Banks are providing by far the greatest number of suspicious activity reports (SARS) to the UK’s National Crime Agency (NCA) according its latest report which features statistics covering the years 2020-21 and 2021-22. The agency’s 2022 Suspicious Activity Report (SARs)… Read More ›
Financial institutions have so far not been provided the relief from the burdens of onboarding and customer due diligence they had hoped for as a result of the final version of the beneficial ownership rule issued in September by the… Read More ›
The US treasury department and South Africa’s national treasury have made a commitment to form a US-South Africa task force on combatting the financing of wildlife trafficking. The task force will work to combat illicit finance linked to illegal wildlife… Read More ›
Financial crime is set to soar while fraud and scams will continue to evolve during 2023, according to a new report by financial crime and fraud risk detection firm, ComplyAdvantage that says 99 per cent of firms say they are… Read More ›
Free trade zones (FTZs) across Latin America and the Caribbean are vulnerable to illicit trade, according to a detailed and comprehensive new OECD report, Free trade zones and illicit gold flows in Latin America and the Caribbean. It focuses on… Read More ›
Traders in Russian gold based anywhere in the world now face the prospect of US sanctions under the National Defence Authorisation Act (NDAA) for Fiscal Year 2023,which was signed into law by President Joe Biden on 29 December 2022. Not later than… Read More ›
Russian oligarchs are increasingly purchasing high-value goods or property as they reroute their finances in response to their country’s invasion of Ukraine and the subsequent slew of international sanctions imposed on them, according to new analysis from the US treasury… Read More ›
Shutting fraudsters out of trade Digital systems and the smart use of technology solutions present an enormous opportunity to shut fraudsters out of trade and deliver billions of dollars of real-world economic benefit at a national level and trillions of… Read More ›