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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 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…

EC removes the UAE from its high-risk money ML list, while simultaneously adding 10 jurisdictions including Monaco, Lebanon, Kenya, and Venezuela – raising the total to 27 high-risk countries

June 10, 2025

The European Commission has added Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela to its list of high-risk third-country jurisdictions with strategic deficiencies in their AML/CFT regimes. Conversely, Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates have been removed from the list following progress in addressing their identified shortcomings…

FCA issues updated Enforcement Guide (ENFG), effective 3 June 2025 for all new investigations, aiming to improve access to key information, boost transparency, efficiency, and regulatory clarity

June 9, 2025

Notable updates include a U-turn on publicity policy, dropping plans to name firms under investigation unless in exceptional or specified cases (e.g., unauthorised activity). It clarifies when lawyers may attend compelled interviews, limiting joint representation to avoid conflicts. The FCA also formalises its stance on accepting firm-commissioned reports under limited privilege waivers…

EU adopts an enhanced cyber crisis management blueprint to boost preparedness, detection capabilities, and drive cross-border action against large-scale complex cyber threats

June 6, 2025

Aligned with the NIS2 Directive and the Cyber Solidarity Act, the blueprint introduces a clear five-phase crisis lifecycle—detection, analysis, escalation, response, and recovery—while defining roles for key entities like ENISA, the CSIRTs Network, and EU-CyCLONe. It reinforces EU-wide cooperation, enhances threat detection, and ensures swift operational and political coordination across borders. With a focus on civil-military collaboration, public communication, and continuous improvement through a rolling annex, the blueprint marks a significant step…

Europol busts major cocaine ring in Spain’s Canary Islands – seizing 4 tons, arresting 50, and exposing cross-border ML schemes in a wake-up call for stronger FC enforcement

June 6, 2025

The investigation uncovered the use of hidden maritime routes and covert storage hubs to traffic large volumes of cocaine, with criminal proceeds likely funneled through a network of illicit financial channels across multiple EU countries. Europol’s coordination played a key role by facilitating cross-border intelligence sharing, improving both the efficiency and timing of enforcement actions…

INTERPOL-led global crackdown on child sexual abuse material uncovers transnational financial crime links, resulting in 20 arrests and 68 suspects identified across 12 countries

June 6, 2025

The coordinated effort, spanning 12 countries across Europe and the Americas, has resulted in the arrest of 20 suspects, including professionals such as a healthcare worker and a teacher involved in exploitation activities. Beyond these arrests, authorities have identified 68 additional suspects, with investigations ongoing to further dismantle the complex criminal networks involved. The operation highlights the critical role of cross-border…

EU sets out its International Digital Strategy to strengthen global ties, advance AI and cybersecurity, and bolster digital finance systems against illicit flows and cross-border FC

June 5, 2025

The European Commission and High Representative have unveiled the EU’s new International Digital Strategy, aiming to boost global digital partnerships, drive secure tech development, and promote a rules-based digital order aligned with EU values. Key priorities include AI, secure infrastructure, cybersecurity, and digital governance, with immediate steps toward implementation…

US DoJ seeks to recover $7.74M laundered for North Korea via stolen identities, fake remote IT jobs, and cryptocurrency transactions to evade sanctions and fund illicit operations

June 5, 2025

The investigation revealed that these North Korean IT operatives used stolen identities to secure remote jobs at various companies worldwide, including blockchain development firms, allowing them to generate illicit cryptocurrency revenues for the North Korean government. To launder the funds, they employed advanced techniques such as structuring transactions into small amounts, chain hopping between blockchains, token swapping…

BoE and London BIS’s Project Hertha tested AI to detect FC in real-time retail payments, boosting illicit pattern detection by 26% and account identification by 12%, while revealing key limitations

June 5, 2025

The project focused on identifying illicit finance patterns in real-time retail payment systems through advanced transaction analytics. Notably, it achieved a 26% improvement in detecting previously unseen criminal behaviours and a 12% increase in the identification of illicit accounts compared to conventional methods. These findings suggest that AI-driven analytics could serve as a powerful supplementary tool for banks and payment…

US Govt seizes 145 darknet and web domains, along with crypto funds linked to BidenCash – a marketplace that trafficked 15M+ stolen cards, served 117K users, and made $17M in illicit gains

June 4, 2025

Between Oct 2022 and Feb 2023, BidenCash released 3.3 million stolen card records for free as a tactic to attract more users. The leaked data included full card details, names, email addresses, phone numbers, and physical addresses. Following the seizure, the marketplace’s domains have been redirected to law enforcement-controlled servers to prevent further criminal activity…

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