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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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FATF adds 3 countries to its “Black List” and 23 countries to its “Grey List”

October 31, 2023

FATF has added Democratic People’s Republic of Korea, Iran and Myanmar to its black list and moved Bulgaria, UAE, Croatia, South Africa, Turkey among others to it grey list. 129 countries and jurisdictions were reviewed…

FATF publishes report on use of crowdfunding in terrorist financing

October 31, 2023

The report highlights good practices, starting with the inclusion of crowdfunding in national terrorist financing risk assessments, outreach to the crowdfunding sector, and strong domestic and international information sharing mechanisms.

msg Rethink Compliance releases its AML Industry Benchmarking Report 2022

October 31, 2023

The 2022 AML Benchmarking Report builds takes an even deeper dive into EWRAs using aggregated data from hundreds of risk assessments and hundreds of survey respondents. The report’s insights can help organisations better understand ML/TF risks and the effectiveness of specific controls to reduce residual risk exposures…

AML Analytics and Bank of Jamaica publishes joint Whitepaper on ‘Using supervisory technology and thematic reviews to enhance risk-based supervision’

October 31, 2023

The paper aims to empower risk-based supervision by integrating advanced supervisory technologies. By incorporating thematic reviews, the it seeks to elevate risk management practices, offering a comprehensive approach to strengthening the supervisory framework…

HM Treasury releases the ‘Future financial services regulatory regime for cryptoassets’ response to the consultation and call for evidence

October 31, 2023

HMT response provides a clearer regulatory framework for cryptoassets, offering stakeholders more certainty on how these digital assets will be governed in the financial services sector, also outlining specific measures to mitigate risks associated with cryptoassets…

US DoJ sends officials to Mexico to provide capacity building to Mexican prosecutors to counter fentanyl trafficking and organised crime

October 30, 2023

The workshops highlighted and promoted good practices to investigate fentanyl trafficking networks, provided an understanding of global trafficking trends and the fentanyl criminal market worldwide, and explained how precursors from China arrive to the Americas and are eventually used to make fentanyl that is trafficked throughout the United States.

FATF issues call to action to high-risk jurisdictions

October 27, 2023

Applies to the Democratic People’s Republic of Korea, Iran and Myanmar.

New UK Economic Crime and Corporate Transparency Act 2023 (ECCTA) receives Royal Assent

October 26, 2023

The Act brought the most substantial changes in preventing the abuse of the register, new ‘failure to prevent fraud’ offence and enhanced law enforcement powers…

The Bank of England releases ‘feedback statement’ based on its recent industry consultation with updated viewpoints on AI and Machine Learning

October 26, 2023

The document emphasises a balanced approach, aiming to encourage innovation in AI and ML while maintaining robust regulatory measures. It also highlights the need for responsible implementation to ensure stability, security, and ethical considerations in the financial industry…

APGML publishes follow-up report to the Mutual Evaluation of Cambodia

October 25, 2023

Cambodia is re-rated on Recommendation 7, which relates requires countries to implement targeted financial sanctions to comply with the United Nations Security Council Resolutions (UNSCRs) relating to the prevention, suppression and disruption of proliferation of weapons of mass destructions (WMD) and its financing.

APGML publishes follow-up report to the Mutual Evaluation of Myanmar

October 25, 2023

As a result of this progress, Myanmar has been re-rated on Recommendation 14, which relates to MVTS.  However, insufficient progress has been made to justify a re-rating of R.7, R.8,
R.24 and R.26.

NCA releases podcast which unearths the murky world of serious and organised crime

October 25, 2023

The first three episodes released will reveal how some of the UK’s most notorious criminals were captured and put behind bars, including drug smuggler, Robert Dawes, prolific paedophile, Matthew Falder, and weapon trafficker, Harry Shilling.