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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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ASC probes CatalX CTS Ltd., an Alberta crypto-asset trading platform and its top executives over allegations of breaching securities laws by misappropriating over CAD 14M in client assets

July 18, 2025

The ASC claims funds were diverted to personal accounts starting in 2019, with the company failing to report the fraud promptly and lacking adequate safeguards to prevent misuse. A hearing is scheduled for September 2025, highlighting growing regulatory scrutiny over crypto platforms and their custodial responsibilities in Canada…

President Trump signs the GENIUS Act marking a milestone in digital asset regulation, establishing a robust stablecoin framework that boosts U.S. crypto innovation and strengthens FC safeguards

July 18, 2025

Key provisions include mandatory 100% reserve backing with liquid assets such as U.S. dollars or short-term Treasuries, monthly public disclosures of reserve compositions, and strict marketing rules to prevent misleading claims about government backing. The Act also subjects stablecoin issuers to the Bank Secrecy Act, requiring effective anti-money laundering and sanctions compliance programs…

UNODC’s ‘Ukraine Organised Crime Dynamics’ report warns the war is driving drug trafficking, cyber fraud, arms smuggling, and human trafficking – urging stronger controls and cooperation

July 18, 2025

The conflict has displaced millions, increasing vulnerabilities to human trafficking and draft evasion schemes. With criminal groups exploiting wartime conditions, the report warns of growing economic and social harm, urging enhanced border controls, centralized monitoring, and stronger public-private partnerships to combat these evolving threats effectively…

Europol’s paper, ‘From Streets to Screens,’ calls for robust digital policing through ethical data use, an enhanced online presence, and private-sector partnerships to combat cybercrime

July 18, 2025

The paper outlines strategies for law enforcement to effectively combat crime in the online world. The paper emphasizes the necessity for police to establish a visible and transparent presence in digital spaces to build trust with hard-to-reach and at-risk communities. It advocates for the ethical use of data and the development of digital capabilities to address the challenges posed by online crime…

OLAF leads a major cross-border crackdown in Ukraine, exposing eight illegal workshops producing €2.3M in counterfeit pesticides

July 17, 2025

The European Anti-Fraud Office (OLAF) played a central role in coordinating a Joint Investigation Team with Ukrainian and Romanian authorities to dismantle a large-scale underground pesticide production and counterfeiting network. The operation resulted in the seizure of over 175 tons of counterfeit agrochemicals and related materials valued at more than €2.3 million, safeguarding food security and environmental safety in the EU and beyond…

OCCRP reports Cambodian authorities arrested nearly 1,000 mostly foreign suspects in a major crackdown on scam networks tied to cyber fraud, ML, and human trafficking

July 17, 2025

The raids spanned multiple provinces and resulted in seizures of computers and mobile phones used in these schemes. While the operation demonstrates Cambodia’s efforts to tackle escalating cyber-enabled financial crimes and respond to international pressure, human rights groups have raised concerns about allegations of forced labor, human trafficking…

Home Office 2024–25 report flags migrant surges and boosts law enforcement powers to tackle border and financial crime risks

July 17, 2025

The Home Office Annual Report 2024–25 highlights significant operational challenges related to a 24% rise in small boat migrant crossings and the accommodation of over 100,000 asylum seekers, underscoring risks linked to immigration and border enforcement. It also outlines strategic initiatives, including enhanced law enforcement powers via the Crime and Policing Bill and a new policing performance framework, which are critical for addressing financial crime risks tied to migration, human trafficking, and related illicit activities.

AUSTRAC’s 2025-26 priorities tighten oversight on high-risk sectors like cash and digital currencies and expand regulation to ‘tranche 2’ industries like real estate, law, and precious metals

July 17, 2025

AUSTRAC is also targeting high-risk sectors such as cash-intensive businesses and digital currencies, which facilitate rapid and anonymous cross-border transactions. The agency plans to enhance its intelligence capabilities to identify sectors not managing risks effectively and to inform regulatory priorities and enforcement activities…

UK’s 2025 NRA flags how criminals are increasingly exploiting sectors once seen as low-risk – such as universities, football, letting agents, TCSPs, and professional services

July 17, 2025

The report warns of rising risks driven by new technologies, geopolitical instability, and sophisticated criminal networks, while cash-based money laundering, misuse of professional services, and complex ownership structures remain persistent threats. The assessment underscores the need for a coordinated, risk-based approach by government, law enforcement, supervisors…

Met Police and FCA seize 7 illegal crypto ATMs and arrest 2 suspects for operating an unregistered crypto-asset exchange and laundering illicit funds

July 17, 2025

This enforcement action comes amid the FCA’s continued crackdown on unlawful crypto activities, highlighting that no crypto ATMs are legally registered in the UK. Therese Chambers of the FCA underscored that unregulated machines “support crime,” while Detective Inspector Geoff Donoghue reaffirmed the Met’s commitment to tackling crypto-enabled money laundering…

FATF holds webinars on TF and Proliferation Risks (July 22, 2025) and Sanctions Evasion Schemes (July 29, 2025) to help deepen public and private sector understanding of key risks and vulnerabilities

July 17, 2025

The first, on 22 July, will focus on terrorist financing (TF), examining traditional and emerging methods, including online tactics and hybrid approaches. The second, on 29 July, will address proliferation financing (PF) and sanctions evasion schemes, highlighting vulnerabilities in the global financial system and discussing FATF’s recent report on complex PF and sanctions evasion schemes…

FCA and ICO highlight how Open Finance and Smart Data can enhance secure data sharing in financial services through strong consent, privacy, and AI safeguards to combat fraud and drive innovation

July 17, 2025

Key technologies under review include APIs, AI analytics, distributed ledger technology, and digital IDs—all aimed at boosting innovation while safeguarding against financial crime risks. With initiatives like the Smart Data Accelerator and ICO’s Innovation Hub, both regulators aim to balance innovation and trust, ensuring data-driven finance evolves responsibly and transparently…

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