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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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Isle of Man’s first standalone TF National Risk Assessment flags transit financing as the top threat while affirming strong cross-sector defences ahead of its 2026 MONEYVAL review

July 22, 2025

The Isle of Man’s 2025 Terrorist Financing National Risk Assessment identifies an overall medium-low risk of terrorist financing, with the most significant threat stemming from the potential misuse of its financial system for transit-based financing. The assessment highlights strong cross-sector collaboration, robust regulatory frameworks, and ongoing efforts to strengthen the jurisdiction’s resilience ahead of its 2026 MONEYVAL evaluation…

Wolfsberg reaffirms its commitment to the RBA, urging banks to embed ‘Proportionality, Prioritisation, and Effectiveness’ in FC controls, with plans to update its 2006 RBA Framework and 2015 FAQs

July 22, 2025

It urges institutions to tailor controls to their specific risk profiles and business contexts (proportionality), focus resources on higher‑risk customers and activities rather than applying blanket measures (prioritisation), and ensure programmes deliver measurable, outcome‑driven results (effectiveness). The statement also commits to formally updating its 2006 RBA guidance and 2015 risk assessment FAQs…

UK HM Treasury issues Consultation response on improving the effectiveness of Money Laundering Regulations calling for clearer, fairer, and more risk-based due diligence rules

July 21, 2025

Other changes address onboarding procedures during bank insolvencies, currency threshold adjustments, better information sharing among authorities, and regulation of off-the-shelf company sales. HMT plans to publish draft legislation later this year to formalize these reforms, reflecting a balanced approach to enhancing effectiveness without overburdening businesses…

FinCEN delays its Investment Adviser AML Rule’s effective date from 2026 to 2028, aiming to refine anti-illicit finance measures while easing compliance for firms with diverse risk profiles

July 21, 2025

On July 21, 2025, the U.S. Department of the Treasury’s FinCEN announced a delay in the effective date of the Investment Adviser AML Rule—from January 1, 2026 to January 1, 2028—while committing to review the rule’s scope to ensure it accounts for the varied business models and risk profiles in the IA sector. During the postponement, FinCEN, together with the SEC, plans to issue exemptive relief and revisit related proposed customer identification requirements, aiming to provide clarity and reduce regulatory uncertainty…

NCA and FCA publish nine priorities for the UK’s regulated sector to combat the biggest economic crime threats, aligning with UK’s 2025 NRA

July 21, 2025

The priorities include combatting cash-based money-laundering, the exploitation of money mules, and fraud associated with overseas jurisdictions. The NCA estimates that over £100 billion is laundered through or within the UK each year. The publication meets a commitment in the UK’s second Economic Crime Plan and marks a significant step forward in aligning public and private sector efforts to tackle financial crime and terrorist financing threats…

ASC probes CatalX CTS Ltd., an Alberta crypto-asset trading platform and its top executives over allegations of breaching securities laws by misappropriating over CAD 14M in client assets

July 18, 2025

The ASC claims funds were diverted to personal accounts starting in 2019, with the company failing to report the fraud promptly and lacking adequate safeguards to prevent misuse. A hearing is scheduled for September 2025, highlighting growing regulatory scrutiny over crypto platforms and their custodial responsibilities in Canada…

President Trump signs the GENIUS Act marking a milestone in digital asset regulation, establishing a robust stablecoin framework that boosts U.S. crypto innovation and strengthens FC safeguards

July 18, 2025

Key provisions include mandatory 100% reserve backing with liquid assets such as U.S. dollars or short-term Treasuries, monthly public disclosures of reserve compositions, and strict marketing rules to prevent misleading claims about government backing. The Act also subjects stablecoin issuers to the Bank Secrecy Act, requiring effective anti-money laundering and sanctions compliance programs…

UNODC’s ‘Ukraine Organised Crime Dynamics’ report warns the war is driving drug trafficking, cyber fraud, arms smuggling, and human trafficking – urging stronger controls and cooperation

July 18, 2025

The conflict has displaced millions, increasing vulnerabilities to human trafficking and draft evasion schemes. With criminal groups exploiting wartime conditions, the report warns of growing economic and social harm, urging enhanced border controls, centralized monitoring, and stronger public-private partnerships to combat these evolving threats effectively…

Europol’s paper, ‘From Streets to Screens,’ calls for robust digital policing through ethical data use, an enhanced online presence, and private-sector partnerships to combat cybercrime

July 18, 2025

The paper outlines strategies for law enforcement to effectively combat crime in the online world. The paper emphasizes the necessity for police to establish a visible and transparent presence in digital spaces to build trust with hard-to-reach and at-risk communities. It advocates for the ethical use of data and the development of digital capabilities to address the challenges posed by online crime…

OLAF leads a major cross-border crackdown in Ukraine, exposing eight illegal workshops producing €2.3M in counterfeit pesticides

July 17, 2025

The European Anti-Fraud Office (OLAF) played a central role in coordinating a Joint Investigation Team with Ukrainian and Romanian authorities to dismantle a large-scale underground pesticide production and counterfeiting network. The operation resulted in the seizure of over 175 tons of counterfeit agrochemicals and related materials valued at more than €2.3 million, safeguarding food security and environmental safety in the EU and beyond…

OCCRP reports Cambodian authorities arrested nearly 1,000 mostly foreign suspects in a major crackdown on scam networks tied to cyber fraud, ML, and human trafficking

July 17, 2025

The raids spanned multiple provinces and resulted in seizures of computers and mobile phones used in these schemes. While the operation demonstrates Cambodia’s efforts to tackle escalating cyber-enabled financial crimes and respond to international pressure, human rights groups have raised concerns about allegations of forced labor, human trafficking…

Home Office 2024–25 report flags migrant surges and boosts law enforcement powers to tackle border and financial crime risks

July 17, 2025

The Home Office Annual Report 2024–25 highlights significant operational challenges related to a 24% rise in small boat migrant crossings and the accommodation of over 100,000 asylum seekers, underscoring risks linked to immigration and border enforcement. It also outlines strategic initiatives, including enhanced law enforcement powers via the Crime and Policing Bill and a new policing performance framework, which are critical for addressing financial crime risks tied to migration, human trafficking, and related illicit activities.

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