White collar ‘gatekeepers’ such as accountants, real estate agents and lawyers are helping criminals launder billions of dollars, much of it through the housing market, the Australian Criminal Intelligence Commission (ACIC) has warned. ACIC deputy chief executive Matthew Rippon told a Senate […]
New sanctions against ransomware operators and crypto exchanges, along with the seizure of $6.1m in funds tied to ransom payments, have marked an escalation in the US government’s crackdown on hackers and anti-money laundering. The US Department of the Treasury announced a […]
New guidance issued by the Financial Crimes Enforcement Network (FinCEN), the Financial Intelligence Unit (FIU) of the United States, tackles the convergence of ransomware, cryptocurrencies, money laundering, and terrorist financing. The Financial Trend Analysis focuses on patterns and trends in […]
The US Office of Foreign Assets Control (OFAC) has sanctioned four Mexican nationals, accusing them of trafficking fentanyl and other illegal substances into the US on behalf of one of Mexico’s most dangerous criminal organizations. Aldrin Miguel Jarquin Jarquin, Jose […]
More than 100 people have been arrested, many on the Spanish island of Tenerife, over allegations of money laundering, online scams, and violence. Italian and Spanish officials say the suspects made millions by tricking victims – mostly Italian nationals – […]
This report will explore the state of financial crime in 2021 so far across three key areas:
Geopolitics and sanctions
Regional regulatory trends
The regulation of cryptocurrencies and innovation in decentralized finance (DeFi)
A Nigerian national living in Oklahoma has been sentenced to four years in prison for operating a money-laundering network that defrauded elderly Americans to the tune of at least $2.5m. Between 2017-2019, Afeez Adebara used online dating websites and social […]
Cyber Crime in North Korea: What You Need to Know An isolated and heavily restricted totalitarian state, North Korea engages in a range of cyber activities that violate international law, including conducting illegal cyber operations around the world. Ongoing international […]
In the United States, geographic locations that present a particularly high risk of money laundering and financial crime may be designated high-risk money laundering and related financial crime areas, also referred to as high-intensity financial crime areas (HIFCA). Intended to […]
High-Intensity Drug Trafficking Areas (HIDTA) are designations made by the United States government for areas of the country that experience a particularly high volume of drug trafficking. HIDTA programs are intended to help law enforcement agencies in the fight against […]
IPT Africa’s compliance team can now make informed decisions about client risk, escalate potential high-risk cases, and take actions in real-time, which ultimately shortens the time it takes to onboard new customers.
In our annual industry report here at ComplyAdvantage, we explore how technology and geopolitics are set to shape financial crime compliance.
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