Log in/out

Our extensive knowledge at your fingertips

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.

Browse the resource database or make a sub-selection:

Menu

Latest editions

Search

U

Trump’s $5m ‘Golden Card’ plan faces scrutiny as EU closes loopholes on citizenship-for-sale

March 4, 2025

Trump’s plan to replace the EB-5 investor visa with a $5M ‘Golden Card’ residency sparks controversy as the EU intensifies its crackdown on Citizenship by Investment (CBI) schemes over ML and corruption risks. With Bulgaria & Cyprus shutting down their programmes…

EPPO’s 2024 Annual Report reveals 38% rise in active investigations, targeting €24.8B in EU fraud, with a focus on cross-border VAT fraud and NextGenerationEU funding misuse

March 3, 2025

The report shows a 38% increase in active investigations, reaching a total of 2,666 cases with an estimated damage of €24.8Bn. The rise in investigations, particularly related to cross-border VAT fraud and NextGenerationEU funding misuse, underscores the growing threat to EU financial interests, with €849M in assets frozen and 205 indictments filed…

US Treasury scraps penalties for US businesses under ownership reporting rule, shifting focus to foreign entities

March 2, 2025

Treasury will no longer enforce penalties for U.S. citizens or domestic companies under the Corporate Transparency Act’s beneficial ownership reporting rule, both under current deadlines and after forthcoming rule changes…

Electronic Payment International warns that instant payments create gaps in AML and sanctions screening – banks must adopt real-time monitoring and strengthen risk controls

March 1, 2025

As payment technologies evolve, financial institutions face mounting pressure to adapt their compliance systems to handle faster transactions, including those processed in real-time. Marshall highlights how these advancements, such as instant payments and digital currencies, present new challenges for detecting and preventing financial crimes like ML and sanctions violations…

US Treasury unites with global partners to cut off ISIS financing, strengthening efforts to disrupt funding networks and prevent new financial loopholes

February 28, 2025

The United States, Italy, and Saudi Arabia convened the 21st Counter ISIS Finance Group (CIFG) meeting, emphasising the need for global cooperation to disrupt ISIS financing. Participants discussed ISIS’s use of traditional and digital financial channels, including cash couriers, hawalas, and virtual assets.

Europol arrests 25 in global crackdown on AI-generated child abuse material, as EU weighs new laws to criminalize AI-generated CSAM and strengthen online platform accountability

February 28, 2025

Europol, in coordination with law enforcement from 19 countries, arrested 25 individuals in Operation Cumberland, one of the first cases targeting fully AI-generated child sexual abuse material (CSAM). EC is now proposing new regulations to criminalize synthetic CSAM, strengthen platform accountability, and enhance law enforcement tools as many EU Member States lack specific legislation…

FINTRAC releases new guidance and form for reporting terrorist-linked and sanctioned property

February 28, 2025

The new guidance takes effect on March 2, 2025, for property tied to individuals or entities under the United Nations Act. It extends the existing obligation for property linked to terrorist groups or listed persons under the Criminal Code. From October 1, 2025, it also applies to property connected to entities under the Special Economic Measures Act and the Justice for Victims of Corrupt Foreign Officials Act…

 

FCA secures first UK sentence for unregistered crypto activity: Olumide Osunkoya gets 4 years for operating £2.5m in illegal crypto ATM Network

February 28, 2025

Operating under the company GidiPlus Ltd, Osunkoya continued to run crypto ATMs at multiple locations despite being denied FCA registration. He was convicted of multiple charges, including forgery and possessing criminal property. The FCA continues to tackle illegal crypto ATMs nationwide…

 

FinCEN delays fines for missed beneficial ownership filings, ensuring clarity and reducing burden on businesses, until new deadlines are set

February 27, 2025

No later than March 21, 2025, FinCEN intends to issue an interim final rule that extends BOI reporting deadlines, recognizing the need to provide new guidance and clarity as quickly as possible, while ensuring that BOI that is highly useful to important national security, intelligence, and law enforcement activities is reported…

 

EBA approves the European Commission’s changes to MiCAR RTS but urges future updates to include key supervisory measures like market abuse policies and independent DLT audits

February 27, 2025

While the EBA accepts the amendments, including the deletion of certain elements and the clarification of internal governance requirements, it urges further updates to include essential supervisory measures like independent third-party audits for Distributed Ledger Technology (DLT) and a more comprehensive assessment of the management body’s suitability, especially regarding the concept of “good repute” for key personnel.

CPS convicts former Co-Op Bank director Paul Flowers, who was jailed for defrauding a vulnerable friend of £100K by misusing power of attorney and estate funds

February 27, 2025

Flowers misappropriated funds over several years using them for personal expenses including luxury items and leisure activities, even continuing the fraud after her death. The case highlights the risks of financial exploitation through power of attorney and underscores the need for stricter oversight to protect vulnerable individuals from similar abuses…

Swiss OAG imposes $1m fine on Morgan Stanley for failing to prevent laundering Greek bribery proceeds

February 27, 2025

The bank failed to detect suspicious activity and conduct adequate due diligence on source of funds deposited into accounts of a cousin of former Greek defence minister Apostolos-Athanasios Tsochatzopoulos, in 2010…

No results found.