On February 9, the UK Office of Financial Sanctions Implementation (OFSI) issued new public guidance on ransomware and financial sanctions. The report reminds firms that making ransomware payments to designated entities is prohibited and that breaching financial sanctions is “a […]
The Liberal and Nationals Government of New South Wales (NSW) has unveiled its plan to make all poker machines in the state cashless by 2028, following an inquiry by the NSW Crime Commission. According to the state’s Premier Dominic Perrottet, […]
The US Department of Justice (DOJ) has indicted Russian citizen and US resident, Vladimir Voronchenko, for facilitating a sanctions evasion and money laundering scheme connected to the assets of Russian oligarch Viktor Vekselberg. According to court documents, the defendant is […]
On February 3, 2023, the Australian government published a consultation paper, exploring which elements of the cryptocurrency ecosystem require additional regulation. This paper follows a joint statement issued in August 2022 by Treasurer Jim Chalmers and Assistant Minister for Competition, […]
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has published an operational alert to help reporting entities recognize suspicious financial transactions related to the illegal wildlife trade (IWT). Produced in collaboration with members of Project Anton – an […]
The UK government has announced that fraud will be reclassified as a national security threat, giving it the same status as terrorism. Additionally, fraud will be added to the Strategic Policing Requirement, meaning the armed forces will be required to […]
On January 26, 2023, the US Department of Justice (DOJ) announced the outcome of a months-long coordinated operation to dismantle the ransomware-as-a-service (RaaS) network, Hive. Having targeted more than 1,500 victims in over 80 countries, threat actors have previously used […]
The Australian Federal Police has announced it recorded a spike in online financial sextortion reports over the Christmas/Summer 2022 school holiday period. According to the AFP-led Australian Centre to Counter Child Exploitation (ACCCE), reports from December alone increased by almost […]
On January 26, 2023, the UK government signaled it would introduce amendments related to corporate criminal liability reform in the Economic Crime and Corporate Transparency Bill. During a debate in the House of Commons, numerous new clauses were considered for […]
On January 23, 2023, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) published Monaco’s fifth mutual evaluation report (MER). Following an on-site visit that concluded in March 2022, the report analyzes the level of compliance with the Financial Action Task Force’s 40 Recommendations and the level of effectiveness of Monaco’s anti-money laundering and combatting the financing of terrorism (AML/CFT) system.
On January 23, 2023, federal prosecutors announced the arrest of former FBI Special Agent, Charles F. McGonigal, and former Soviet and Russian diplomat, Sergey Shestakov, on criminal charges related to sanctions violations and money laundering.
The Thai Bankers’ Association (TBA) is discussing how to accelerate the establishment of a new investigative authority that will monitor deceptive and fraudulent transactions linked to criminals.
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