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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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INTERPOL and the Inter-American Development Bank join forces to tackle organised crime in Latin America and the Caribbean, disrupting illicit markets and boosting regional security

April 25, 2025

The primary focus of their joint efforts will be disrupting illegal markets that fuel criminal activities across the region, including drug trafficking, human trafficking, and arms smuggling. The partnership seeks to strengthen the capacity of national law enforcement agencies, improve regional security measures, and develop coordinated strategies to fight organized crime more effectively. By promoting regional collaboration, the initiative aims…

RUSI’s STR podcast examines the growing issue of online child sexual exploitation and the crucial role financial intelligence plays in detecting, disrupting, and investigating perpetrators

April 25, 2025

Through the podcast, listeners are exposed to critical discussions on the financial dimensions of this crime, revealing how illicit transactions and financial flows are key to both perpetrating and detecting these heinous activities. Experts from around the world, including law enforcement and financial intelligence professionals, share key insights into emerging detection strategies and the financial indicators that can help disrupt these crimes…

Latvia’s 2024 FIU report reveals key AML developments and strategic priorities, focusing on sanctions centralisation and stronger customs controls amid rising financial crime threats

April 24, 2025

The report outlines key strategic priorities, with particular emphasis on the centralization of sanctions implementation functions to streamline enforcement and increase efficiency. A notable achievement was the prevention of over 8,500 shipments of sanctioned goods, reflecting enhanced controls at Latvia’s customs checkpoints. These measures were implemented to strengthen the country’s defenses against illicit financial activities…

Federal Reserve Board ends advance crypto reporting thereby withdraws oversight letters and moves toward integrated supervision of digital asset activities

April 24, 2025

The Federal Reserve Board has announced a significant shift in its approach to overseeing crypto-related activities by ending the requirement for state member banks to provide advance notice of their involvement in crypto-asset and dollar token operations. This move includes the withdrawal of key supervisory letters issued in 2022 and 2023, which previously laid out expectations for crypto activity disclosures and supervisory nonobjection…

FBI’s 2024 Internet Crime Report reveals a 33% rise in cybercrime losses to $16.6bn, with cryptocurrency fraud surging 66% to $9.3bn, driven by investment scams, extortion, and ATM fraud

April 24, 2025

The report highlights a surge in two major threats: extortion and phishing, both of which continue to target individuals and organizations across the country. In particular, Alabama has been identified as one of the states with high vulnerability to cybercrime, ranking 26th in the number of complaints filed. Seniors, especially those over the age of 60, have been the hardest hit with losses exceeding $33 million. The report also underscores…

GIABA commends Senegal’s comprehensive overhaul of its AML/CFT/FP laws, especially Act 2024-08, for effectively closing FATF technical gaps and securing multiple re-ratings of key rec.

April 23, 2025

Since its last review, Senegal has overhauled its AML/CFT/FP framework by enacting a series of laws and decrees—including the landmark Act 2024‑08—that align domestic legislation with the latest WAEMU and FATF standards…

Estonia FIU highlights a sharp rise in ML and sanctions evasion risks in 2024, driven by fraud and remote gambling, leading to €5.7m in asset seizures, tech upgrades and tighter oversight

April 23, 2025

In its annual report for 2024, Estonia’s FIU found that fraud, tax crimes, and sophisticated sanction‑evasion schemes continued to drive money laundering risks in 2024, with the expanding remote gambling sector adding new vulnerabilities. Despite strong reporting from credit institutions, gaps remain among other obliged entities and state bodies, leading to enhanced tech measures, administrative actions, and €5.7 million in seized assets…

FCA’s AI Sprint explores AI’s growing impact, urging the need for trust, clearer regulations, and tackling AI-driven scams, while expanding initiatives like the AI Lab and Supercharged sandbox 

April 23, 2025

Insights from 115 experts are driving new initiatives to strengthen AI development in financial services, including an expanded AI Lab, enhanced sandbox testing, and closer collaboration with data and privacy regulators…

UAE strengthens its global financial standing with the 2024 NRA, showcasing key AML/CFT reforms, FATF grey list exit, 3.9% GDP growth, and advances in open finance, trade, and compliance

April 23, 2025

This report underscores the country’s ongoing commitment to enhancing its financial system’s integrity and stability while aligning with international standards on anti-money laundering (AML) and combating the financing of terrorism (CFT). The assessment highlights key vulnerabilities in the UAE’s financial infrastructure, provides detailed analysis of emerging threats, and sets forth new strategies to combat illicit activities…

TRACIT’s 2025 Illicit Trade Index releases new global benchmark, urging urgent action and stronger enforcement to combat illicit trade networks across 158 countries

April 22, 2025

This Index sets a new standard for assessing the resilience of countries against illicit trade. It serves as an essential tool for governments and enforcement agencies to understand their strengths and weaknesses in tackling illicit trade networks, from counterfeiting to smuggling…

 

NCA’s UKFIU SARs exposes £10m Mini Umbrella Company fraud, highlight rising illicit finance through Hawala networks amid record Organised Immigration Crime and tracing difficulties

April 21, 2025

In its second issue of the year, the bulletin features insights from the NECC PPP team on strengthening collaboration, and UKFIU guidance on the variability of DAML SAR responses. It also explores organised immigration crime, shares SAR case studies showcasing public-private partnerships, and offers advice on handling chargeback-related DAML requests…

UK Gambling Commission urges operators to submit quarterly regulatory returns promptly via its e-portal, warning that delays could trigger tougher enforcement action

April 17, 2025

The Commission emphasizes that operators must adhere to their reporting obligations, ensuring that returns are submitted on time via the designated online portal. The warning comes after a significant update to the Licence Condition 15.3.1 in July 2024, which now mandates that all licensees submit regulatory returns on a quarterly basis instead of the previous annual schedule. The next set of quarterly returns is due by April 28, 2025…

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