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As of July 2023, the European Union’s (EU) proposed new anti-money laundering and countering the financing of terrorism (AML/CFT) framework is continuing to progress through legislative processes. Now under negotiation between the European Commission, Parliament, and Council, and with broad […]

The United States Department of Justice (DOJ) has announced a 16-year prison sentence for Kayricka Wortham, the “mastermind” behind a fraud spanning nearly two years. During her time as Operations Manager for the Smyrna, Georgia-based Amazon warehouse, Wortham stole $9.4 […]

Filipino President Ferdinand R. Marcos Jr. has mandated all government offices and departments implement a revised anti-money laundering and counter-terrorist financing (AML/CTF) strategy. The revised plan aims to “allow the Philippines to exit” the Financial Action Task Force (FATF) grey […]

Amid media reports that financial institutions are restricting the access of politically exposed persons (PEPs) and their associates to financial services, the UK government has ordered the Financial Conduct Authority (FCA) to review its PEPs risk management guidance.  Indeed, per […]

On June 30, 2023, His Majesty’s Treasury (HM Treasury) released a consultation paper on the Reform of the Anti-Money Laundering and CounterTerrorism Financing Supervisory Regime. The consultation is part of a reform plan under the Economic Crime Plan (2023-2026). The […]