Latest Money Laundering Threats – Page 6
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NewsNew AML bill presented to Liberia’s parliament
Liberia President George Weah has submitted an anti-money laundering bill to the country’s legislature to replace the Anti Money Laundering and Financing Act of 2012.
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NewsUK police seize record amount of cryptocurrency in money laundering case
The Metropolitan Police (Met) in the UK have confiscated almost £180m ($250m, €210m) in cryptocurrency as part of an ongoing investigation into international money laundering.
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NewsEx-bank director and minister jailed in Portuguese money laundering case
Armando Vara, a former director of Portugal’s state-owned Caixa Geral de Depositos bank and ex-government minister, has been imprisoned for two years for money laundering. He is already behind bars for a separate offence.
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NewsMomentum fined for having inadequate measures against financial crime
South Africa’s Financial Sector Conduct Authority (FSCA) has ordered Momentum Wealth and Momentum Collective Investments to pay ZAR11.1m ($773,000, €654,000) after an inspection found weaknesses in their money laundering and terrorist financing controls.
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NewsEC ‘to set up AML body’
The European Commission is said to be proposing establishment of the Anti-Money Laundering Authority (AMLA), plus closer supervision of crypto-assets, in response to calls for tougher action against dirty money.
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NewsPakistan establishes AML/CTF unit
The National Accountability Bureau, Pakistan’s anti-corruption watchdog, has set up an anti-money laundering and terror financing team (AML/CTF) to check financial crimes and illegal transfer of resources.
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NewsMalta ‘given deadline’ to exit FATF’s greylist
The Maltese government has reportedly agreed to implement an action plan with the Financial Action Task Force (FATF) to leave the organisation’s greylist by January 2023.
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NewsVatican charges cardinal with embezzlement
The Vatican’s criminal tribunal has indicted Cardinal Angelo Becciu and nine others for financial crimes including embezzlement in connection with a €350m ($415m) London property investment.
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NewsBanks in Latvia improve AML/CTF controls
Latvia’s Finance and Capital Market Commission says banks in the country have implemented numerous changes to improve their internal control systems.
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NewsEnvironmental crime is money laundering threat says FATF
Countries should view environmental crimes such as illegal forestry, mining, land clearances and waste trafficking – and the associated trading – as a money-laundering (ML) risk, according to the Financial Action Task Force (FATF).
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NewsMcAfee dies in Spanish prison
Antivirus software pioneer John McAfee has been found dead in a suspected suicide in his Barcelona prison cell after Spain’s high court authorised his extradition to the US to face tax evasion charges.
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EventFinCrime World Forum deep-dives into corruption, dirty money, and the fight against kleptocracy
Today at FinCrime World Forum, award-winning investigative reporter and Financial Times investigations correspondent, Tom Burgis, discussed the inner workings of a growing global network of kleptocratic elites.
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AnalysisJohn Scanlon discusses the wildlife/FinCrime nexus at FinCrime World Forum
Before a global audience, Australian lawyer John Scanlon today presented his experiences of the illegal wildlife trade, and explored how the illicit industry props up international financial crime.
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AnalysisTackling Europe’s underground laundering networks
Burkhard Mühl is the head of Europol’s new European Financial & Economic Crime Centre and a speaker at FinCrime World Forum in June. Weeks after an influential Europol report shed light on the complexity and scale of laundering in Europe, he tells GRC World Forums of his plans to step up the fight against financial crime.
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NewsItalian police bust money laundering gang
The financial police in Italy say they have broken up an illegal metal recycling operation which enabled criminals to transfer large amounts of illicit cash between the country and China.
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NewsNZ$70m-plus seized after pyramid scheme probe
The high court in New Zealand has approved a settlement between the country’s police force and Xiaohua ‘Edward’ Gong which enables forfeiture of more than NZ$70m (US$50m, €41m), mainly cash.
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WebinarThe future of AML– How Customer Intelligence is the basis of truly risk-based AML
Join Lucinity and Currencycloud as we cover innovative ways of understanding customer behavior through insights derived from KYC, transaction monitoring, screening and other data sources to create a holistic view of the customer.
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NewsCouncil of Europe tells Vatican to strengthen AML/CTF measures
Though the Holy See, including Vatican city state, has made progress combating the threat of money laundering and financing of terrorism through its financial transactions, processes can be improved, says the Council of Europe.
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NewsAustralian bank under AML/CTF probe
The AML watchdog in Australia, Austrac, is investigating aspects of the National Australia Bank’s operations after identifying serious concerns in its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) rules.
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NewsUK financial watchdog extends AML registration deadline
Partly because of a lack of take up, Britain’s Financial Conduct Authority (FCA) is extending the end date of its temporary registrations regime for existing crypto asset businesses to 31 March next year from 9 July.