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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’s latest podcast explores how criminal networks exploit financial loopholes and corruption to destabilise the EU, calling for urgent action on coordination, data sharing, and cybercrime vigilance

May 21, 2025

Serious and organised crime is not just a threat to public safety; it impacts the very foundations of the EU and its society. It has a double destabilising effect on the EU. It undermines the EU’s economy, rule of law and society by generating illicit proceeds, spreading violence, and normalising corruption…

World Bank’s 2nd Symposium report highlights rising corruption risks in climate finance—fraud, greenwashing, and fund misallocation due to complexity, fragmentation, and weak governance

May 21, 2025

The symposium emphasized the critical role of supranational actors—intergovernmental organizations, international aid agencies, and private donors—in mitigating integrity risks and ensuring accountability in climate finance. Key recommendations include enhancing transparency, fostering coordinated anti-corruption efforts, and increasing civil society involvement to safeguard climate funds and ensure their effective use in combating climate change globally…

CBUAE and the World Bank join forces to launch the UAE’s inaugural National Financial Inclusion and Literacy Forum, driving a more inclusive, informed, resilient, and digitally empowered economy

May 21, 2025

This landmark event highlights the vital connection between expanding financial inclusion and literacy and the urgent need to enhance financial crime prevention and consumer protection frameworks. By convening key stakeholders from government, financial institutions, and international organizations, the forum seeks to promote a collaborative effort in crafting national strategies that empower all segments of society—including underbanked…

EBA Annual Report 2024 reveals a robust push to advance regulatory reforms, green finance, data transparency, and crypto rules, while boosting resilience against financial, climate, and cyber threats

May 20, 2025

In 2024, the EBA advanced Basel III reforms, ESG integration, and stress-testing while refining the Single Rulebook and strengthening oversight of banks, investment firms, and crypto-asset markets. It also accelerated work on DORA and MiCA implementation, enhanced AML/CFT readiness, expanded data capabilities via EUCLID, and laid groundwork for the new AML Authority launching in 2025…

FATF, INTERPOL and UNODC urge countries to strengthen asset recovery, deepen cross-border cooperation, and dismantle the illicit finance networks driving crime and terrorism

May 19, 2025

Countries must strengthen asset recovery, enhance cross-border financial investigations, and implement FATF’s tightened anti-money laundering standards. Closer collaboration with the private sector, adoption of new technologies, and capacity building are essential to disrupt the illicit profits driving organised crime and terrorism…

House of Commons briefing reveals banking fraud soared to £1.2bn in 2023, making up over 40% of crimes against individuals, outlining urgent public and private sector action to tackle it

May 19, 2025

Despite the introduction of a new national fraud strategy and upcoming mandatory reimbursement rules for victims of authorised push payment (APP) fraud, the briefing highlights continued enforcement shortcomings. Alarmingly, only around 2% of reported fraud cases are referred for investigation by local police forces, raising concerns about the capacity and prioritisation of fraud within the criminal justice system…

AUSTRAC launches second public consultation on updated AML/CTF rules – with enhanced EDD, expanded reporting, and clearer regulations to boost compliance and risk management – closes 27 June

May 19, 2025

The revised rules introduce more flexible and comprehensive customer due diligence measures, expanded requirements for transaction and suspicious matter reporting, and clearer guidance to help entities better understand their compliance obligations. These updates aim to address challenges faced by reporting entities, enhance risk management practices, and ensure stronger protections against financial crime…

Switzerland’s MROS 2025 Typology Report flags key ML risks: nostro a/c abuse, virtual assets, shell companies, real estate and art market abuse, and sanctions evasion – urging stronger financial controls

May 19, 2025

The guidance provides financial intermediaries and merchants with practical tools to better detect suspicious activities. By enhancing detection across the financial sector, MROS strengthens the role of institutions in combating these complex crimes, demonstrating Switzerland’s commitment to international standards and closer public-private cooperation in the fight against money laundering and terrorism financing…

Europol Fraud Report 2024 warns that fraudsters are exploiting public IP data and AI tools to execute a multimillion-euro scam, deceiving rights holders with fake fees and forged documents

May 16, 2025

In a new situation report, Europol and the EUIPO find a sharp rise in cross-border intellectual property fraud, driven by scammers exploiting publicly accessible IP data and digital tools, including generative AI, to impersonate official bodies and issue fake payment requests…

Eurojust tackled record levels of cross-border crime in 2024, seizing €20bn in drugs, freezing €1bn in assets, and arresting 1,200 suspects

May 15, 2025

Eurojust’s 2024 Annual Report highlights a significant rise in its operational activity, with nearly 13,000 cross-border crime cases handled—reflecting over a 60% increase in five years—and the launch of the European Judicial Organised Crime Network (EJOCN) to strengthen global partnerships.

AUSTRAC orders AML/CTF audit of Mercedes-Benz Financial Services amid major compliance failures, revealing extensive under-reporting and weak transaction monitoring in non-bank lending sector

May 15, 2025

This action highlights increasing concerns over potential weaknesses in the automotive finance sector’s AML and counter-terrorism financing controls. The audit will conduct a comprehensive evaluation of Mercedes-Benz Financial Services’ compliance framework to uncover any deficiencies or vulnerabilities that could be exploited for illicit financial activities…

Europol disrupts a major criminal parallel banking network, seizing €4.5m and arresting 17 suspects in crypto-to-cash laundering fueling migrant smuggling and drug trafficking

May 14, 2025

The criminal network was involved in providing illicit financial services such as illegal hawala banking, cash courier activities, and converting cryptocurrencies into cash, primarily to launder money for migrant smuggling and drug trafficking groups. Investigators revealed that the network facilitated the movement of over €21 million in illicit funds and operated separate branches targeting different criminal communities…

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