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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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INTERPOL publishes its first Silver Notice to help trace and recover criminal assets, fight transnational crime, and boost global police cooperation

January 10, 2025

Italy has requested a Silver Notice to track criminal assets linked to linked to fraud, corruption & ML. This new addition to the Organization’s color-coded Notices and Diffusions facilitates global info sharing. Currently in a pilot phase with 52 countries, the program will run until at least November 2025…

APGML 2023/24 annual business report highlights regional AML/CFT progress, mutual evaluations, and typologies on emerging financial crime trends

January 9, 2025

This report highlights the achievements of the APG over the reporting period against the goals and strategies contained in the Strategic Plan 2020-2024…

EBA publishes final guidelines on ESG risk management, requiring institutions to identify, measure, manage, and monitor risks, and prepare plans to address financial risks from ESG factors

January 9, 2025

Institutions must develop plans that align with EU transition efforts. They are set to apply from 11 January 2026 for most institutions with an extended deadline for smaller entities. They complement other sustainable finance actions outlined by the EBA. These guidelines are part of the EU’s broader strategy to promote sustainable finance and ensure the stability of financial institutions in light of intensifying ESG challenges…

 

 

Eurozone Banks are now required to process payments in 10 seconds under SEPA Instant Payments, raising potential fraud risks

January 9, 2025

Could the rapid processing of instant payments become a new target for fraudsters to exploit? As of 9 January 2025, all Eurozone PSPs must support receiving instant payments, marking a key milestone in harmonising instant payment adoption across the EU…

EBA consults on draft standards for prudential treatment of crypto asset exposures, aiming to harmonise capital requirements across EU FIs, ensuring alignment with Basel standards

January 8, 2025

The European Banking Authority has issued a consultation on the draft regulatory technical standards regarding the calculation and aggregation of crypto exposure values under Article 501d(5) of the CRR. This includes guidelines for financial institutions to calculate their capital requirements for crypto-asset exposures including tokenized traditional assets and other crypto-assets.The consultation seeks feedback to ensure effective regulation of crypto asset…

ICAIE releases new report examining impact of Central Bank Digital Currencies (CBDC) on global fight against ML

January 8, 2025

The International Coalition Against Illicit Economies (ICAIE) questions whether the benefits of CBDCs—such as increased transparency and control over illicit finance—are worth the potential loss of privacy and civil liberties that could come with more authoritarian models…

US DoJ charges Founder of Wolf Capital Crypto with defrauding thousands of investors out of over $9m through a Ponzi scheme

January 8, 2025

Ford made such false promises to induce members of the public to invest money in the company. Ford misappropriated and diverted investor funds to benefit himself and his co-conspirators, to the financial detriment of investors. In total, Wolf Capital raised $9.4 million from approximately 2,800 investors through fraudulent conduct…

 

 

Asian Banking & Finance: Thailand tightens AML measures after UN report

January 8, 2025

Thailand is tightening its AML/CFT measures following a UN report linking its banks to weapons procurement. The Bank of Thailand and AMLO announced stricter customer verification, enhanced scrutiny for high-risk customers, and additional documentation requirements for transactions involving dual-use items. These measures aim to prevent financial institutions from being exploited for ML, terrorism, or human rights abuses…

AML Intelligence: UAE’s ‘Falcon Economy’ thrives as Emirates finalize third milestone of financial crime strategy with NRA set for imminent launch

January 8, 2025

The UAE’s “Falcon Economy” is thriving with strong foreign investment and major infrastructure projects. Concurrently, the country is advancing its Anti-Financial Crime (AFC) and AML efforts, including the upcoming release of its National Risk Assessment (NRA). Key milestones also include the publication of a National AML/CFT Strategy and the establishment of a new AML super-agency, the General Secretariat…

FCA issues crucial insights on strengthening cryptoasset AML/CTF Applications

January 8, 2025

FCA provides feedback on the good and poor quality applications, including importance of qualified MLROs, tailored sanctions controls, and transparent marketing practices…

 

 

FATF urges Argentina to enhance prosecutions, bolster risk understanding, improve FIU resources, increase high-risk sector reporting, and adopt a RBA to NPOs

January 7, 2025

Latest report notes steps taken with respect to international cooperation, domestic agency coordination, AML/CFT supervision, and money laundering convictions and confiscations. However, Argentina will remain in enhanced follow-up, with next report due in 2025.

 

BBC: Bangladesh’s AML agency has requested banks to provide account and transaction details linked to Treasury Minister Tulip Siddiq

January 7, 2025

The Bangladesh Financial Intelligence Unit has requested account details linked to Tulip Siddiq, her family, and her aunt Sheikh Hasina the former prime minister, following allegations of embezzlement of £3.9bn from Bangladesh’s infrastructure funds. Siddiq, named in the investigation last month, has denied the claims. Her spokesperson stated that no evidence has been provided and she has not been contacted regarding the matter…

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