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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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NCA launches a campaign to combat financially motivated sextortion, a growing online blackmail targeting teenage boys, aiming to raise awareness and empower victims to report

March 20, 2025

Organised crime groups, mainly from West Africa and Southeast Asia, exploit victims for quick financial gain, sometimes blackmailing them within an hour of contact. Research shows most teenage boys lack awareness of sextortion tactics and reporting mechanisms. The campaign, running on social media, aims to educate boys aged 15-17 and provide guidance for parents…

GII assesses Ghana’s progress in BO transparency, noting legal advances but highlighting challenges like limited public access, inconsistent definitions, and enforcement gaps

March 20, 2025

Illicit financial flows drain Africa’s resources, undermining public services and economic growth. Ghana is tackling this through beneficial ownership transparency, with key legal reforms in place, but challenges in access, enforcement, and consistency remain…

MENAFATF praises Egypt for key AML/CFT advancements, such as expanding DNFBP definitions, tackling virtual asset risks, and implementing a system to identify unlicensed MVTS

March 20, 2025

Egypt has made significant progress in meeting FATF recommendations, achieving “Compliant” ratings for Recommendations 23 and 14, and “Largely Compliant” ratings for Recommendations 22 and 15, addressing key AML/CFT requirements but facing some gaps in supervision and international cooperation…

 

 

 

MEPs approve the appointment of 5 candidates for the AMLA Executive Board, advancing appointments of experts from Lithuania, Denmark, Germany, Ireland, and Spain

March 20, 2025

The European Parliament’s Civil Liberties and Economic Affairs Committees have approved Bruna Szego, Marcus Pleyer, Simonas Krėpšta, Derville Rowland, and Jan Reinder De Carpentier. Their appointments now await formal endorsement by the EP President, group leaders, and the Council of the EU, expected to pass..

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…

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