Our extensive knowledge at your fingertips

Over 20 years of articles and reference material

A page dedicated to global, regional, UK and US anti-money laundering developments and initiatives.

Browse the resource database or make a sub-selection:

Latest editions

Search

Companies House updates its transition plan for reforming its role under the Economic Crime and Corporate Transparency Act 2023, adding two key implementation dates

There’ll be new responsibilities for:  all new and existing company directors, people with significant control of a company (PSCs), anyone who files information on behalf of a company. This is a large and complex set of changes which will be introduced in phases over the coming years. The ongoing operation of the changes will be paid for by an increase in Companies House fees, on a cost recovery basis. We review our fees every year to make sure they’re set at the right level. We increased some of our fees on 1 May 2024.

 

APGML finds that Samoa has made progress in addressing the technical compliance deficiencies identified in its Mutual Evaluation and Follow-up Reports

Samoa has made advancements since its 2015 Mutual Evaluation Report (MER), including amendments to legislation and issuing guidance for financial institutions.
Moderate to major shortcomings remain in areas such as ongoing due diligence, enforcement of BO requirements, and supervisory frameworks, particularly concerning international legal persons and VASPs.

BVI Govt publishes draft regulations setting out the conditions under which 3rd parties will be able to access personal information held in its central register of beneficial ownership

Proposals  will allow access to specific groups with a legitimate interest, such as financial institutions, media, civil society, and academics, to access beneficial ownership registers. Stakeholder feedback is sought on the definition of legitimate interest and protection mechanisms…

 

SEC Acting Chairman Uyeda launches a Crypto Task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets

The Task Force’s focus will be to help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously…

US DoJ charges CLS Global FZC LLC, a cryptocurrency financial services firm, with ‘wash trading’- fraudulent manipulation of cryptocurrency trading volumes

CLS Global a UAE-based cryptocurrency firm has agreed to plead guilty to charges of market manipulation and wire fraud, paying a fine of $428,059. The company is banned from U.S. cryptocurrency markets and must submit annual certifications ensuring compliance. The charges stem from involvement in “wash trading” through a fake crypto company, NexFundAI…

MENAFATF notes Iraq’s progress in confiscating criminal proceeds, prosecuting ML/TF cases, and enhancing international cooperation, as well as challenges in supervision and TFS implementation

MENAFAT undertook its assessment of the effectiveness of Iraq’s measures to protect the financial system from abuse and its level of compliance with the FATF Recommendations, from 6 to 23 August 2023…

 

 

Canada releases data on assets frozen and blocked transactions under the Special Economic Measures Act from Feb 2022 – Dec 2024

The RCMP has announced significant progress in enforcing Canada’s Special Economic Measures Act with substantial assets frozen and financial transactions blocked. Since February 24, 2022, approximately CAD $140.2 million in assets have been frozen and over CAD $317.5 million in transactions blocked under the Special Economic Measures (Russia) Regulations. In addition, under the Belarus regulations…

GCFP publishes the Enterprise Fraud Risk Assessment Guide, offering a structured approach to identify, assess, and mitigate fraud risks, targeting the £81bn annual fraud risk in the public sector

It also considers fraud risks in public-private partnerships (PPPs), where shared responsibilities, complex regulatory environments, evolving compliance requirements, and funding streams create heightened vulnerabilities across various sectors and jurisdictions…

GFI releases report on Digital Asset Ecosystem in El Salvador: Challenges and risks to countercheck Financial Crime

Provides a thorough analysis of technological advancements, financial crime prevention, and personal data protection in the wake of Bitcoin’s adoption as legal tender in 2021…

Europol holds its largest-ever operation to seize global criminal assets, uniting over 80 experts to trace, freeze, and seize organized crime profits, including €200,000 in cryptocurrencies

Over 80 financial experts and representatives from 43 law enforcement agencies across 28 countries joined Europol for Project A.S.S.E.T. (Asset Search & Seize Enforcement Taskforce). This groundbreaking initiative, conducted from 13 to 17 January, aims to enhance global efforts to identify, freeze, and seize criminal assets. The event also included key contributions from international organizations such as Eurojust and Interpol, demonstrating a coordinated global effort…

SEC announces 200 enforcement actions in Q1 of FY 2025, the highest number filed in any first quarter since at least 2000

Reports 200 enforcement actions in the first quarter of fiscal year 2025 (October-December 2024), including 118 standalone actions, marking the highest number of filings for this period since 2000. Of these, 75 were filed in October 2024 alone. The cases addressed violations such as financial misstatements, misleading disclosures, conflicts of interest, bribery schemes, fraud targeting retail investors, and misleading claims about artificial intelligence.

 

 

US DOJ sentences international virtual currency vendor for ML conspiracy involving over $20m in criminal proceeds

Anurag Murarka has been sentenced for laundering over US$20 million in criminal proceeds between April 2021 and September 2023. Operating from India, he used dark web marketplaces and cryptocurrency working through a hawala network to deliver illicit cash to the US Murarka knowingly aided hackers and drug traffickers in hiding their illegal funds. His arrest came after a joint FBI and U.S. Postal Inspection Service operation…