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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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Home Office issues independent review of disclosure and fraud offences aiming to modernise disclosure and benefiting individuals and corporations by tackling key inefficiencies

March 20, 2025

The review by Jonathan Fisher KC outlines how the rapid growth of digital data is overwhelming investigators, prosecutors and defence teams, leading to delays, inefficiencies and risks to fair trial rights. It calls for urgent reform to modernise disclosure practices and better tackle complex fraud cases…

 

HMRC urges informal money transfer providers, such as Hawala operators to register for AML supervision, warning of penalties, prosecution, or closure for non-compliance

March 20, 2025

HMRC allows businesses to remain compliant with UK regulations, avoiding the significant risks associated with non-compliance such as hefty fines, reputational damage, or even closure. The campaign emphasize that regulatory compliance is not only essential for legal operation but also helps to protect the integrity of the financial system and safeguard the communities these services support…

EBA issues consultation on the first set of rules that will complement the EU AML Package

March 19, 2025

They relate to information institutions will need to obtain in the CDD context; how AMLA will decide which institutions it will supervise directly; how national supervisors will assess ML/TF risks associated with entities within their remit; and how they will enforce compliance with AML/CFT rules. The consultation is open until 6 June. These technical standards will be central to the EU’s new AML/CFT…

NCA charges man after Border Force officers at Heathrow Airport seizes £1m in suspected illicit cash linked to criminal activity, intercepting him before his flight to Beirut

March 19, 2025

Serious and organised crime in the UK is often driven by financial gain. Border Force’s £1M cash seizure at Heathrow, due to officers’ vigilance, has triggered an NCA investigation. Authorities remain committed to disrupting criminal networks and safeguarding the public…

Companies House launches ACSP registration to strengthen AML oversight, enforce ID checks, and close financial crime loopholes in the UK

March 18, 2025

The new Authorised Corporate Service Provider (ACSP) registration service is being launched under the Economic Crime and Corporate Transparency Act, requiring third-party agents to verify identities and register for enhanced oversight in the UK’s business landscape.

 

ENISA’s European finance sector Cyber Threat Landscape Report reveals 488 cyber incidents, with a rise in crypto-related cybercrime, with banks the most affected (46%)

March 18, 2025

The report highlights a surge in ransomware, social engineering, data breaches, and crypto-related cybercrime. Banks were the most frequently targeted (46%), followed by public finance organizations (13%). Companies must focus on strengthening cybersecurity defenses, enhancing incident response plans, and ensuring compliance with evolving regulations to mitigate growing threats and prevent significant financial losses…

OCCRP reports Spanish authorities uncovered a €1.3m Social Security fraud involving care and construction firms, with 4 arrests for concealing income and evading payments

March 18, 2025

Financial audits revealed hidden assets leading to the arrest of four individuals. The companies, one in elderly care and the other in construction, used deceptive practices to evade Social Security dues, including hiding income and using third-party accounts. The investigation highlights the effectiveness of financial audits in detecting fraud and underscores the legal consequences of such financial crimes…

UKFIU SARs reporter booklet highlights £190K fraud case, alongside case studies on shell companies, VAT fraud, illicit crypto transfers, ML through gambling, and misuse of public funds

March 18, 2025

A financial institution flagged a high-turnover business account with £10M in annual transactions, including a £50,000 fraud-linked transfer and crypto payments. A DAML SAR was submitted to exit the relationship, but the UKFIU refused and escalated it to law enforcement. Investigators uncovered a larger fraud network, enabling multi-agency intelligence sharing…

Europol launches EU Serious and Organised Crime Threat Assessment 2025, highlighting a fundamental shift in organised crime – evolving tactics, tools & structures

March 18, 2025

The report reveals key trends in organised crime, including the increasing use of digital platforms and technology for cybercrime and trafficking, and the rise of transnational networks exploiting EU borders for drug, weapon, and human trafficking. It also highlights growing threats linked to high-value goods, money laundering, and corruption in both established and emerging markets…

 

FCA declines Zeux Limited’s registration as a cryptoasset exchange provider, citing inadequate AML controls and ineffective risk management

March 17, 2025

The FCA found weaknesses in Zeux’s Business-Wide Risk Assessment, including inadequate customer risk analysis, failure to assess geographic risks, and missing controls for crypto transactions. Zeux’s incomplete risk framework raises concerns over its ability to detect illicit finance, posing a regulatory hurdle for its operations in the UK.

 

 

New Zealand’s FIU National Risk Assessment 2024 highlights current ML/TF risks, including major threats such as fraud, drug-related crime, and tax evasion, while also identifying vulnerable sectors

March 17, 2025

It highlights the vulnerability of sectors like financial institutions, real estate, and legal services to exploitation by criminals. The report also calls for enhanced vigilance and stronger compliance measures across these industries to effectively combat illicit activities and improve the country’s AML/CFT framework…

GIABA commends Sierra Leone for strengthening its AML/CFT laws, resulting in several re-ratings, but notes that gaps remain in addressing WMD financing

March 16, 2025

Sierra Leone’s new AML/CFT/PF Act 2024 addresses key deficiencies, improving compliance with FATF standards and earning re-ratings on multiple recommendations. However, progress on Recommendation 7 remains insufficient for an upgrade, signalling areas for further improvements…

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