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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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EBA’s final report on AML/CFT colleges shows growing maturity and effectiveness in cross-border supervisory cooperation, with improved information-sharing though gaps remain in risk-based coordination

October 22, 2025

In its fifth and final report on the functioning of AML/CFT colleges, the EBA concludes that these permanent structures facilitated enhanced supervisory cooperation and information-sharing among competent authorities within the EU. However, the report also notes that many colleges have not yet fulfilled the objective of delivering coordinated responses to cross-entity anti-money-laundering and counter-financing-terrorism (AML/CFT) risks, especially in applying risk-based approaches and discussing common actions…

Swiss Federal Council issues consultation to revise the Financial Institutions Act to tighten oversight of stablecoins and crypto-assets while supporting innovation – feedback by 6 Feb 26 

October 22, 2025

The Swiss Federal Council has opened a public consultation lasting until 6 February 2026 on amendments to the Financial Institutions Act aimed at enhancing Switzerland’s framework for stablecoins and other crypto-assets. The proposed changes seek to strengthen the attractiveness of the Swiss financial centre and the integration of innovative financial technologies, while also mitigating risks to financial stability, integrity and consumer protection…

INTERPOL and AFRIPOL’s Operation Catalyst across 6 African nations results in 83 arrests, 160 persons of interest, and uncovers $260M in virtual currencies linked to terrorism, fraud, and cybercrime

October 22, 2025

The operation uncovered approximately USD 260 million in fiat and virtual currencies potentially linked to terrorism-related activities, with about USD 600,000 seized. Arrests included individuals involved in terrorism, financial fraud, cyber-enabled scams, and illicit use of virtual assets. The operation highlighted the complex interplay between various criminal activities and underscored the importance of coordinated international efforts to combat terrorism financing…

UK Govt appoints the FCA as the single AML/CTF supervisor for professional services, bringing around 60K firms – including lawyers, accountants, and TCSPs under one unified regulator

October 21, 2025

The report outlines the UK government’s response to its 2024 consultation on AML supervision reform, confirming that the FCA will become the single public supervisor for professional services firms. This reform, shaped by consultation feedback, aims to streamline oversight, strengthen risk-based supervision, and improve coordination with law enforcement, addressing previous gaps in the UK’s AML framework…

INTERPOL adds 9 priceless jewels stolen from the Louvre Museum, including 19th-century royal treasures, in its Stolen Works of Art database and issues urgent alerts

October 21, 2025

Four suspects used a mechanical ladder to access the Galerie d’Apollon, cut through display cases, and fled with the items. A crown once belonging to Empress Eugénie of France was recovered at the scene, seemingly dropped by the intruders. Eight other items remain missing. The stolen jewels have been added to INTERPOL’s Stolen Works of Art database, which combines descriptions and pictures of more than 57,000 items from around the world. INTERPOL has also published a special edition poster alerting its membership of the theft…

U.S. Senators introduce the ‘Streamline Act’ to modernise the BSA, proposing to raise CTR thresholds from $10K to $30K and adjusting STR thresholds from $2K–$5K to $3K–$10K

October 21, 2025

The bill, marking the first major change since 1970, also proposes reviewing reporting forms to reduce redundancy and improve automation. Supporters, including major banking groups, argue the reforms will cut unnecessary paperwork, allow banks to focus on meaningful anti-money laundering efforts, provide law enforcement with more targeted data, and enhance consumer privacy…

FCA’s survey on Financial Crime Controls in Corporate Finance firms exposes major AML gaps, with two-thirds failing key standards and urging stronger risk assessment, due diligence, and oversight

October 20, 2025

The FCA’s review reveals that a notable proportion of corporate finance firms fail to maintain comprehensive business-wide risk assessments or adequately monitor their appointed representatives. Strengthening these controls is essential to ensuring compliance with the Money Laundering Regulations and reducing the sector’s vulnerability to money laundering, fraud, and other financial crimes…

G20/OECD Report on Blended Finance De-risking Measures warns that weak governance and opaque guarantee structures can turn blended-finance projects into targets for corruption, ML, and fraud

October 17, 2025

The report underscores that effective de-risking depends on transparent structures, coherent regulations, and well-governed financial ecosystems capable of attracting sustainable private investment. These measures, while aimed at mobilising capital, also strengthen safeguards against illicit finance by promoting clearer disclosure, traceability, and accountability across blended-finance operations…

UK AAT’s 2024–25 AML Annual Report reveals major compliance gaps among accountancy firms and rising crypto and AI-fraud risks, urging stronger governance to combat evolving FC

October 17, 2025

The report provides a detailed overview of AAT’s monitoring activity during the year, including practice-assurance reviews, identified deficiencies, enforcement actions and monetary fines imposed on members who fail to meet AML obligations. It further outlines the supervisory approach, emerging threats and highlights resources and guidance made available by AAT to help members fulfil their obligations under the UK’s Money Laundering Regulations…

AUSTRAC releases guidance for current and new reporting entities on AML/CTF reforms, effective 1 July 2026 – extending obligations to real estate, accounting, legal, and precious metals sectors

October 17, 2025

The guidance emphasizes a risk-based approach to AML/CTF programs, enhanced customer due diligence, and mandatory reporting of suspicious transactions to combat money laundering and terrorism financing. AUSTRAC aims to address evolving criminal tactics and support newly regulated sectors with resources and sector-specific guidance to strengthen financial crime prevention…

GAFILAT’s compliance report upgrades Bolivia for stronger proliferation sanctions, BO rules, and AML/CFT enforcement, leaving no non-compliant areas and only six partially compliant

October 16, 2025

Latest follow-up report notes significant enhancements to Bolivia’s legal and institutional framework, particularly through new regulations on targeted financial sanctions, beneficial ownership disclosure, and sanctions enforcement across reporting sectors. It also observes that while technical compliance has improved, further progress is needed to strengthen effectiveness, notably in non-profit oversight and individual accountability for ownership transparency…

ESMA’s 2025 Annual Sanctions Report reveals that EU authorities issued over 970 administrative sanctions and measures in 2024, totaling more than €100M in fines – mostly under MAR and MiFID II

October 16, 2025

Around 60% of actions involved fines and 10% were settlements exceeding €20 million. The report highlights significant variations in enforcement approaches across Member States, underscoring the need for greater supervisory consistency. ESMA emphasises that while sanctions alone do not determine supervisory effectiveness, increased transparency and data sharing are key to achieving more harmonised enforcement across the EU…

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