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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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EC’s 2024 PIF Report reveals a 26% rise in reported fraud cases, highlights progress in digital anti-fraud tools, and calls for stronger data sharing, mandatory national strategies, and governance reforms

July 22, 2025

Member States reported a total of 13,589 irregularities in 2024, with confirmed cases of fraud rising to 1,364 (+26% year-on-year). While overall reporting dipped slightly, fraud detection increased suggesting improved vigilance and better follow-up procedures. The report underscores the growing role of digitalisation and innovative IT tools (such as Arachne, EDES, SUMMA, IMS) in detecting and preventing fraud… ..

CFATF’s 2025 AML/CFT Evaluation Report on Curaçao praises its solid legal framework but raises concerns over weak enforcement, opaque ownership structures, and gaps in CFT measures

July 22, 2025

The report recognises a robust legal and institutional AML/CFT framework in Curaçao, but identifies critical weaknesses in customer due diligence, beneficial ownership transparency, and terrorist financing criminalisation. CFATF calls for improved enforcement, enhanced supervision of non-profit organisations, and stronger regulation of virtual asset service providers to increase overall effectiveness…

 

CFATF’s 2025 AML/CFT Evaluation report on Sint Maarten reveals major gaps in effectiveness and sector‑specific risk oversight, despite technical compliance improvements since the previous review

July 22, 2025

CFATF’s 2025 mutual evaluation of Sint Maarten highlights significant weaknesses in the effectiveness of its AML/CFT framework, particularly in risk-based supervision, sanctions enforcement, and financial intelligence. While the jurisdiction has improved technical compliance since its last review, substantial gaps remain in understanding sector-specific risks, regulating virtual assets, and ensuring transparency around beneficial ownership…

NCA’s 2024–25 Annual Report highlights a year of intensified FC crackdowns, delivering 450 high‑impact disruptions – 72% above target with stronger border seizures, global reach, and tech‑driven growth

July 22, 2025

Backed by £58 million in additional funding, the NCA expanded its workforce, modernised technology, and enhanced coordination under the National Control Strategy. Operating from UK hubs and through officers stationed in over 50 countries, the Agency maintained strong financial stewardship with an unqualified audit, while governance bodies ensured strategic oversight…

FATF highlights the evolving tactics and emerging threats in TF, calling for adaptive, intelligence-led responses and enhanced global information sharing to strengthen detection and disruption

July 22, 2025

Experts emphasized the persistent ability of terrorist groups to adapt their financing strategies, exploiting vulnerabilities in the global financial system. The discussion introduced updated risk insights, underscoring emerging threats and future…

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…

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