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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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MONEYVAL commends Bulgaria’s improved AML/CFT compliance, particularly in risk-based supervision and data reporting, but notes gaps remain in enforcement, tech adoption, and sanctions

June 17, 2025

Bulgaria has enhanced its AML/CFT framework by improving compliance with FATF Recommendations on targeted financial sanctions, customer due diligence, beneficial ownership, DNFBP supervision, and guidance. While progress has been made, eight Recommendations remain partially compliant, and Bulgaria is expected to report further advancements to MONEYVAL within one year…

UK’s 2nd progress report on ECCTA 2023 signals a tougher stance on corporate abuse, with stronger Companies House powers, stricter ownership transparency, and faster ID checks to fight fraud and FC

June 17, 2025

Key reforms include the phased introduction of identity verification for directors and beneficial owners by autumn 2025, enhanced oversight of limited partnerships, and improvements to the Register of Overseas Entities. Thousands of compliance warnings and penalties have been issued, while data protection measures have been bolstered. Backed by over £100 million in funding, these measures are part of a long-term rollout through 2027, aimed at tackling fraud, preventing abuse of UK company structures, and bolstering economic crime enforcement…

Companies House’s 2025–26 Business Plan signals a bold shift in tackling economic crime, equipping the agency with cutting-edge digital tools, tighter ID checks, and expanded powers to curb abuse

June 17, 2025

A key focus is enhancing data integrity through AI-driven analytics, cloud-based platforms, and cross-agency intelligence sharing. Reforms will also tackle misuse of registered addresses, improve trust transparency, and modernise digital services—positioning Companies House as a proactive gatekeeper against illicit financial activity…

Nauru becomes the first Pacific nation to launch a digital asset regulator, aiming to attract global crypto businesses while enforcing robust AML and cybersecurity standards

June 17, 2025

The legislation aims to establish a clear, robust framework for regulating virtual asset service providers (VASPs) and digital financial innovation, ensuring compliance with international AML and transparency standards. Through the Command Ridge Virtual Asset Authority, Nauru seeks to attract investment, diversify revenue streams, and position itself as a hub for Web3 development in the Pacific…

OLAF’s 2024 Annual Report uncovers over €870M in EU fund fraud, recommends €1bn in recoveries, prevents €43M in misuse, and reports major crackdowns on fraud, smuggling, counterfeiting, and ML

June 16, 2025

The agency closed 265 investigations and issued 309 recommendations, targeting fraud schemes involving procurement manipulation, customs evasion, smuggling, and counterfeiting. OLAF also tackled digital fraud and supported major cross-border cases, including a €9.5 million money laundering network tied to EU IT funds. Strengthened collaboration with EPPO and international partners marked a continued push to safeguard the EU budget through improved prevention, detection, and enforcement mechanisms…

EC’s 2025 State of the Digital Decade report flags key vulnerabilities in Europe’s digital ecosystem, citing reliance on foreign tech and weak cyber defences as entry points for cross-border FC and exploitation

June 16, 2025

The report also warns of increased risks from disinformation, online manipulation, and digital infrastructure dependencies that could be exploited by threat actors. To counter these gaps, the EC urges swift regulatory simplification and nearly €290 billion in strategic investment, including in secure technologies and cyber resilience, to reinforce the EU’s defences by 2030…

GFI flags illegal cattle ranching along Belize’s border as a key driver of deforestation and land laundering, calling for stronger cross-border enforcement and improved financial oversight

June 16, 2025

New report aims to highlight the link between illegal cattle ranching, deforestation, and financial crimes such as land laundering and illicit trade in the Belize-Guatemala border region…

OECD’s new manual guides jurisdictions in building strong tax crime investigations to fight global evasion, through clear laws, defined roles, enhanced cooperation, and advanced technology

June 16, 2025

It outlines essential components such as defining roles and responsibilities, establishing legal frameworks, and implementing robust case management systems. The manual also highlights the importance of inter-agency cooperation, the use of technology in investigations, and the protection of suspects’ rights. By providing practical tools and country-specific examples, the OECD aims to enhance the capacity of tax authorities worldwide to combat tax crimes effectively…

OFAC fines Unicat Catalyst Technologies $3.9M for serious Iran and Venezuela sanctions violations, underscoring self-disclosure and dual-jurisdiction compliance challenges

June 16, 2025

The case stands out due to Unicat’s voluntary self-disclosure of the breaches, which involved providing catalyst products and consulting services to Iran and selling to a blocked Venezuelan entity. This enforcement action underscores the ongoing complexities and heightened risks companies face in navigating dual-jurisdiction sanctions regimes, emphasizing the importance of robust compliance programs and proactive risk management…

FATF adds Bolivia and UK Virgin Islands to its grey list, urging risk-based vigilance over blanket de-risking as they address AML/CFT gaps under close watch

June 13, 2025

FATF calls on jurisdictions under increased monitoring to swiftly implement agreed action plans addressing strategic AML/CFT deficiencies. Countries and institutions are advised to apply a risk-based approach, avoid blanket de-risking, and ensure legitimate financial flows—especially for humanitarian and NPO activities—remain unaffected…

AMLA appoints former FATF President Juan-Manuel Vega Serrano as its new Vice-Chair, marking a decisive step towards reinforcing and unifying the EU’s fight against financial crime

June 13, 2025

With over 30 years of experience in public service and financial crime supervision, Vega Serrano has held key roles including head of Spain’s Financial Intelligence Unit and AML/CFT Supervisory Authority, and previously served as President of the Financial Action Task Force (FATF). His appointment signals AMLA’s ambition to enhance strategic oversight and harmonised enforcement across EU member states from its Frankfurt headquarters…

Europol’s 2025 IOCTA report exposes how cybercriminals exploit stolen data, AI scams, deepfakes, and identity-masking tools to drive FC and evade detection across borders

June 12, 2025

The report details how cybercriminals operate within a thriving underground economy, leveraging Initial Access Brokers, malware-as-a-service platforms, and encrypted apps to trade credentials and exploit system vulnerabilities. Despite major takedowns like Operation Endgame, threats persist through digital skimming, CVE exploitation, and hybrid actors targeting critical infrastructure. Europol calls for stronger EU-wide frameworks on encrypted access, metadata retention, and public awareness to counter increasingly sophisticated digital threats…

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