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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-led operation targets growing phishing malware and ransomware incidents

February 1, 2024

Some 1,300 suspicious IP addresses or URLs have been identified as part of a global INTERPOL operation targeting phishing, malware and ransomware attacks. Operation Synergia was launched in response to the clear growth, escalation and professionalisation of transnational cybercrime and the need for coordinated action against new cyber threats…

CFATF disseminates third enhanced follow-up report on St Lucia

January 31, 2024

Saint Lucia has 30 Recommendations rated C/LC. Saint Lucia will remain in enhanced follow-up based on effectiveness ratings. Saint Lucia’s next enhanced follow-up report is due November 2024.

Pakistan’s ex-PM Imran Khan sentenced to 14 years for selling state gifts, OCCRP reports

January 31, 2024

“A Pakistani anti-graft court on Wednesday send the former Prime Minister Imran Khan and his wife Bushra Bibi to prison for 14 years in a case related to the unlawful sale of state gifts. His supporters question the harsh sentence that comes days before elections.”

Global Initiative conducts assessment of illicit financial flows (IFFs) in the Western Balkans confirming how corruption, rise of criminal organisations, TBML and tax evasion continue to facilitate IFFs

January 30, 2024

The assessment confirms how widespread corruption, the rise of criminal organisations, trade-based money laundering and tax evasion continue to facilitate IFFs. In an effort to address these shortcomings and to enhance awareness and knowledge of IFFs in the region, the GI-TOC will launch an online IFFs toolkit as part of the project ‘Countering Illicit Financial Flows in the Western Balkans’…

GIABA publishes Mutual Evaluation Report on Guinea

January 30, 2024

Notes that effective and efficient implementation of the AML/CFT regime in Guinea is fundamentally limited by the low banking rate in the economy, the predominant use of cash, the pre-eminence of the informal sector, the vastness of the land borders and prevalent corruption.

Artforum: Head of Saudi Arabia’s Alula Cultural Development arrested on suspicion of money laundering

January 30, 2024

“Amr al-Madani, chief executive officer of the Royal Commission for AlUla (RCU), the government agency created in 2017 to conserve and develop AlUla, a 2,000-year-old archaeological and historical site in northwestern Saudi Arabia, was arrested on January 28 on allegations of corruption. News of his arrest was made public by the country’s Oversight and Anti-Corruption Authority (Nazaha). Al-Madani is accused of abuse of authority and money laundering.”

The NCA releases a statement in response to the Virtual Global Taskforce regarding the impact of End-to-End Encryption (E2EE) and AI on combating online child sexual abuse

January 30, 2024

The Virtual Global Taskforce believes we have reached a significant technological tipping point with the roll out of End-to-End Encryption (E2EE) and the rapid evolution of Artificial Intelligence (AI). The confluence of these developments significantly alters the online landscape and make the law enforcement response to tackling online child sexual abuse (CSA) increasingly complex.

GIABA announces second enhanced follow-up and technical compliance re-rating on Nigeria

January 29, 2024

Finds that Nigeria has made significant progress in addressing the technical compliance deficiencies identified in its Mutual Evaluation, although country will remain under enhanced follow-up until at least November 2024.

GIABA releases fourth enhanced follow-up and technical compliance re-rating on Mali

January 29, 2024

Notes that Mali has made significant progress in addressing the technical compliance deficiencies identified in its MER on Recommendations 2,6, 7, 8, 28 and 34 and re-rates accordingly. Mali will remain under enhanced follow-up system.

EAG assesses the Kyrgyz Republic’s progress in strengthening measures to tackle money laundering and terrorist financing

January 29, 2024

Finds that the Kyrgyz Republic has made significant progress in rectifying the technical compliance shortcomings identified in the MER, with re-rating occurring on several recommendations≥

Conflict Armament Research publishes report on Islamic State activities in north-east Syria during 2021-22

January 29, 2024

In this report, CAR investigates the weapons used in three attacks targeting detention centres housing IS prisoners and suspected affiliates, showing how common links between the materiel used by the different cells shows that they were closely linked and supported by a centralised distribution network that equips top-tier members for specific, high-profile, operations.

Home Office’s response to the consultation on the Code of Practice issued under POCA 2002 can be found in the draft explanatory memorandum that accompanies the draft statutory instrument that will bring the revised code of practice into effect

January 29, 2024

Consultation was undertaken to reflect the changes made to the Unexplained Wealth Order (UWO) regime.