During an investigation into money laundering and drug supply, authorities in Australia have dismantled an international money laundering syndicate and charged seven people. As part of Operation Phobetor-Enyo, authorities identified a 37-year-old man in Vietnam allegedly running a money laundering […]
Following the recent attacks on Israel, the US Financial Crimes Enforcement Agency (FinCEN) has issued an alert detailing key terrorist financing red flags to look out for. The alert is relevant for financial institutions (FIs) in multiple industries, including gambling, […]
The Wolfsberg Group has issued revised payment transparency standards that discuss best practices for addressing the growing complexity of global payments. “Today, where one actor’s position in ensuring payment transparency starts and ends is no longer as clear-cut as when […]
More than a year after the US Office of Foreign Assets Control (OFAC) designated Garantex for facilitating illicit activity, the Russian crypto exchange is enjoying higher profits than ever, according to research by the Wall Street Journal (WSJ). According to […]
This September, 85 European Union investigators coordinated with EU authorities, including Interpol and Europol, to gather intelligence on human trafficking at the 2023 EMPACT Traffic in Human Beings (THB) Hackathon in the Netherlands. The research focused on online recruitment, especially […]
The G20 Finance Ministers and Central Bank Governors (FMCBG) adopted a new regulatory roadmap for crypto assets at a meeting in Marrakech, Morocco, on October 13, 2023. The roadmap represents a step away from an outright ban, focusing instead on […]
The Bangko Sentral Ng Pilipinas (BSP), the Philippines’ central bank, has released a memorandum reminding financial institutions it regulates (BSFIs) of their customer due diligence (CDD) obligations concerning politically exposed persons (PEPs). The memo clarifies the definition of a PEP […]
Investigative reporters at Yle, the Finnish Public Broadcasting Company, have traced luxury cars transported from Finland’s southeast Vaalimaa border crossing to Tomsk, Siberia. The reporters attached trackers to the vehicles at the border after being tipped off about an operation […]
The US Office of Foreign Assets Control (OFAC) has designated 27 China-based entities and individuals involved in a drug trafficking network that globally distributed tons of synthetic drugs and their precursors, including fentanyl. The sanctions also designated one other individual […]
The US Financial Crimes Enforcement Network (FinCEN) has proposed extending some companies’ final beneficial ownership information (BOI) reporting deadlines. The amendment would change the initial reporting deadline for firms created or registered in 2024 from 30 to 90 days. The […]
The French financial market regulator, Autorité des marchés financiers (AMF), has released customer due diligence (CDD) guidance for investment firms to clarify anti-money laundering and counter-terrorist financing (AML/CFT) obligations. The guidelines were released on October 2, 2023. “[This guidance] sets […]
The Monetary Authority of Singapore (MAS) has recorded more than $20 million in penalties in its 4th Enforcement Report, along with its enforcement priorities for 2023-2024. Among other measures, the report details high-profile enforcement actions against four financial institutions for […]
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