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MONEYVAL Fifth Round Mutual Evaluation Report on Estonia

MONEYVAL urges Estonia to further strengthen measures to combat money laundering and the financing of terrorism, among others by reinforcing the private sector’s capacities and performance as well as improving its law enforcement efforts in this field…

 

OCCRP: What’s a Proxy? Using Relatives, Shell Companies, and Other Stand-Ins to Hide Illicit Wealth

OCCRP published a FAQ highlighting that proxies are people that form a crucial part of a sophisticated secrecy industry that undermines the global financial system by letting dirty money flow undetected, unchecked, and uninterrupted around the world…

UK Govt confirms ‘Failure to prevent Fraud’ offence to be added to new UK Economic Crime Bill

The UK Government confirms ‘Failure to prevent Fraud’ offence will be added to new UK Economic Crime Bill. The measure will aim principally at professionals such as lawyers, accountants and other intermediaries that do not have reasonable measures in place…

NCA publishes the Suspicious Activity Report (SARs) Annual Report 2022

The report shows another record set in the last financial year with 901,255 SARs received and processed – a 21% increase on the previous year. £305.7M denied to suspected criminals as a result of Defence Against Money Laundering (DAML) requests – a 120.6% increase…

Home Office announces crackdown against organised criminal gangs

The Police will adopt new ‘Clear, Hold, Build’ tactic, as Home Secretary launches Consultation on new offences to frustrate criminal enterprises. The Consultation will also look at strengthening serious crime prevention orders to make it easier for police and other law…

Fenergo Global AML Fines Research Report

The data from Fenergo showed that AML fines globally surged 53 per cent in 2022 while fines to crypto firms rose over 90 per cent as regulators cracked down on financial misconduct. The surge was linked to the huge increase in fines levied at crypto firms, as well as fines…

 

MONEYVAL Fifth Round Mutual Evaluation Report on Monaco

Moneyval encourages Monaco to “further strengthen measures to combat ML and TF, in particular when it comes to investigating and prosecuting money laundering, confiscating and recovering proceeds of crime as well as strengthening its supervisory system…

 

FATF updates consolidated assessment ratings

An up-to-date overview of the ratings on both effectiveness and technical compliance for all countries assessed against the 2012 FATF Recommendations and using the 2013 Assessment Methodology…

FinCEN issues Enforcement Order against Crypto Exchange Bitzlato in First-Time Use of Section 9714(a)

FinCEN determined that Bitzlato is a FI operating outside of the US that is of primary money laundering concern in connection with Russian illicit finance.The order prohibits certain transmittals of funds involving Bitzlato by any covered FI. Bitzlato poses a global threat by allowing…

 

Europol in Brief (Annual Review)

Europol in brief details the progress Europol and its partners have made in fighting crime over the last twelve months. It also outlines the specialised functions and systems that help Europol maintain and improve the effectiveness of its work.

How oligarchs use Brussels to launder their reputations

This scandal has focused on claims that Qatar funded an influence operation in the European parliament which resulted in the arrest and imprisonment of MEPs and a former vice-president. Over €1.5 million in cash has since been discovered stashed away in flats…

GRECO 5th Evaluation Round Compliance Report on Norway

GRECO recommended that dedicated training on ethics, conflicts of interest and corruption prevention is to be systematically provided to persons entrusted with top executive functions at the start of their term and on a regular basis throughout their term of office…