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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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FinCEN proposes a rule to fundamentally reform AML/CFT programs under the Bank Secrecy Act, shifting from “check-the-box” compliance to risk-based, effectiveness-focused outcomes

April 7, 2026

Reforms introduce clearer distinctions between programme design and implementation, reinforces financial institutions’ responsibility to assess and manage their own risks, and embeds AML/CFT priorities into compliance expectations. It also strengthens FinCEN’s coordinating role in supervisory actions and aligns regulatory requirements with the Anti-Money Laundering Act of 2020 to improve consistency and outcomes across institutions…

HKA ‘From Tick Box to Tactical Advantage’ article examines how outdated FC risk assessments can leave firms exposed, reinforcing regulators expectations for forward-looking, risk-based frameworks

April 7, 2026

The article highlights key failures such as tick-box approaches, lack of data, poor methodology, weak governance, and limited coverage of evolving risks and stresses that risk assessments must become dynamic tools that actively guide decision-making. Ultimately, firms that embed scenario analysis, continuous updates, and strong governance can transform risk assessments from a compliance exercise into a strategic advantage…

Cube3AI report reveals that cross-border mule networks, with over 60% of accounts unflagged and 94–96% of scams shifting to Telegram, are enabling large-scale fraud to go undetected

April 7, 2026

Scams often start on mainstream platforms before rapidly shifting to Telegram, where payment instructions and mule account details are exchanged at scale. Many of these accounts appear entirely legitimate—some years old—yet over 60% remain unflagged while quietly processing hundreds of transactions over extended periods. What looks like routine activity in isolation reveals organised, large-scale fraud when connected across institutions. The report makes clear that this is not just a detection gap, but a systemic blind spot, enabling vast…

HM Treasury publishes draft MLR 2026, marking a major evolution in the AML/CTF framework through tighter CDD, expanded crypto oversight, and stronger coordination to drive outcomes-led enforcement

April 6, 2026

The reforms strengthen the AML/CTF framework by tightening risk-based CDD and EDD triggers particularly for unusually large or complex transactions and pooled accounts while expanding oversight of cryptoasset businesses, broadening trust registration requirements, updating high-risk jurisdiction definitions in line with FATF “call for action” countries, enhancing supervisory coordination and information-sharing, and bringing off-the-shelf company sales into scope to drive more effective, outcomes…

MONEYVAL’s Mutual Evaluation Report on Serbia highlights a strong AML/CFT framework, while urging more consistent investigations, prosecutions and supervision to close remaining gaps

April 2, 2026

The report recognises improvements in Serbia’s legal and institutional framework, including better alignment with FATF standards, but concludes that implementation is uneven and that authorities do not yet address money-laundering and terrorist-financing risks in a fully systematic and consistent manner. It highlights key deficiencies such as limited financial-intelligence use, insufficient money-laundering investigations and asset confiscation, and weaknesses in risk-based supervision of non-financial sectors, recommending stronger…

NCA’s ‘Online Safety Act’ Guidance explains how the Act strengthens reporting of online child sexual exploitation and abuse by requiring platforms to share intelligence with law enforcement

April 2, 2026

It highlights the NCA’s central role in receiving, triaging, analysing, and disseminating reports from tech companies through a dedicated reporting system, ensuring that actionable intelligence is passed to UK and international law enforcement agencies. The document also clarifies reporting obligations for both UK and overseas platforms, alongside compliance expectations and safeguards to ensure timely and accurate reporting…

AUSTRAC finalises AML/CTF transitional and amendment rules, setting clear timelines for CDD, travel rule for payment transparency, and VASP obligations to help businesses strengthen ML/TF controls

April 2, 2026

Key timelines include a 3-year transition period for CDD, deadlines to update compliance officer details, and deferred requirements for virtual asset services until 1 July 2026. The changes also include technical amendments to simplify compliance, enhance beneficial ownership transparency, and streamline reporting group structures, all aimed at building a more risk-based, modern AML framework aligned with global standards…

Hawk’s article underscores model governance as the key barrier to scaling AI in Anti-Financial Crime, with firms struggling with data quality, explainability, and lifecycle management

April 2, 2026

The article emphasises that although organisations are increasingly able to build AI models, many lack the structured governance frameworks, skilled resources, and standardised controls needed to operationalise them effectively, especially under rising regulatory expectations for transparency, explainability, and auditability, ultimately reinforcing that without mature model governance, AI risks remaining confined to pilots rather than delivering sustained, scalable impact across financial crime compliance functions…

TI’s Enabler Accountability for Illicit Financial Flows report reveals weak oversight and enforcement in Africa, enabling professional enablers to facilitate illicit finance with minimal consequences

March 31, 2026

The report highlights that both criminal and administrative responses are inconsistently applied, with investigations often discontinued and penalties too low to deter misconduct. It also underscores structural gaps in anti-money laundering coverage and supervision, particularly where certain professions fall outside regulatory frameworks, limiting authorities’ ability to hold enablers to account…

AUSTRAC opens enrolment for newly regulated ‘tranche 2’ professions, marking a key step in expanding the AML/CTF regime, with enrolment from 31 March 2026 and full compliance required by 1 July 2026

March 31, 2026

The reforms will expand AUSTRAC’s oversight from 19,000 to nearly 100,000 businesses, marking the most significant overhaul in over 20 years and aiming to close long-standing gaps exploited by criminals, particularly in financial and property transactions. Newly covered businesses will be required to implement AML/CTF programs, customer due diligence, suspicious matter reporting, and record-keeping, while existing entities must provide enhanced…

HM Treasury introduces targeted reforms to the UK’s money laundering regulations to improve effectiveness, close loopholes and deliver a more proportionate, risk-based regime

March 30, 2026

The reforms amend the Money Laundering Regulations 2017 to address weaknesses identified through consultation, including issues relating to customer due diligence, cryptoasset regulation, trust registration and supervisory coordination. According to HM Treasury, the measures are designed to strengthen the UK’s anti-money laundering and counter-terrorist financing framework while reducing unnecessary compliance burdens and improving proportionality for firms.

FinCEN announces a targeted enforcement initiative to disrupt Govt healthcare-related fraud schemes, using intelligence-led analysis to detect and stop ML networks abusing U.S. public benefit systems

March 30, 2026

The initiative focuses on identifying and combating networks involved in healthcare-related fraud, money laundering, and misuse of public benefit programs, using enhanced data analysis, inter-agency coordination, and enforcement actions to trace illicit flows and hold perpetrators accountable. It reflects FinCEN’s growing emphasis on data-driven, intelligence-led financial crime enforcement to safeguard the integrity of the financial system and public resources…

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