Authorities worldwide have made over six thousand arrests – including nearly 200 high-value targets – connected to the takedown of EncroChat, a communications platform favored by organized crime groups (OCGs). The arrests were made possible by a joint investigation team […]
In the ongoing fight against fentanyl trafficking in the Americas, United States authorities have arrested two people and unsealed three indictments against People’s Republic of China (PRC) manufacturers and their employees for supplying chemical precursors to fentanyl. According to the […]
The third Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place in Paris on June 21-23, 2023. Discussions focused on: Measures for anti-money laundering and the countering of terrorist financing (AML/CFT) in […]
In the opening speech for the 2023 Regional Anti-Scam Conference in Singapore, Sun Xueling, Minister of State for the Ministry of Home Affairs and Ministry of Social and Family Development, highlighted the need for countries to cooperate in combatting fraud. […]
On May 24-25, 2023, Canada and the United States joined a trilateral workshop reviewing the opioid problem, including fentanyl, and its connection to money laundering. The workshop was hosted by Mexico’s Unidad de Inteligencia Financiera (UIF) in Mexico City. As […]
Concluding an assessment performed in 2022, the European Banking Authority (EBA) has found that firms in the payments sector are deficient in their controls against money laundering and terrorist financing (ML/TF). It also found that, despite the significant ML/TF risks […]
On 7th June, the UK Payment Systems Regulator (PSR) announced new reimbursement requirements for authorised push payment (APP) fraud victims. In this blog and my video below, I break down what the announcement means and – as someone who has […]
Following a consultation in December 2022, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has released new compliance and reporting guidance for high-risk customers to discourage debanking activities, sometimes known as de-risking. Customers affected by debanking include some fintechs, remittance […]
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network of individuals and entities across Iran, the People’s Republic of China (PRC), and Hong Kong for facilitating the procurement of critical materials in support […]
As part of an EU-funded initiative, TRAFFIC has released a new guide to support European Union (EU) investigations into the illegal wildlife and timber trafficking trades. The 86-page report offers firms and law enforcement crucial principles to ensure effective investigations […]
On May 30, 2023, the Bangko Sentral ng Pilipinas (BSP) issued a memo to remind supervised financial institutions (FIs) of their regulatory obligations to perform strong due diligence measures on designated non-financial business and profession (DNFBP) customers. According to the […]
On June 6, 2023, the Office of Foreign Assets Control (OFAC) designated three individuals and one entity in connection with the notorious Jalisco New Generation Cartel (CJNG). Two senior members of the criminal group were sanctioned for arms trafficking and […]
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