In a joint action day supported by Europol and Eurojust, 33 people have been arrested for their alleged connection to a global money laundering network. According to investigators, the network ran a trade-based money laundering (TBML) scheme that utilized companies […]
UK credit and debit card details are among the most common on the dark web. According to a report published by cybersecurity company NordVPN, the country is third only to the United States and India. After studying six underground marketplaces […]
The US Department of Homeland Security is establishing a new wildlife trafficking unit to disrupt the flow of wildlife commodities that are illegally traded to help fund terrorist organizations. Following the 2023 Homeland Security Appropriations Bill, $7.5 million was allocated […]
On May 26, 2023, the Monetary Authority of Singapore (MAS) published new guidance for financial institutions (FIs) on reviewing their countering the financing of terrorism (CFT) controls. The advisory follows an industry-wide survey conducted by the regulator, which considered CFT-related […]
On May 19, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions and export controls on Russia to further impair the country’s capacity to wage war against Ukraine. The new measures were announced […]
The European Commission has written a memo detailing further aspects of the European Union’s new Anti-Money Laundering Authority (AMLA), which is expected to be fully resourced by the end of 2025, with direct supervision established by 2026. While the memo […]
The Hong Kong Monetary Authority (HKMA) has announced the launch of a new pilot program for the potential rollout of a retail central bank digital currency (CBDC), known as e-HKH. On May 18, 2023, the regulator confirmed that 16 firms […]
On May 16, 2023, UK Finance published its 2022 Annual Fraud Report detailing the extent of fraud in the country’s payments industry. The paper revealed that more than £1.2 billion was stolen by criminals through authorized and unauthorized fraud in […]
On May 11, 2023, Canada’s division of the global anti-corruption non-government coalition Transparency International (TI) published a whitepaper on establishing a Canadian Financial Crime Agency (CFCA). The report follows Canada’s 2022 budget, which laid out plans to bolster Canada’s ability […]
The Australian Securities and Investment Commission (ASIC) has announced the imminent introduction of a cross-industry code that will hold banks, telcos, and social media platforms responsible for scam safety and make them liable to reimburse people who lose money through […]
On May 3, 2023, the UK Government published its new fraud strategy, setting out over 50 measures to reduce fraud and cybercrime by 10 percent by 2025. The Home Office said the strategy would “establish a coordinated response from the […]
On May 3, 2023, the Department of Justice (DOJ) sentenced defendant Leroy Holmes to five years in federal prison for his connection to a counterfeit card encoding scam that resulted in the fraudulent creation of nearly 600 credit cards, debit […]
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