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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 Complex PF and Sanctions Evasion Schemes report exposes major gaps in tackling WMD financing, revealing evolving evasion tactics such as hidden BO, intermediaries, and maritime misuse

June 20, 2025

The report calls for stronger international cooperation, improved information sharing between public and private sectors, and unified definitions and assessments to better detect and disrupt these illicit networks. It also recommends ongoing reviews to identify best practices and enhance the global response to proliferation risks…

NCA UKFIU’s June 2025 SARs in Action highlights a modernised SARs regime handling 460K+ reports yearly, targeting crypto, green crime, and tech threats with improved tools and global collaboration

June 20, 2025

The edition introduces the SARs Digital Transformation Programme, designed to modernise the reporting system and enhance the quality of submissions through focused engagement with the private sector. It features real-life case studies demonstrating the operational value of SARs in uncovering crypto-related fraud, sanctions evasion, and trade-based money laundering, while updated guidance and typologies aim to equip reporters with the tools to identify and respond to emerging financial crime threats…

AUSTRAC’s 2nd AML/CTF consultation proposes adding targeted sanctions screening, requiring firms to adopt strong policies to prevent breaches and enforce asset freezes

June 20, 2025

By integrating sanctions compliance directly into AML/CTF obligations, these rules ensure a more cohesive approach to financial crime prevention. This not only helps close gaps where sanctioned parties might exploit weaknesses in existing controls but also reinforces AUSTRAC’s role in supervising and enforcing compliance. Ultimately, this shift supports Australia’s broader efforts to maintain the integrity of its financial system…

CPS orders former boss of a London FX firm to repay £64M or serve 14 more years in prison for orchestrating a high-stakes investment scam involving fraud, ML, and fraudulent trading

June 20, 2025

The scam defrauded hundreds of victims out of nearly £70 million, while funds were misused for personal luxury and company branding. The confiscation order is part of the CPS’s broader effort—having recovered £478 million in criminal proceeds over five years—to ensure fraudsters face justice and victims receive compensation…

HK SFC suspends Responsible Officer due to significant supervisory lapses, including inadequate oversight of client trading systems and failure to effectively monitor suspicious activities

June 19, 2025

This action highlights the regulator’s intensified focus on holding senior management accountable for overseeing emerging risks associated with client-supplied trading technologies. The case underscores the growing importance regulators place on robust controls within electronic trading environments to prevent market abuse and financial crime. It sends a clear message that lapses in governance and risk management…

CBUAE signs MoU with China’s CIPS to modernise payments, boost cross-border cooperation, accelerate transactions, and reduce fraud, sanctions breaches, and illicit finance risks

June 19, 2025

This move aims to strengthen financial ties between the UAE and China and facilitate smoother, more cost-effective payments. However, as the volume and complexity of RMB transactions grow, so do the challenges associated with monitoring and preventing financial crimes such as money laundering and fraud. The evolving regulatory landscape and the inherently cross-border nature of these transactions increase risks and demand…

EU countries agree on new payment rules to combat fraud, foster innovation, protect consumers, and enhance fee transparency across the bloc

June 18, 2025

The Council has adopted its position on new EU payment rules aimed at strengthening fraud prevention, enhancing consumer protection, and increasing transparency of fees and exchange rates. The proposals also modernise the regulatory framework by supporting innovation in payment services, improving access to account data, and ensuring alignment with EU data protection standards…

FATF’s revised R.16 clarifies roles, standardises data for transfers above USD/EUR 1,000, and requires technology to detect fraud and errors in cross-border payments

June 18, 2025

The FATF has amended Recommendation 16 to clarify responsibilities across the payment chain, standardise required payer and payee information for cross-border transfers over USD/EUR 1,000, and mandate tools to prevent fraud and error. These changes aim to enhance transparency, improve payment accuracy, and support global efforts to combat financial crime while aligning with the G20 roadmap for more efficient cross-border payments…

MONEYVAL reports that Cyprus has strengthened its AML/CFT compliance, upgrading its rating on correspondent banking while keeping it under enhanced follow-up due to ongoing NPO sector gaps

June 18, 2025

Cyprus has addressed technical deficiencies in its framework for correspondent banking, leading to an upgraded compliance rating under FATF Recommendation 13. However, moderate shortcomings in the oversight of non-profit organisations persist, requiring further action as Cyprus remains under enhanced follow-up…

FinCEN’s 62nd BSAAG plenary unveiled its FY2024 review and a bold plan to modernise the BSA, focusing on risk-based compliance, streamlined SAR/CTR reporting, and smarter regulation to tackle FC

June 18, 2025

The Plenary united public and private stakeholders to drive AML/CFT modernization, unveiling its FY2024 “Year in Review” report showcasing BSA data’s role in combating illicit finance, reaffirming its focus on beneficial ownership transparency under the AML Act of 2020, and emphasizing risk-based compliance, streamlined reporting, and enhanced cross-sector collaboration…

EC reaffirms the EU’s anti-corruption drive at the June 2025 UNCAC Prevention WG, unveiling bold reforms targeting organised crime, whistle-blower protection, BO, and corporate integrity

June 18, 2025

Representing the EU and aligned countries, the EC highlighted recent legislative and strategic efforts, including the Rule of Law Reports, a forthcoming EU anti-corruption strategy, and enhanced frameworks tackling organised crime and corruption links. Key initiatives addressed include beneficial ownership transparency, whistleblower protection, integrity in public procurement, and private-sector accountability—each aligned with relevant UNCAC resolutions. The EU also stressed the importance of international cooperation through projects like CRIMJUST and called for continued global implementation of anti-corruption measures…

EP adopts tougher rules against child sexual abuse, targeting deepfakes, AI-generated content, and live-streamed crimes by broadening offences, increasing penalties, and removing reporting time limits

June 17, 2025

The European Parliament has adopted a strong position on updating EU child sexual abuse (CSA) laws, calling for tougher penalties, abolishing limitation periods, and expanding the legal scope to include AI-generated deepfakes and livestreamed abuse. The proposed directive aims to modernise CSA legislation, strengthen victim support, and enable more effective investigations, with trilogue negotiations set to begin on 23 June…

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