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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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HM Treasury advises UK-regulated firms to apply EDD and ongoing monitoring to any business relationship or transaction involving High-Risk Third Countries, in line with FATF’s revised lists

March 27, 2025

UK firms must apply enhanced due diligence and ongoing monitoring to all customers and transactions linked to high-risk third countries, tailoring the intensity based on risk factors and FATF findings. Additionally, group-wide controls require branches and subsidiaries in weaker AML jurisdictions to implement UK-equivalent measures to ensure consistent compliance…

UK Govt releases updated guidance on Modern Slavery Act reporting requirements

March 27, 2025

This guidance highlights the growing scrutiny of corporate responsibility in preventing modern slavery, especially in complex global supply chains. The guidance is a crucial tool for businesses striving to mitigate risks linked to human trafficking and forced labour…

FFIS’s report (Mar 25) highlights a global shift in private sector collaboration in combating economic crime, while raising concerns about data privacy, gaps, and financial exclusion

March 27, 2025

New laws across key jurisdictions are driving P2P information sharing to boost financial crime detection—while raising concerns over data privacy, regulatory gaps, and risks of financial exclusion from shared risk insights…

 

Saudi Arabia enforces new UBO rules from 3 Apr 25, requiring most companies to disclose their UBOs to combat financial crime, bolster AML efforts, and align with global standards

March 26, 2025

Saudi Arabia is taking a significant step towards enhancing corporate transparency with the introduction of new Ultimate Beneficial Ownership (UBO) Rules. Effective from April 3, 2025, these rules mandate most companies to disclose their UBOs to the Ministry of Commerce…

EBA’s Consumer Trends Report 2024/25 highlights retail payment fraud as a growing concern, with rising consumer debt and de-risking identified as key financial challenges

March 26, 2025

Fraudsters are exploiting social engineering tactics to bypass security measures, while inadequate credit assessments contribute to growing debt levels, and more consumers face difficulties accessing banking services…

Nasdaq’s 2024 Global Financial Crime Report reveals $3.1 trillion in illicit funds surged through the global financial system in 2023, financing ML, human and drug trafficking, and terrorism

March 25, 2025

This included money laundering funding crimes such as human trafficking ($346.7B), drug trafficking ($782.9B), and terrorism ($11.5B). Additionally, fraud and bank fraud schemes resulted in projected global losses of $485.6 billion. These figures underscore the significant human and financial impacts of financial crime…

FCA’s 5-year strategy envisions a trusted, innovative sector through smarter regulation, tech-led financial crime prevention, high-growth support, stronger Consumer Duty and global expansion

March 25, 2025

Key financial crime highlights include the persistent rise in payment fraud, particularly social engineering scams that bypass strong authentication measures…

INTERPOL’s Operation Red Card busts major cyber-fraud networks across Africa, exposing banking, investment, and msg app scams, and revealing links to human trafficking and digital asset laundering

March 24, 2025

Interpol is not only broadening its focus on cyber-enabled financial scams but also taking decisive action through a coordinated, international investigation. It highlights the significance of dismantling cybercrime networks that exploit financial systems and digital platforms. The inclusion of “cross-border” emphasizes the international nature of the operation, reinforcing the global effort to combat financial crime…

FinCEN’s interim rule limits BOI reporting under the Corporate Transparency Act to foreign companies, exempting US entities

March 21, 2025

FinCEN seeks comments on interim final rule, which narrows BOI reporting under the Corporate Transparency Act, exempting U.S. entities from disclosure while maintaining requirements for foreign reporting companies with extended compliance deadlines. The rule also removes the obligation for foreign firms to report U.S. beneficial owners, streamlining compliance…

 

 

Europol uncovers a €6.7m healthcare fraud and ML scheme in France, where fraudsters used stolen diplomas to create fake hearing aid companies and laundered funds via shell companies

March 21, 2025

French authorities arrested eight key suspects, seizing €195,000 in assets, including bank funds and luxury items. Intelligence from France led to a German investigation targeting the laundering network. German authorities investigators, raided eight locations, including a major company suspected of funnelling illicit funds. Over 100 officers seized real estate, 73 luxury vehicles, and €260,000 in cash…

 

NCA launches a campaign to combat financially motivated sextortion, a growing online blackmail targeting teenage boys, aiming to raise awareness and empower victims to report

March 20, 2025

Organised crime groups, mainly from West Africa and Southeast Asia, exploit victims for quick financial gain, sometimes blackmailing them within an hour of contact. Research shows most teenage boys lack awareness of sextortion tactics and reporting mechanisms. The campaign, running on social media, aims to educate boys aged 15-17 and provide guidance for parents…

GII assesses Ghana’s progress in BO transparency, noting legal advances but highlighting challenges like limited public access, inconsistent definitions, and enforcement gaps

March 20, 2025

Illicit financial flows drain Africa’s resources, undermining public services and economic growth. Ghana is tackling this through beneficial ownership transparency, with key legal reforms in place, but challenges in access, enforcement, and consistency remain…

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