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

MONEYVAL reports that Monaco has strengthened its measures to combat ML/TF, achieving ‘large compliance’ with 32 and ‘full compliance’ with 7 of the 40 FATF

December 10, 2024

The positive actions taken by the authorities have improved Monaco’s compliance with the  FATF’s Rec. 4 (Confiscation and provisional measures), 6 (Targeted financial sanctions related to terrorism and terrorist financing), 7 (Targeted financial sanctions related to proliferation), 8 (Non-profit organisations), 12 (Politically exposed persons), 23 (Measures related to designated non-financial businesses and professions), 24 (Transparency and beneficial ownership of legal persons)…

Europol’s Bonus Episode, marking the Agency’s 25th anniversary, covers 1999 to the present, highlighting major cases and the Agency’s evolution into a central criminal intelligence hub

December 9, 2024
Jürgen Storbeck, Max-Peter Ratzel, Sir Rob Wainwright and Executive Director Catherine De Bolle, discuss the biggest cases of their time, and how Europol became the nerve centre of criminal intelligence that it is today…

 

MONEYVAL concludes that Croatia has strengthened its measures for tackling money laundering and combating financing of terrorism

December 9, 2024

The report found Croatia to have improved its compliance with the Financial Action Task Force’s Recommendations 1 (Assessing risks and applying a risk-based approach), 2 (National cooperation and coordination), 6 (Targeted financial sanctions related to terrorism and terrorist financing), 7 (Targeted financial sanctions related to proliferation), 15 (New Technologies), 18 (Internal controls and foreign branches and subsidiaries), 33 (Statistics), 35 (Sanctions) and 36 (International instruments)

 

 

EPPO Germany carries out searches at bank in €200m VAT fraud probe, involving a company MD accused of creating a fictitious business identity for processing transactions

December 9, 2024

The suspect received bank transfers totalling over €200 million from 127 different companies in Italy and Slovakia to his accounts in Germany between 2016 and 2022. The money is understood to have originated primarily from a VAT carousel fraud – a complex criminal scheme that takes advantage of EU rules on cross-border transactions between its Member States, as these are exempt from value-added tax…

 

 

Belgian and Dutch authorities, supported by Eurojust and Europol, dismantled an international ‘phone phishing’ gang that targeted elderly victims, scamming millions of euros

December 9, 2024

Most of the fraudulent activities took place in Belgium, but the organised crime group (OCG) behind the scam operated mainly from Rotterdam and other cities in the Netherlands. This week’s arrests have led to the apprehension of the alleged leaders of the OCG, though the investigations into the fraud continue. The fraudsters allegedly scammed victims out of at least several million euros. ..

OCCRP reports that assets worth nearly $2.03bn have been surrendered in Singapore’s largest money laundering case

December 8, 2024

The money laundering case, involving more than S$3 billion (US$2.23 billion), surfaced in August 2023 when 10 foreign nationals were arrested in multiple raids. More than 400 police officers carried out islandwide operations, arresting nine men and one woman linked to organized crime, including scams and online gambling…

 

INTERPOL Operation Claymore targets illicit trade of explosive materials, also linked to illegal mining in South America, seizing over 28,000kg of explosives and 3,400 Improvised Explosive Devices (IEDs)

December 8, 2024

It highlighted the strong links between illegal explosives trade and organized crime in South America, with IEDs used for terrorism, violence, and criminal activity. The operation resulted in 45 arrests and ongoing investigations…

GI-TOC report highlights how FIs in the Balkans are exploited for ML and illicit financial flows, revealing regulatory gaps and systemic vulnerabilities

December 8, 2024

The report highlights structural weaknesses in the Western Balkans that enable money laundering. Key issues include regulatory gaps in cryptocurrency, which allow anonymous, cross-border transactions, and financial technology, which introduces new risks due to lagging compliance frameworks. Additionally, the absence of centralized registries for PEPs and beneficial owners leaves financial institutions without vital information, inadvertently aiding criminal activities…

 

Kroll’s Global Regulatory Pulse Report for Q4 underscores the dynamic and evolving landscape of financial compliance regulation across major jurisdictions

December 7, 2024

From the emphasis on accountability and transparency in Singapore and Hong Kong to the strategic focus on sustainable finance and technological innovation in the European Union, regulatory bodies are actively shaping the future of financial markets. In the Middle East, initiatives like Project Aperta and the Open Finance Regulation underscore the UAE’s commitment to enhancing financial interoperability and competitiveness. Meanwhile, the United Kingdom’s FCA is fostering a more inclusive and transparent private market environment, and the United States continues to advance priorities, implement new rules, and enforce actions due to upcoming SEC changes…

 

MONEYVAL summarises outcomes of 68th Plenary meeting

December 6, 2024

Key topics discussed included adoption of the analysis on the voluntary tax compliance (VTC) programme introduced by Georgia, and approval of the Supranationality project, which analysed how EU supra-national legislation and mechanisms were considered and weighted during the 5th round of evaluations. MONEYVAL provided information and guidance regarding the 6th round of evaluations, including information on sequencing, data collection, training and the revised FATF Methodology.

AUSTRAC cracks down on non-compliant crypto ATM providers with taskforce to enforce AML/CTF compliance and combat ML risks

December 6, 2024

AUSTRAC has launched a cryptocurrency taskforce to ensure compliance among digital currency exchanges providing crypto ATM services, citing their vulnerability to money laundering, scams, and money mule activities.

European Parliament endorses Bruna Szego as AMLA’s Head: A landmark achievement for Italy and the EU in combating financial crime

December 2, 2024

AMLA’s new chief Bruna Szego pledges innovation, transparency and coordination in the fight against financial crime. Szego founded and leads the AML supervision and regulation unit at the Bank of Italy, having previously headed its regulation and macroprudential analysis directorate. She sits on the EBA’s AML standing committee. AMLA should begin its work in the first half of 2025…

No results found.