A new paper analysing the scope and characteristics of global trade-based money laundering (TBML) has been published. The paper, Trade-Based Money Laundering: A Global Challenge, was co-authored by Global Financial Integrity, Fedesarrollo, Transparency International Kenya and Advocates Coalition for Development and… Read More ›
The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) has published a new operational alert, Laundering the Proceeds of Crime from Illegal Wildlife Trade. It aims to assist Canadian businesses meet legal requirements to identify and report financial transactions… Read More ›
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 ›