Latest Money Laundering Threats – Page 11
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NewsAuthorities shut down trafficking and laundering network that made profit of €14 million
Law enforcement agencies have dismantled a cross-border human trafficking and laundering ring, raiding properties and arresting 38 suspects in France, Romania and Moldova.
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NewsFATF adds four countries to AML ‘grey list’ following plenary
The Financial Action Task Force (FATF) has added the Cayman Islands, Burkina Faso, Morocco, and Senegal to its ‘grey list’ of countries under supervision.
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BlogBlaming company formation agents misses the bigger picture about AML in the UK
The National Crime Agency is planning a crack down on company formation agents as part of an AML drive. However, John Binns argues the problems are due to more significant holes in the UK’s financial crime safety net
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NewsNew AML rules in US increase credit risk for banks globally, warns rating agency
New anti-money laundering legislation in the United States intensifies credit risks for non-US banks, a major rating agency has warned.
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NewsIndonesia set to expand AML regulation for fintechs
Indonesia will soon approve a regulation to stem money laundering and terrorism financing by requiring more financial technology companies to report suspicious transactions, the head of its financial intelligence agency has said.
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NewsFormer Europol director to kick off two days of debate at FinCrime World Forum
Sir Rob Wainwright will kick off two days of debate, insight and virtual networking at the FinCrime World Forum next month.
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BlogHow your bank can protect a herd of elephants in Botswana’s Okavango Delta
Erik Stretz outlines what Europe’s banks must do to help fight the illicit trade of wildlife
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NewsGermany, Portugal and Romania warned to bring AML laws into line with rest of Europe
The European Commission has sent formal letters of warning to Germany, Portugal and Romania urging them to bring their anti-money laundering (AML) laws into line with European Union directives “correctly”.
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NewsCash payments to UK universities raise money laundering concerns
Financial crime experts have raised concern about the number of universities in the UK which accept cash payments from students from countries with high money-laundering risks.
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NewsFines for AML non-compliance only work in 'limited circumstances', say half of specialists polled
Monetary penalties for anti-money laundering (AML) compliance failures are only effective as a deterrent in “limited circumstances”, more than half of specialists polled in a survey have said.
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BlogDeFi brings risks and opportunities for AML
Cyber fraud and money laundering involving Decentralised Finance (DeFi) is on the rise. Here Marcus Rickard looks at the risks DeFi creates for AML compliance, the consequences of those risks for AML compliance officers, how the risks can be mitigated and the potential benefits DeFi brings
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NewsDenmark improves FATF compliance overall but downgraded on efforts to regulate VASPs
Denmark’s efforts to improve its anti-money laundering (AML) legislation have been rewarded with a higher technical compliance rating in five areas, but has been downgraded on its efforts to curb Virtual Asset Service Providers (VASPs)
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BlogFinancial crime co-operation should continue despite Brexit Trade Agreement changes
The Trade & Cooperation Agreement which came into effect last month marks the start of a new financial crime fighting relationship between the United Kingdom and European Union, writes Francesca Titus
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News“Fishrot Files” corruption and laundering probe into Norway’s largest bank DNB dropped
Norway’s largest bank DNB has announced it is no longer being investigated by the country’s financial crime watchdog over alleged links to bribery and money laundering
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NewsIndia’s central bank restricts investments in ‘shadow banks’ from non-FATF compliant nations
The Reserve Bank of India has announced a tightening of rules for new investors from overseas in Non-Banking Financial Companies (NFBC)
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News£4.5bn of unreported cash identified in UK as criminals exploit ‘cottage industry’ of shadowy company formation
A ‘cottage industry’ of company formation agencies is helping criminals launder billions of pounds in the UK, with £4.5billion of unreported income identified between 2012 and 2017, a report has revealed.
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NewsYellen warns of ‘explosion’ in fraud, cybercrime, cryptocurrency misuse and laundering
The new US Treasury Secretary has warned of the need to tackle rising financial crime, cryptocurrency misuse and cyber attacks.
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NewsCrown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
Crown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
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NewsUK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.
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NewsLuxembourg government hits back at reports country is haven for money laundering
The Luxembourg government has sought to counter allegations that the country is a haven for money laundering and tax evasion, following a damning report by journalists.