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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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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.

UK Government releases guidance on money laundering reporting obligations in relation to the DAML exemption

January 29, 2024

The first amendment increases the threshold amount for a DAML application from GBP250 to GBP1,000, when a firm wishes to terminate a business relationship with a customer or client. The second one allows firms to pay away money or other property from a customer’s account where they know or suspect that part of the funds or property therein constitute criminal property…

$150m cryptocurrency seizure following US-UK cooperation

January 26, 2024

The head of a multi-million-dollar drug enterprise has pleaded guilty to supplying hundreds of kilograms of illegal drugs on a global scale. Singh, 40, of Haldwani, India, sold the drugs on dark web marketplaces, before personally shipping or arranging their shipment from Europe to destinations across the world. The investigation into Singh was led by the US Drug Enforcement Administration (DEA) and supported…

 

 

Europol publishes new report on the market for heroin and other opiods

January 24, 2024

Describes the European market for heroin (the most frequently used illicit opioid), from production and trafficking, to distribution and use.

SEC adopts rules to enhance investor protections relating to SPACs, shell companies, and projections

January 24, 2024

The rules address investor protection concerns more broadly with respect to shell companies and blank check companies, including SPACs.

EU Commission launches the European Ports Alliance Public Private Partnership to fight organised crime and drug trafficking

January 24, 2024

EU Commission launches the European Ports Alliance Public Private Partnership comes amid criminal networks using violence, corruption, and intimidation for profits. Cocaine seizures in the EU are at record levels, with over 300 tonnes seized annually in recent years…

EU to host public hearing for selecting new AML authority’s home city

January 24, 2024

Nine candidates will present their bids to host the EU’s Anti-Money Laundering Authority at a public hearing in Brussels on January 30, a key step in the new process for selecting EU agency host cities…

HKMA consults on proposal for information sharing among authorized Institutions to aid in prevention or detection of crime

January 23, 2024

HKMA invites views from the banking sector and members of the public on its proposal to facilitate AI-to-AI information sharing, including legislative amendments to provide legal protection to AIs and safeguards to protect data privacy and customer confidentiality. The proposed arrangement is in line with similar developments in other international financial centres.

HKMA insight on how banks can contribute more to the fight against fraud and money laundering

January 23, 2024

HKMA’s new proposal facilitates bank collaboration in fighting digital fraud by legally enabling the sharing of suspicious activity data, with a focus on privacy. Open for public consultation, this initiative aims to bolster early fraud detection through secure data exchange, responding to the increasing digital financial crime threat…

Europol releases podcast on countering online terrorist propaganda

January 23, 2024

Covers Europol’s investigation into the propaganda network of the so-called Islamic State. From the first day of the investigation until final action days, let Europol agents, EU police and global crime experts take you inside this major counter terrorism operation.