fraud reaching 12.6M online impressions

March 11, 2026

The issue also features the Crypto Dream Scam Nightmare campaign warning of crypto investment fraud, reaching millions through social media and advising victims to verify platforms via the FCA Firm Checker and report to Report Fraud. Money laundering in social housing is addressed, emphasizing the need for robust AML compliance and vigilance by housing associations and professional enablers. Updates on international cooperation through CARIN showcase asset recovery collaboration across 60+ jurisdictions. Practical guidance is provided on updating SAR Portal contacts…

Home Office launches a refreshed Fraud Strategy for 2026–2029 aimed at disrupting fraud networks, strengthening law-enforcement capabilities and improving protection for victims

March 10, 2026

In a launch speech, Home Office minister Lord Hanson highlights the need for stronger collaboration between government, law enforcement, financial institutions and technology companies to tackle fraud, which represents a major share of crime affecting individuals and businesses in the UK. The strategy focuses on disrupting fraud before it reaches victims, including new capabilities such as an Online Crime Centre to coordinate intelligence and operational action against organised fraud networks.

FinCEN expands its Geographic Targeting Order along the U.S. southwest border, requiring MSBs to report and verify $1,000–$10,000 cash transactions to disrupt Mexico-based cartels

March 10, 2026

The order mandates that money services businesses in specified counties along the U.S.–Mexico border report cash transactions above a lowered threshold of $200, aiming to detect and disrupt illicit financial flows associated with drug cartels and transnational criminal organisations. FinCEN states that the enhanced reporting will strengthen law-enforcement visibility into cross-border financial activity and support efforts to combat money laundering, narcotics trafficking and related criminal networks operating in the region…

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