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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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Europol supports Spain in dismantling a migrant smuggling ring from Algeria to the EU, exposing a Hawala laundering network and seizing €1M in assets, boats, weapons, and cash

August 27, 2025

Their operations relied on significant financial and logistical resources, misusing legitimate businesses such as maritime trading companies, to procure the means of transport for the smuggling activities. Hawaladars were also used to move criminal funds. The migrant smuggling network was highly structured, with separate branches responsible for different tasks and members playing…

NCA UKFIU’s SARs in Action (Aug 2025) sheds light on how Organised Immigration Crime exploits hawala networks, offering valuable typologies to spot illicit transactions

August 27, 2025

UK authorities are intensifying efforts against Organised Immigration Crime (OIC), which exploits informal value transfer systems and sophisticated smuggling networks across Europe. Between 2019 and 2024, UKFIU recorded over 15,000 OIC-related SARs, with banks and money service businesses reporting the majority. NCA’s Op SHEETFUL exposed a UK-based OCG linked to the Kurdish Region of Iraq…

INTERPOL’s Operation Serengeti 2.0 dismantles 11,432 cybercrime and fraud networks across 18 African countries, arresting 1,209 offenders and recovering $97.4M in illicit funds

August 22, 2025

Operation Serengeti 2.0, conducted from June to August 2025, targeted high-impact cybercrimes such as ransomware, online scams, and business email compromise (BEC), which were identified as prominent threats in the recent INTERPOL Africa Cyberthreat Assessment Report. The operation also led to the dismantling of 25 cryptocurrency mining centers in Angola, the confiscation of 45 illicit power stations…

FINTRAC releases its 2025 NRA, highlighting Canada’s key ML/TF risks and guiding businesses to integrate these insights into their risk-based compliance programs

August 22, 2025

This comprehensive analysis identifies and evaluates the most significant risks facing Canada, providing businesses with insights to inform their compliance programs. FINTRAC expects businesses to integrate this assessment into their risk-based approach, using it to identify and mitigate threats and vulnerabilities specific to their operations. The assessment is regularly updated to reflect the evolving landscape of financial crime…

Europol leads a global crackdown seizing nearly €66M in counterfeit currency across 18 countries, uncovering 1M fake notes and triggering 102 new investigations into fraud networks

August 20, 2025

The investigation, conducted from October 2024 to March 2025 across 18 countries, led to the seizure of more than 990,000 counterfeit items, including “movie money” notes, and triggered 102 new investigations into criminal networks, with a particularly notable seizure of USD 600,000 in fake banknotes in Romania…

Companies House confirms mandatory ID verification for company directors and PSCs from 18 Nov 2025 – aiming to tighten corporate transparency and crack down on fraud

August 18, 2025

The rollout, phased over 12 months, will affect an estimated 6–7 million individuals, with new directors required to verify their identity upon appointment and existing directors and PSCs completing verification in line with their next confirmation statement or appointed-day requirements. Verification can be completed quickly online via GOV.UK One Login or through…

U.S Treasury requests for comments on using AI, APIs, blockchain, and digital identity tools to help FIs detect illicit activity in stablecoins and digital assets under the GENIUS Act – by 17 Oct 2025

August 18, 2025

Treasury asks commenters about application program interfaces, artificial intelligence, digital identity verification, and use of blockchain technology and monitoring. Innovative tools are critical to advancing efforts to address illicit finance risks but can also present new resource burdens for financial institutions.  As required by the GENIUS Act, Treasury will use public comments to inform research on the effectiveness, costs, privacy and cybersecurity risks, and other considerations related to these tools…

EBA’s report on AML/CFT SupTech identifies these tools as key drivers for advancing supervision, enhancing efficiency and data analysis while emphasising robust governance

August 18, 2025

The report stresses the need for a digital-first culture, robust change management, interoperability, and privacy safeguards, along with continuous evaluation of performance. Cross-border and domestic collaboration is crucial to ensure SupTech tools are effective, secure, and compliant, helping regulators tackle financial crime more efficiently…

FCA’s Cyber Coordination Group publishes insights highlighting how legacy systems, third-party dependencies, and emerging AI vulnerabilities continue to pose significant cyber risks to firms

August 15, 2025

The report, drawing on insights from 139 participating firms, highlights systemic challenges in reconnection protocols and third-party incident management, underscores the value of threat-led penetration testing and coordinated responses, and flags emergent exposures tied to AI and quantum technologies FCA. These findings signal how such weaknesses—especially in digital infrastructure and supplier ecosystems…

HKMA warns of a fraudulent app posing as Bank of Singapore, using phishing and fake logins to steal data and enable unauthorized transactions

August 14, 2025

The alert underscores the increasing sophistication of cybercriminals who are deploying fake apps and phishing attempts to capture sensitive customer information, including login credentials and one-time passwords. HKMA reminded the public that legitimate banks will never request such information via SMS, email, or embedded links, and emphasized adherence to established security protocols to mitigate risk…

Europol’s ‘From Instigator to Perpetrator’ report exposes how “violence‑as‑a‑service” uses digital platforms to outsource attacks, exploiting minors while protecting masterminds

August 14, 2025

Europol’s investigative analysis, supported by its Operational Taskforce OTF GRIMM, reveals a four-stage violent chain—instigator, recruiter, enabler, and perpetrator—often involving minors recruited through encrypted social media platforms, gamified tasks, and coded messaging to execute assaults, extortion, or murders at a distance from criminal masterminds…

 

RUSI warns UK money mule activity threatens national security, with a 23% rise in 2024, 227K accounts closed by the FCA, and fraud via social media now driving 45% of all crime

August 14, 2025

Fintechs and Banking-as-a-Service platforms were identified as especially vulnerable, with BaaS providers accounting for 10% of tracked transfers. Despite these risks, fraud database filings fell 17%, reflecting reporting changes, even as regulators and banks intensify collaboration with tech firms and law enforcement to disrupt this fast-moving threat…

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