Latest Money Laundering Threats – Page 7
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NewsFresh AML drive in UAE
The ministry of economy in the UAE has launched a campaign to ensure more than 500,000 of the nation’s non-financial businesses submit data on their ultimate beneficiaries by 30 June.
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NewsPhilippine AML watchdog gears up for prosecutions
The Anti-Money Laundering Council (AMLC) in the Philippines is prepared to take supervisory action after a review revealed financial businesses submitted incorrect filings in suspicious transaction reports (STRs), says executive director Mel Georgie Racela.
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AnalysisPooling obligations through fincrime utilities can help us be the ‘gatekeeper’
Helene Erftemeijer, ahead of her talk to GRC World Forums next month, discusses an innovative collective transaction monitoring project in the Netherlands and why we must break down siloes to keep up with the criminals
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AnalysisThe key theme: building next generation fincrime partnerships
Next month’s FinCrime World Forum will feature a whole stream of panel debates on future fincrime partnerships. Here we look at some of the eye-catching partnership projects from around the globe
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ArticleRed Flag series: Orchestrating RegTech solutions to work together
The first episode of the GRC Red Flag Series discusses the GRC Orchestrate project and calls for firms to work collaboratively on standardising industry-led solutions to RegTech.
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AnalysisThe key theme: Aligning RegTech to FinCrime realities
Interest is growing in the use of RegTech solutions in financial crime and this will be a major topic at FinCrime World Forum next month. Here we take a look at some of the major technologies and techniques that could be utilised as well as some of the barriers to adoption
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NewsEurope’s new AML watchdog will be in place by 2024
Once operational, the authority will mark one of the biggest overhaul of the European Union’s anti-money laundering efforts in decades.
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Analysis‘AML is the least effective anti-crime measure anywhere, ever’
Outcomes scientist Dr Ron Pol has been ruffling feathers with his strong criticism of current anti money laundering (AML) frameworks. Ahead of his appearance at FinCrime World Forum next month, he argues current thinking is not working because it has no basis in effectiveness and outcomes science.
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NewsSpanish police disrupt money laundering and drug trafficking gang
Sixty people have been arrested so far by police in Spain for allegedly being involved with a Mallorca-based criminal organisation which laundered at least €1m ($1.2m) from drug trafficking in a little over a year.
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NewsWorld’s largest crypto exchange under federal investigation
Binance has now become the subject of a money laundering investigation.
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NewsUK fraud office launches money laundering probe into Gupta steel empire’s links to Greensill Capital
The Serious Fraud Office in the United Kingdom has confirmed it has launched a fraud and money laundering investigation into the Gupta Family Group’s financial arrangements with failed financing firm Greensill Capital.
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AnalysisThe key theme: focusing effectiveness on tackling financial crime
Regulators, government departments, private businesses and law enforcement agencies carry out a huge amount of activity every single day to combat financial crime, but how much of it is actually effective? How do we measure and improve our effectiveness? Next month’s FinCrime World Forum global live stream experience will feature several sessions on this topics. To get you in the mood, Matthew Redhead explains the key issues and argues for a systemic approach
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AnalysisIntegrating AI into AML strategic transformation
The rise of AI will provide new opportunities for visionary leaders to transform their Anti Money Laundering strategies, write Sha Ali and Sabah Hussein
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NewsEU plans to ban cash payments above €10,000 in AML move
The European Commission is preparing to prohibit cash transactions of €10,000 or more as part of new anti-money laundering measures.
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NewsPakistan to work towards meeting FATF’s AML conditions
The Pakistani government is to bring in a swathe of new rules and procedures with the goal of ending its three years on the Financial Action Task Force’s grey list which subjects it to increased monitoring.
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NewsEuropean Banking Authority outlines plans for a centralised AML/CFT database
The European Banking Authority (EBA) has published a consultation paper on plans for an anti-money laundering (AML) and counter terrorism financing (CTF) centralised database in the European Union.
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NewsSwedbank fined by stock exchange for AML failings
Swedbank has been fined a total of $5.5million (SEK46.6m) by Nasdaq Stockholm’s disciplinary committee for historical AML (anti-money laundering) failures.
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NewsDozens arrested and 800 officers deployed in major anti-mafia operation in Europe
A total of 31 people have been arrested in a major operation against international drug trafficking and money laundering which saw the deployment of 800 police officers and tax officials.
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NewsNorway’s largest lender fined $48 million over AML failings
Norwegian bank DNB ASA has been fined 400 million Norwegian Kroner ($48.1 million) for failing to adequately comply with anti-money laundering requirements,
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NewsBaFin tells Deutsche Bank to improve AML safeguards
Germany’s financial regulator has ordered Deutsche Bank to do more to improve its anti-money laundering safeguards.