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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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FINTRAC announces C$25M increase in supervisory funding to strengthen oversight of financial institutions, virtual currencies, online gaming and newly regulated sectors

October 9, 2026

Speaking at the ACAMS Assembly Canada conference, Deputy Director Tina Matos said the agency’s supervisory funding envelope would rise from approximately C$60 million to C$85 million. The additional resources will support expanded examinations, implementation of a revised administrative penalties framework and a universal enrolment programme, following Canada’s recent FATF evaluation…

EU FRA new report highlights data protection gaps in EU law enforcement, including challenges in cross-border intelligence sharing and personal data transfers

October 9, 2026

The report identifies gaps in authorities’ understanding of key principles, particularly data minimisation and purpose limitation, alongside inconsistent practices for ensuring data accuracy and security. It highlights the need to strengthen the role, expertise and resources of data protection officers, while national data protection authorities face resource constraints that limit effective supervision and enforcement. FRA calls for clearer guidance, improved training and stronger oversight to ensure criminal investigations use personal data lawfully while safeguarding fundamental rights…

US DoJ secures a guilty plea from the operator of an international money laundering network that recruited more than 15,000 US money mules to process stolen funds

October 8, 2026

The Your Mule Cashout network facilitated the laundering of proceeds stolen from more than 750 US bank accounts, with at least $10 million routed through intermediaries to overseas recipients. Its operators recruited individuals through fraudulent employment opportunities, disguising criminal transfers as legitimate business payments.

US DoJ issued Directive 26-13, directing prosecutors to coordinate tax, securities, consumer fraud and cybercrime powers to investigate and dismantle complex fraud networks

October 8, 2026

The directive builds on the National Fraud Enforcement Division’s earlier priorities and corporate enforcement policy, establishing a more integrated approach to investigating and prosecuting financial crime. It signals a shift towards targeting interconnected schemes through multiple legal authorities rather than treating individual fraud offences in isolation…

MENAFATF highlights financial fraud, asset recovery and technology-enabled terrorist financing as key regional priorities at its Oct 2026 workshop in Kuwait

October 7, 2026

The discussions examined early fraud detection, parallel financial investigations and more effective tracing and management of confiscated criminal assets. Participants also addressed international asset recovery cooperation involving digital assets and virtual currencies, alongside emerging methods of terrorist financing…

Europol issues two reports on quantum computing risks to cryptocurrency wallets and sensitive encrypted data, urging early preparation for post-quantum cryptography

October 7, 2026

One identifies exposed public keys as a potential vulnerability, while the other examines “harvest now, decrypt later” attacks, although there is no clear evidence of systematic exploitation at scale. Both reports recommend identifying vulnerable assets, strengthening key management and planning a phased transition to post-quantum cryptography. Europol stresses the importance of early preparation, crypto-agility and coordination between…

AMLA identifies 5 areas for MiCA reform to strengthen crypto AML/CFT safeguards, from DeFi and staking to stablecoins and cross-border supervision

October 7, 2026

It calls for consideration of bringing staking, crypto lending and borrowing within the regulatory framework, alongside clearer definitions and control criteria for decentralised finance (DeFi). AMLA also seeks a consistent EU-wide approach to unauthorised stablecoins and a review of whether certain asset-referenced token issuers should be subject to AML/CFT obligations. For cross-border crypto-asset supervision, it recommends clearer information…

AMLA Chair warns of low EU supervisory convergence, prioritises crypto risks and outlines direct supervision plans for major cross-border FIs from 2028

October 7, 2026

Low supervisory convergence, particularly across the non-financial sector, with data and infrastructure gaps remaining key challenges ahead of the 10 July 2027 Single AML Rulebook. For direct supervision, she confirmed that the selected firms will have one EU supervisor and one consistent set of expectations, while crypto remains a strategic priority…

UNODC report reveals 251 tonnes of illicit medical products seized in Central Africa between 2020-2025, with links to organised crime, corruption and conflict financing

October 6, 2026

Produced with WHO and CEMAC, the report identifies cross-border trafficking networks distributing falsified, unauthorised and diverted medicines through maritime, air and land routes, with armed groups potentially profiting from the trade. It calls for harmonised legislation, stronger criminal justice responses and greater international cooperation to disrupt trafficking networks and protect public health…

AMLA finalises 3 draft RTS for the private sector, covering business relationships and linked transactions, CDD and group-wide AML/CFT arrangements, defining key measures to reduce ML/TF

October 5, 2026

The standards clarify requirements for CDD, including lower-risk measures, non-face-to-face verification and PEP screening, while strengthening governance, risk management and secure information sharing across groups. The drafts have been submitted to the European Commission for adoption and are proposed to apply six months after entry into force once adopted and published in the…

FinCEN withdraws proposed reporting requirements for unhosted cryptocurrency wallets and special AML measures targeting virtual currency mixing services, signalling a change in US digital asset regulation

October 5, 2026

The withdrawn proposals would have imposed additional recordkeeping, identity verification and reporting obligations on financial institutions handling certain cryptocurrency transactions. FinCEN cited stakeholder feedback and the administration’s deregulatory agenda, although existing Bank Secrecy Act obligations remain in force.

FinCEN withdraws proposed rules that would have imposed certain regulatory requirements on FIs related to certain digital assets, specifically convertible virtual currencies

October 5, 2026

FinCEN has withdrawn two proposed rules that would have introduced recordkeeping, verification and reporting requirements for certain convertible virtual currency transactions. The proposals covered unhosted wallets and a special measure targeting convertible virtual currency mixing. The withdrawals follow FinCEN’s review of public comments and form part of the Trump Administration’s deregulatory agenda and…

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