More From Financial Crime Threats – Page 4
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Analysis
Pooling 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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Analysis
Pushing the pace of RegTech adoption to fight the criminals
Next month, Dr Sian Lewin will address FinCrime World Forum on the topic of removing barriers to RegTech adoption in financial crime. Here, she talks about the benefits of technological solutions and explains why the pace of adoption needs to speed up.
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Analysis
The 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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News
Pakistan 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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News
European 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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News
London’s money laundering role to feature in Italian mafia trial
The way financial centre London is used to handle earnings from criminal activity is expected to be exposed in Italy’s largest mafia trial for three decades.
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News
Standard Chartered AML failures in Guernsey revealed by regulator
Standard Chartered’s Guernsey subsidiary transferred assets worth $1.4billion to another jurisdiction where there was concern about tax evasion, the Guernsey Financial Services Commission (GFSC) said.
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News
Two cryptocurrency exchanges shut down amid fraud investigations in Turkey
Two cryptocurrency exchanges have closed in a week and are the subject of fraud investigations in an apparent clampdown in Turkey.
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News
ABN Amro pays €480 million to settle anti-money laundering investigation out of court
The Dutch bank ABN Amro has accepted an offer from prosecutors to pay €480million to settle accusations of structural anti-money laundering compliance failures and ‘culpable’ money laundering.
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News
Pair of AML experts charged in US over $1bn of high-risk transactions
Two anti-money laundering (AML) compliance professionals are facing charges in the United States (US) over facilitating high-risk transactions through a credit union without appropriate controls.
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News
Fincrime experts warn compliance teams to step up efforts in face of new US sanctions
The United States has announced fresh sanctions on Russia, in retaliation to Moscow’s alleged interference in elections and cyber-attacks including the SolarWinds hack.
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News
Council of Europe calls for urgent action to improve FIUs across continent
The Council of Europe (CoE) has called for its 47 member states to strengthen their Financial Intelligence Units to improve anti-money laundering and counter-terrorism financing.
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News
UK adds Pakistan to list of high-risk countries with weak AML/CTF controls
The United Kingdom has added Pakistan to a list of 21 countries it deems to be high-risk due to deficiencies in anti-money laundering and counter-terrorism financing controls.
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Blog
Spotting suspicious activity in the arts and antiquities markets
Fine art is used by launderers and terrorists to move billions of dollars of illicit cash every year. As regulators look to clamp down, Paula Krulicki outlines some of the key warning signs for Anti Money Laundering compliance teams to be aware of
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News
US court orders man to pay $571m for fraudulent Bitcoin scheme
A British man has been ordered to pay $571 million after a United States court found he had operated a scheme to defraud investors out of Bitcoin
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News
First ever North Korean extradited to US to face money laundering charges
A North Korean national will be tried in the United States over allegations he laundered $1.5 million through American banks as part of a scheme to provide luxury goods to the Asian country in breach of sanctions.
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Analysis
Seven key themes from FinCrime World Forum Day Two
Here are some of the highlights and key topics of debate from the second and final day of FinCrime World Forum.
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Analysis
Seven key themes from FinCrime World Forum Day One
Financial crime professionals from all over the world gathered virtually today for the FinCrime World Forum. Here are the talking points and takeaways from Day One.
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News
Online gambling firm fined £3.4million for AML shortcomings and breaching license conditions
Online gambling firm Intouch Games has been fined £3.4million in the United Kingdom after breaching anti money laundering (AML) rul
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News
FATF Executive Secretary David Lewis to speak at FinCrime World Forum
David Lewis will give a keynote speech to FinCrime World Forum next week on the scale and character of the challenge we face in combating illicit finance.