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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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U.S. authorities, under ‘Operation PowerOFF’, conduct coordinated cyber operations to dismantle global DDoS-for-hire services enabling illegal attacks on websites and critical systems worldwide

April 16, 2026

The US DoJ, along with international law enforcement partners, seizes multiple domains and infrastructure linked to botnet operators, disrupts backend servers, and launches a global awareness campaign to deter cybercrime. The action targets services allegedly used to attack schools, government systems, gaming platforms, and critical infrastructure, underscoring ongoing efforts to combat cybercrime networks that threaten internet stability and security…

FinCEN reports its Rapid Response Program has intercepted nearly $2B in cyber-fraud losses by rapidly coordinating across jurisdictions to trace, freeze, and recover funds stolen by global scam networks

April 15, 2026

The programme operates through partnerships with U.S. law enforcement and foreign financial intelligence units to identify and halt fraudulent cross-border transactions before funds are dissipated. Financial institutions play a key role by promptly reporting suspicious activity and triggering rapid intervention, with effectiveness highest when incidents are reported within tight timeframes…

AUSTRAC flags a major AML blind spot in wealth management, with 98% of firms filing no suspicious matter reports in 2025, signalling serious gaps in detecting financial crime risks

April 15, 2026

Briefing highlights that most firms report no high-risk customers or suspicious matters despite evidence of exposure to higher-risk scenarios, indicating weak risk identification and reporting practices. It also emphasises vulnerabilities linked to digital channels, cyber-enabled fraud, and misuse of customer identities, and calls for stronger controls and more effective AML/CFT reporting to improve detection…

FCA consults on Crypto perimeter guidance to clarify regulatory scope ahead of the Sept 2026 authorisation regime, strengthening oversight and FC controls – feedback until 3 June 2026

April 15, 2026

The Financial Conduct Authority is consulting on its proposed perimeter guidance for the UK’s future crypto regime to clarify when authorisation will be required for key regulated activities—such as stablecoin issuance, custody, trading platforms, dealing, arranging deals and staking—ahead of firms being able to apply for authorisation from September 2026; the consultation, open until 3 June 2026, supports preparations for the wider regulatory framework aimed at strengthening oversight, market integrity and financial crime controls…

AUSTRAC highlights that banks are strengthening oversight and reporting to disrupt illicit tobacco-related financial flows, helping to identify and cut off criminal profits linked to organised crime

April 14, 2026

The report emphasises the scale of the illicit tobacco market as a serious financial crime threat associated with tax evasion, violence, and broader organised criminal activity. Enhanced transaction monitoring, suspicious matter reporting, and intelligence sharing between banks and authorities support improved detection and more effective law enforcement disruption efforts.

EP’s Briefing compares AML regimes across major jurisdictions, noting key differences in supervision, transparency, crypto oversight and enforcement despite common FATF standards

April 13, 2026

The framework compares how major jurisdictions (UK, EU, US, Japan, Singapore) structure and operate their AML systems – covering legal foundations, supervision, enforcement, beneficial ownership, and emerging risks like crypto. While all align with FATF standards, it highlights key differences in implementation and oversight that shape overall effectiveness….

Dutch police have arrested 8 people behind a massive fake ID network that churned out nearly a million forged documents, fueling global fraud, phishing, and ML schemes

April 13, 2026

The investigation, based on data seized from servers in a prior raid, targeted users of the now-shut VerifTools site, which allowed criminals to create fake passports, driving licences, and residence permits to bypass identity checks and access financial systems. Authorities say the platform earned millions in illicit revenue and was widely used to support phishing, bank fraud, and money laundering schemes. Additional suspects have been identified as the investigation continues…

AML RightSource, in its article “AMLA Explained: A Plain-Language Introduction,” highlights the AML Act as a key U.S. reform enhancing transparency, BO disclosure, and coordination against FC

April 13, 2026

Key features include a data-driven supervisory model, ongoing consultation on Regulatory Technical Standards (RTS), and a phased rollout of rules from 2027, with direct supervision expected from 2028. While the aim is harmonisation, tensions remain between a single rulebook and differing national risk profiles. Industry concerns include increased compliance burdens, inconsistencies with existing KYC practices, and potential challenges around digital onboarding and beneficial ownership data. Fraud regulation is notably not a central focus…

FCA flags weaknesses in firms’ CDD and enhanced checks, including poor documentation, weak governance and inconsistent monitoring, raising concerns over exposure to ML and FC risks

April 13, 2026

FCA finds that while many firms apply a risk-based approach and tailor checks for higher-risk customers such as PEPs, there are widespread weaknesses in practice, including insufficiently detailed policies, poor documentation of EDD measures, unclear review cycles, and inconsistent record-keeping of key customer information such as source of funds and purpose of relationships. The FCA also highlights gaps in governance, including unclear senior management sign-off processes…

US Treasury proposes a rule to subject permitted payment stablecoin issuers to Bank Secrecy Act AML/CFT and sanctions obligations, bringing them within the core U.S. financial crime regulatory framework

April 10, 2026

The proposal requires issuers to implement risk-based AML/CFT programmes, including customer due diligence, suspicious activity reporting, independent testing, and designated compliance officers. It also mandates comprehensive sanctions compliance capabilities—such as the ability to block or freeze transactions—while tailoring requirements to the size and complexity of stablecoin business models.

OECD’s Consumer Finance Risk Monitor 2026 report flags rising FC risks from AI impersonation, phishing, investment and crypto fraud, with 85% of jurisdictions citing scams as the top risk

April 10, 2026

Across 60 jurisdictions, financial scams (including phishing, impersonation fraud, and increasingly AI-enabled attacks) are identified as the top consumer risk, while debt pressures and complex digital products such as crypto, BNPL, and online lending are further weakening household financial resilience. The report also notes a sharp rise in consumer complaints and warns that digitalisation, while improving access and convenience, is simultaneously increasing exposure to fraud, financial exclusion, and misleading or opaque financial practices…

NCA’s UKFIU SARs Reporter Booklet (Mar 26) reveals large-scale fraud and ML schemes, including £2.4M VAT frauds, £600k+ asset freezes, and complex organised crime networks 

April 10, 2026

It shows how SARs are instrumental in uncovering large-scale illicit finance schemes, including charity-linked diversion fraud exceeding £300,000, VAT frauds over £2.4 million, payroll fraud and shell company abuse involving £4 million+ turnover, and underground banking networks linked to organised crime groups. The cases also demonstrate widespread use of layering techniques, mule accounts, false invoicing, and rapid fund transfers to disguise criminal proceeds…

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