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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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Swiss FINMA 2025 Consumer Protection Report raises alarm over unregulated financial advice on AI platforms and social media, fueling fraud and social manipulation, urging tougher oversight

April 30, 2025

FINMA warns of increasing consumer risks driven by digitalisation and viral financial trends on social media and AI platforms, where unregulated advice from AI tools and “finfluencers” is promoting high-risk investments like crypto and unlisted shares. Fraud cases, particularly those involving social manipulation where consumers are deceived into transferring money, have surged…

RUSI’s policy brief outlines critical gaps in the UK’s response to illicit finance and calls for reforms in governance, coordination, funding, and long-term strategic alignment across Govt

April 30, 2025

Despite the critical nature of combating ML and FC, the government’s approach remains fragmented, with a lack of strategic leadership and effective coordination across key departments. The absence of a unified vision has resulted in an ad hoc system, where the success of efforts against illicit finance relies on personal relationships and informal networks among civil servants rather than clear, long-term planning…

US DoS sanctions 7 entities for facilitating illicit trade of Iranian petroleum and petrochemical products, by falsifying documents and hiding shipment origins to evade sanctions and generate revenue

April 30, 2025

This move is part of the ongoing U.S. strategy to disrupt sanctions evasion networks that enable the Iranian regime to circumvent restrictions and generate revenue for destabilizing activities. The sanctions target entities engaged in the purchase, sale, and transport of Iranian petrochemical and petroleum products, as well as shipping facilitators who obfuscate and deceive in order to move these goods across borders…

US GAO report reveals the key role of BO data in uncovering fraud in Govt programs, exposing use of shell companies, urging FinCEN’s collaboration to bolster fraud detection and curb illicit finance

April 29, 2025

This information is vital for identifying the true owners of entities involved in government contracts or receiving federal benefits, which is crucial in detecting and preventing fraud schemes. The report highlights how criminals and corrupt actors have used shell companies to hide ownership details, enabling them to exploit government resources, steal taxpayer dollars, and evade detection…

HMT’s new draft crypto rules aim to clamp down on fraud ensuring stricter regulatory oversight, transparency and consumer protection while positioning the UK as a global digital asset hub

April 29, 2025

This move comes as part of the government’s broader strategy to position the UK as a global leader in digital finance while ensuring that consumers are safeguarded from the risks associated with unregulated crypto activities. Under these new regulations, firms dealing in crypto assets such as Bitcoin and Ethereum will be held to high standards of transparency, operational resilience, and consumer protection, bringing them in line with traditional…

US SEC targets a $91m Ponzi scheme operated by 3 Texans, defrauding 200+ investors with false promises of bond trading profits and misappropriated funds

April 29, 2025

Between May 2021 and February 2024, the trio allegedly ran the scheme through a trust controlled by Alexander, Vanguard Holdings Group Irrevocable Trust (VHG), promising investors guaranteed returns of 3% to 6% per month from international bond trading activities. However, the SEC claims that VHG had no actual source of revenue and that the returns paid to investors were simply Ponzi payments…

UNODC’s latest report exposes how Asian crime syndicates are driving $37bn in global losses through AI-driven cyber fraud and blockchain-based ML schemes

April 28, 2025

The increasing use of technologies like AI, deepfakes, and underground banking has facilitated the growth of these operations, making them more scalable and harder to detect. The UNODC urges enhanced international cooperation and preparedness to combat the rising intensity and geographical spread of these cyber-enabled crimes. The report estimates that hundreds of scam centres generate…

EBA launches an ESG dashboard to provide centralised, comparable climate risk indicators for the EU/EEA banking sector, focusing on transition risks, green financing, and low green asset ratios

April 25, 2025

The dashboard reveals a significant exposure of EU/EEA banks to sectors that contribute heavily to climate change, raising concerns over potential transition risks as these companies may be impacted by policy changes, technological shifts, or evolving consumer preferences. While physical risks are somewhat lower, with most countries showing exposures below 30%, the dashboard emphasizes the growing importance of monitoring…

INTERPOL and the Inter-American Development Bank join forces to tackle organised crime in Latin America and the Caribbean, disrupting illicit markets and boosting regional security

April 25, 2025

The primary focus of their joint efforts will be disrupting illegal markets that fuel criminal activities across the region, including drug trafficking, human trafficking, and arms smuggling. The partnership seeks to strengthen the capacity of national law enforcement agencies, improve regional security measures, and develop coordinated strategies to fight organized crime more effectively. By promoting regional collaboration, the initiative aims…

RUSI’s STR podcast examines the growing issue of online child sexual exploitation and the crucial role financial intelligence plays in detecting, disrupting, and investigating perpetrators

April 25, 2025

Through the podcast, listeners are exposed to critical discussions on the financial dimensions of this crime, revealing how illicit transactions and financial flows are key to both perpetrating and detecting these heinous activities. Experts from around the world, including law enforcement and financial intelligence professionals, share key insights into emerging detection strategies and the financial indicators that can help disrupt these crimes…

Latvia’s 2024 FIU report reveals key AML developments and strategic priorities, focusing on sanctions centralisation and stronger customs controls amid rising financial crime threats

April 24, 2025

The report outlines key strategic priorities, with particular emphasis on the centralization of sanctions implementation functions to streamline enforcement and increase efficiency. A notable achievement was the prevention of over 8,500 shipments of sanctioned goods, reflecting enhanced controls at Latvia’s customs checkpoints. These measures were implemented to strengthen the country’s defenses against illicit financial activities…

Federal Reserve Board ends advance crypto reporting thereby withdraws oversight letters and moves toward integrated supervision of digital asset activities

April 24, 2025

The Federal Reserve Board has announced a significant shift in its approach to overseeing crypto-related activities by ending the requirement for state member banks to provide advance notice of their involvement in crypto-asset and dollar token operations. This move includes the withdrawal of key supervisory letters issued in 2022 and 2023, which previously laid out expectations for crypto activity disclosures and supervisory nonobjection…

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