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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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FATF publishes a targeted report on stablecoins and unhosted wallets, warning that these fast-growing crypto tools, facilitating over 80% of criminal virtual asset transactions, are fueling global ML/TF risks

March 7, 2026

The report highlights the rapid growth of stablecoins—over 250 in circulation with a market value exceeding USD 300 billion by mid‑2025—and their increasing use in illicit finance, accounting for roughly 84% of illicit virtual asset transaction volumes, often via unhosted wallets that bypass regulatory oversight. Their price stability, liquidity, and interoperability make them attractive for legitimate use but also for ML…

White House proclaims a bold crackdown on Western Hemisphere cartels and terrorist gangs, pledging coordinated military, financial, and legal action with 17 allied nations to dismantle their networks

March 7, 2026

The declaration calls for coordinated action among the United States and allied countries to strip criminal organisations of territory, financing and resources that enable violence, drug trafficking and intimidation. It also commits the U.S. to training and mobilising partner-nation militaries and strengthening cooperation to counter external influences and transnational organised-crime networks operating in the region…

White House issues an Executive order to fight cybercrime and fraud, coordinating agencies and the private sector to disrupt transnational criminal networks 

March 6, 2026

The order mandates a comprehensive review and action plan to identify cyber-enabled criminal networks running activities such as ransomware attacks, phishing, impersonation scams and sextortion schemes, which the administration says are often coordinated by transnational organised crime groups. It also instructs federal agencies to prioritise prosecutions of cyber-enabled fraud, enhance intelligence-sharing with private-sector cybersecurity firms, and use diplomatic pressure, sanctions, visa restrictions…

AMLA Executive Board member Derville Rowland warns that €647B in illicit funds flows through Europe each year, urging stronger, harmonised AML measures to tackle cybercrime, trafficking, and fraud

March 6, 2026

She highlighted how criminals increasingly exploit technology, cybercrime, and “crime as a service,” with drug trafficking, human trafficking, and fraud generating vast sums. Despite representing under 10% of the world’s population, Europe handles nearly a quarter of global illicit funds, led by Germany, the UK, and France. Rowland urged businesses to strengthen AML measures, including enhanced risk assessments, monitoring, and board preparedness. Her warning coincides with upcoming EU AML regulations banning large cash payments …

U.S. DOJ files civil forfeiture to seize over $15M from an Iranian oil network using front companies like Wellbred Capital that allegedly laundered funds to support IRGC and terrorist operations

March 6, 2026

The funds allegedly supported the National Iranian Oil Company (NIOC), the IRGC, and IRGC-Quds Force, all designated terrorist organizations, in violation of U.S. sanctions under the International Economic Emergency Powers Act (IEEPA). Shamkhani’s network operated a fleet of vessels, front companies, and shell firms—including Wellbred Capital Pte. Ltd. and Wellbred Trading DMCC—to launder profits from Iranian and Russian oil sales, conceal Iranian involvement, and fund terrorist activities. U.S. authorities, including DOJ, OFAC, FBI, HSI, and IRS-CI, emphasized coordinated enforcement to dismantle the network, protect the U.S. financial system, and prevent funds from reaching Iran’s terrorist proxies…

Europol supports in exposing a global crime network after Swedish police analysed seized phones, triggering 15 arrests across Australia, Spain, Sweden and Thailand linked to drug trafficking and ML

March 6, 2026

The intelligence exposed a sophisticated criminal structure operating across Europe, Asia, and Australia, coordinating large-scale drug trafficking, violence, and money laundering. Authorities in several countries launched coordinated enforcement actions that resulted in 15 arrests across Australia, Spain, Sweden, and Thailand, alongside searches and asset seizures, dealing a significant blow to a transnational organised crime group operating at the highest levels of the global criminal landscape…

Canada’s Durham Regional Police reveals that Project Fletcher has resulted in 8 arrests in a $3M payroll‑diversion and money‑laundering fraud scheme, with 5 suspects still at large

March 5, 2026

Investigators allege a company operations manager orchestrated a scheme lasting more than 15 years that diverted employee wages and submitted fake subcontractor invoices, defrauding a Durham Region business of over CAD $3 million between 2015 and 2021 alone. A forensic audit uncovered about 270 fraudulent cheques routed through 22 bank accounts, with proceeds laundered through cheque-cashing services, multiple financial institutions and international transfers; the probe—supported by FINTRAC and forensic accountants…

AUSTRAC publishes guidance on its new compulsory examination powers, detailing how it can require individuals or businesses to attend, answer questions, and provide documents for AML/CTF compliance

March 5, 2026

The guidance clarifies when and how these powers will be used, emphasising that examinations are fact-finding tools rather than punitive measures and do not imply wrongdoing. It outlines protections such as legal representation and consultation with health professionals, and explains how information provided will be handled. These reforms strengthen AUSTRAC’s ability to detect and disrupt money‑laundering and serious organised crime while providing businesses with clarity on their obligations…

Europol backs a Spanish crackdown on a money-laundering ring exploiting Ukrainian women, with 12 arrests and exposing links between sexual exploitation and organised financial crime

March 5, 2026

The investigation led to 12 arrests in Spain (eight in Alicante and four in Valencia), nine property searches, and the identification of 55 victims. The group allegedly recruited and controlled Ukrainian women, forcing them into prostitution while laundering the illicit profits through a network of bank accounts and financial channels, highlighting the close links between human trafficking, sexual exploitation, and organised money-laundering operations…

FATF 2025 Mutual Evaluation Report finds Eritrea’s AML/CFT framework full of gaps – no operational FIU, weak legal cooperation, and limited enforcement, leaving the country highly exposed to ML/TF risks

March 4, 2026

The mutual evaluation notes that Eritrea’s financial system is small and largely state-controlled, which limits exposure to global money-laundering and terrorist-financing risks but has also resulted in minimal institutional capacity, weak risk understanding and limited implementation of AML/CFT controls. Assessors highlight significant deficiencies—including the absence of meaningful international cooperation, weak supervisory structures and limited investigative or asset-recovery activity—while recommending stronger…

FATF updates its Consolidated Assessment ratings (2014–2026) adding Kuwait and Papua New Guinea to the grey list and including new mutual evaluation reports for Austria, Italy, & Singapore

March 4, 2026

The Assessment Ratings resource lists the results that jurisdictions have received for both effectiveness (how well AML/CFT systems work in practice) and technical compliance (alignment of laws and regulations with the FATF Recommendations) based on past mutual evaluations. It is designed to be read alongside the detailed mutual evaluation reports that explain the context behind each rating and highlight strengths…

UK DBT issues updated statutory guidance on People with Significant Control to help companies identify and report individuals or entities with significant influence, ensure BO transparency, and comply with the Companies Act 2006

March 4, 2026

It defines the criteria for determining significant control, including the right to exercise, or actually exercising, power over key company decisions, such as appointing directors, influencing financial policies, or controlling voting rights. The guidance offers practical examples to help companies accurately decide who must be recorded on the PSC register and reported to Companies House, ensuring consistency and compliance across firms. It also clarifies situations where certain roles or relationships…

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