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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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CBUAE enforces financial sanctions of AED18.1M on 2 foreign bank branches for breaching AML/CFT regulations, reinforcing its commitment to transparency and financial system integrity

May 28, 2025

The enforcement action which follows examinations revealing significant shortcomings in adherence to the UAE’s AML/CFT framework, signals the CBUAE’s increasingly assertive stance on regulatory compliance. This move underscores a stronger commitment to enforcing financial crime sanctions, particularly in the wake of the UAE’s removal from the Financial Action Task Force (FATF) grey list…

FATF’s Consolidated Assessment ratings (May 2025) highlight Philippines’ removal from the grey list, the addition of Laos and Nepal, and underscore global progress in AML/CFT compliance

May 28, 2025

The Philippines was removed after demonstrating progress in its anti-money laundering and countering the financing of terrorism (AML/CFT) framework. Laos and Nepal were added due to ongoing deficiencies in their AML/CFT systems. The FATF’s actions highlight both progress in some countries and the need for continued improvements in others…

FATF upgrades Indonesia’s proliferation financing rating in its 2025 follow-up assessment, marking a major step forward in the country’s alignment with global AML/CFT standards

May 28, 2025

This upgrade reflects the country’s continued efforts to address deficiencies identified in its 2023 mutual evaluation, particularly through legislative and regulatory reforms aimed at enhancing its AML/CFT framework. With this improvement, Indonesia now has 36 out of 40 FATF Recommendations rated as either Compliant or Largely Compliant, marking a significant step forward in aligning with global standards and reinforcing…

CSSF’s 2025 NRA Report flags foreign criminal proceeds as Luxembourg’s top ML threat – driven by fraud, corruption, tax crimes, and drug trafficking, prompting stronger oversight and transparency

May 27, 2025

The report highlights that ML is primarily fueled by proceeds of foreign crimes, particularly fraud, tax evasion, corruption, and bribery. Domestic threats are less significant, with key risks arising from fraud, robbery, and drug trafficking. Legal arrangements now pose the highest inherent risk, followed by commercial companies, due to opaque and complex ownership structures….

FSB, FATF and OECD holds first Cross-Border Payments Data Forum to align AML/CFT, sanctions, and data privacy standards, driving the G20’s vision for faster, safer, and more efficient global payments

May 27, 2025

The Forum aims to improve cross-border cooperation on data collection, storage, and management in payments. It will also explore how technology and cross-sector collaboration can better align AML/CFT measures with data protection goals, ensuring timely access to necessary information for investigators…

UK Finance 2025 Annual Fraud Report reveals a complex fraud landscape, with 2024 fraud losses held at £1.17bn, despite a 12% rise in reported cases, with APP fraud down but card and investment scams up

May 27, 2025

Authorised Push Payment (APP) fraud saw a decline in both value and volume, attributed to heightened industry investment and consumer awareness. However, unauthorised fraud losses rose to £722 million, driven by a 22% surge in remote purchase fraud, where stolen card details are used for online transactions. Notably, 70% of APP fraud cases originated online, and 16% via telecommunications networks. The financial sector successfully prevented £1.45 billion in unauthorised fraud, marking a 16% improvement from the previous year…

Wolfsberg Group’s 25th Anniversary Forum united global leaders to drive bold actionable reforms – improving SARs, enhancing cross-sector feedback, and advancing smarter FC enforcement strategies

May 26, 2025

The Forum brought together 100 leaders from global financial institutions, regulators, law enforcement, fintechs, and civil society to address the evolving landscape of financial crime. Emphasising a risk-based, trust-driven approach, participants called for clearer definitions of “suspicion,” better alignment of risk assessments across levels, and stronger public-private information sharing backed by legal protections…

 

EU-UAE deepens AML/CTF partnership at 8th Dialogue in Abu Dhabi, pledging stronger judicial coordination, law enforcement cooperation, and intelligence sharing to tackle emerging FC risks 

May 26, 2025

The dialogue focused on deepening strategic partnerships between law enforcement and regulatory bodies, addressing emerging risks in money laundering and terrorist financing, and establishing clearer frameworks for cross-border cooperation. Both parties committed to improving transparency, increasing the effectiveness of financial investigations, and aligning their efforts with international compliance standards…

Singapore Police Force arrested 335 suspects in a 2-week crackdown on over 850 scams, uncovering $15.4M in fraud from impersonation, investment, and e-commerce schemes

May 24, 2025

This operation reflects the authorities’ intensified efforts to address the rising tide of financial crime affecting both individuals and businesses. The suspects, who range widely in age, are being investigated for offences including cheating, money laundering, and operating payment services without proper licensing. By disrupting these networks, the police aim to dismantle the infrastructure that enables scammers to move illicit funds…

Zambia’s Govt launches NPO Terrorist Financing Risk Assessment Report, pledging to strengthen the financial system against ML/TF, and other illicit activities

May 23, 2025

The Zambian government has launched its Non-Profit Organizations Terrorist Financing Risk Assessment Report, identifying only 1.9% of 4,598 NPOs as most at risk, and pledging stronger safeguards against terrorist financing and money laundering…

UK SFO launches bribery probe into Blu-3 and Mace associates over Microsoft data centre project

May 23, 2025

The investigation revolves around allegations that more than £3 million in bribes were paid to secure lucrative contracts, triggering coordinated property searches across the UK and Monaco and leading to three arrests. This case underscores the SFO’s growing use of fast, tech-enabled investigative techniques and its sharpened focus on international cooperation, whistleblower outreach, and the application of the new “failure to prevent fraud”…

CPS Economic Crime Strategy 2025 Final Report reveals UK’s firm stance on FC with 25K+ prosecutions, 85.4% conviction rate, and £1.6bn+ recovered through confiscations and major settlements

May 22, 2025

The report underscores strategic partnerships, modernised disclosure reforms, and increased use of digital tools, all aimed at improving case outcomes, enhancing victim support, and reinforcing public confidence. A new Serious Economic and Organised Crime strategy is now in development to continue this momentum…

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