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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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CoLP reports UK victims lost over £102M to romance fraud last year, with cases rising 29% to 10,784 as criminals increasingly used online platforms and AI to build fake relationships and extract money

May 5, 2026

The data shows criminals are increasingly exploiting online relationships through dating platforms, social media, and messaging apps, where they carefully build emotional trust over weeks or even months before requesting money. These scams often involve fabricated stories such as medical emergencies, travel costs, or fake investment opportunities, including a growing link to cryptocurrency-related frauds. Authorities note that offenders are becoming more sophisticated, increasingly using AI-generated images, fake identities…

GI-TOC’s ‘Wind of Change’ report argues that outdated and fragmented UN anti-crime systems are struggling to keep pace with cyber fraud, illicit finance and trafficking, urging major global reforms

May 4, 2026

The report particularly emphasises the need to reposition the United Nations Convention against Transnational Organized Crime (UNTOC) as the core international legal framework for combating organised crime. Although UNTOC is one of the world’s most widely ratified treaties, the report argues that its operational impact has fallen short due to weak implementation mechanisms, inconsistent political commitment and limited monitoring of member state compliance. GI-TOC contends that many emerging criminal threats — including cyber-enabled fraud, illicit financial flows, environmental crime, trafficking networks, sanctions evasion and online scam operations…

IMF report finds Kosovo’s Central Bank has a broadly strong, internationally aligned transparency framework, supported by solid governance, disclosures, and improving public communication

May 1, 2026

The review highlights strengths including extensive publication of monetary and financial stability information, accessible institutional reporting, and transparent governance arrangements that support accountability and public confidence. Recommendations focus on enhancing disclosure around internal risk management, decision-making processes, audit functions, and anti-corruption safeguards to further align the framework with international best practice…

APG’s 2nd Follow-Up Report on Nepal finds that while legal and supervisory AML/CFT reforms have progressed, significant gaps remain in effective enforcement, investigations, and BO transparency

May 1, 2026

The follow-up report reviews Nepal’s efforts to address deficiencies across Recommendations 6, 7, 24, 25, 26, 28, 34, and 40, concluding that reforms and implementation measures do not yet justify technical compliance upgrades. APG also highlights broader concerns around risk assessment updates, supervision of non-financial sectors, beneficial ownership transparency, and the operational effectiveness of Nepal’s AML/CFT framework, resulting in continued intensified monitoring…

APG’s Follow-Up Report on Lao PDR notes modest progress in AML/CFT reforms, but enforcement weaknesses and implementation gaps still hinder full compliance with global standards

May 1, 2026

The report assesses technical compliance progress since Laos’ 2023 mutual evaluation and notes that deficiencies remain in the implementation of measures relating to enhanced due diligence and countermeasures for high-risk jurisdictions. APG also confirms that Laos continues to face significant AML/CFT weaknesses requiring intensified monitoring, with broader concerns persisting around supervision, financial intelligence, investigations, and enforcement effectiveness…

FATF Mutual Evaluation Report commends Austria’s AML/CFT framework while flagging weaknesses in BO transparency, enforcement and cross-border illicit finance controls

April 30, 2026

The report identifies weaknesses including insufficient resources and operational independence for the Financial Intelligence Unit, restrictive interpretations of money laundering offences, and low levels of corporate sanctions and asset confiscation. FATF also highlights inconsistent risk understanding across authorities and calls for stronger coordination, resourcing, and enforcement action to improve the effectiveness of Austria’s AML/CFT regime within the next three years…

EP urges the EC to enforce the Digital Markets Act more strongly, faster, including through tougher scrutiny of AI-driven services and more effective penalties for non-compliance

April 30, 2026

MEPs warn that external political pressure must not undermine the EU’s ability to enforce its digital competition rules and call on the Commission to fully use investigative, compliance, and sanctioning powers against designated gatekeepers. The resolution also highlights concerns around self-preferencing, anti-steering restrictions, cloud market concentration, and manipulative consent practices, emphasising that DMA compliance should be judged by real-world outcomes for competition, innovation, and consumer choice…

CBUAE, ICP, and ADCB launch a digital “Tourist Identity” system enabling visitors to open bank accounts on arrival using biometric verification for instant access to banking services

April 30, 2026

The initiative enables tourists to open bank accounts digitally upon arrival, using a secure biometric-based digital identity system linked to official travel credentials. This removes traditional onboarding barriers such as lengthy paperwork and in-branch verification. By integrating identity verification with banking services, the platform allows tourists to access financial services and cashless payments almost immediately, supporting the UAE’s broader push toward a digital-first, cashless economy and enhancing the visitor experience…

FCA opens Pre-application support service for crypto firms ahead of the UK’s new FSMA crypto regime, with authorisation applications launching on 30 Sept 2026 before full implementation in Oct 2027

April 30, 2026

From 11 May 2026, firms planning to carry out regulated crypto activities will be able to request free pre-application meetings with the FCA to discuss their business models, regulatory expectations, compliance requirements, and authorisation process before formally applying. The move forms part of the UK’s broader effort to bring crypto firms under a more comprehensive financial regulatory framework aimed at strengthening consumer protection, market integrity, financial crime controls, and oversight of the rapidly growing crypto sector…

EBA publishes its final Guidelines on supervisory independence, reinforcing safeguards that keep regulators independent, impartial, and free from conflicts of interest or external influence

April 29, 2026

The Guidelines require competent authorities to implement stronger controls around declarations of interest, ownership and trading of financial instruments, and post-employment restrictions for staff and governance body members. The framework also clarifies expectations relating to appointments, tenure, and transparency to reinforce supervisory integrity, consistency, and public trust in EU financial oversight…

Europol dismantles a €50M online fraud network operating call centres across Europe, arresting 10 suspects and seizing assets linked to large-scale investment scams targeting victims globally

April 29, 2026

Authorities estimate that the network caused at least €50M in losses, targeting victims across multiple European countries and beyond through coordinated social engineering and investment fraud tactics. During the raids, law enforcement also seized cash, electronic devices, and financial assets linked to the criminal operation, while the investigation continues to trace additional assets and identify further participants in the wider network…

OECD warns that record-high export restrictions on critical raw materials are straining global supply chains and raising risks to energy transition and industrial security amid geopolitical tensions

April 28, 2026

The report identifies particularly high exposure to restrictions for cobalt, manganese, graphite, and rare earth elements, with a growing number of resource-rich countries in Africa and Asia adopting export controls. OECD also highlights that around 16% of global trade in monitored critical raw materials faces at least one export restriction, raising concerns over economic security, industrial competitiveness, and geopolitical fragmentation…

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